The Reserve 2333 State St

The Reserve stands in a class of its own. Located at the northern entry point into Carlsbad Village, this premier property offers unmatched visibility and a commanding presence. Between 2022-2025, ownership completed extensive renovations, including a refreshed exterior façade, new outdoor areas and landscaping, and an updated lobby. All interior suites feature newly constructed, high-end creative improvements. The Reserve is fully stabilized, generating strong in‑place cash flow from existing tenants while maintaining rollover flexibility ideal for an owner/user investor. 

Additionally, the existing three‑story office building offers developers a rare covered‑land opportunity, with in‑place income generating an immediate 6% return on cost (NOI: $702,912). The property is positioned for significant land value appreciation over the next decade, supported by annual rent escalations of 3%. This ocean view, 1 acre site offers a variety of future development and redevelopment opportunities.

See Offering Memorandum for details.