903 Island Ave

Located in San Diego’s East Village, 903 Island Avenue is a fully renovated, income-producing retail asset offering long-term stability and future upside. The property is anchored by Villains Brewing Company under a new 10-year NNN lease with no landlord improvement allowance, reflecting strong tenant commitment through extensive upgrades, including two large bars, a full kitchen, dual outdoor patios, and a 10-barrel brewhouse.

Situated on a trophy corner with approximately 100 feet of frontage and direct views into Petco Park, the building benefits from exceptional visibility and heavy foot traffic from stadium visitors and tourists. Flexible zoning allows redevelopment of up to 25,000 SF by right, supporting potential conversion to hotel, multifamily, office, or mixed-use. Completed 2025 renovations and a premier East Village location further enhance the asset’s appeal.

Investment Highlights

• Reduced Price: $4,800,000 $4,300,000
• NOI: $216,000
• Cap Rate (Year 1): 5.0%
• Tenant: Villains Brewing Company
• Lease Term: 10 years
• Lease Expiration: March 31, 2034
• Options: Two 5-year options
• Base Rent: $18,000/month + NNN
• Increases: $19,800/month + NNN (Month 60)

Contact us today for a tour.