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Quality Suites San Diego Seaworld Area - Leasehold Interest

631 Camino Del Rio, San Diego, CA 92108

  • For Sale $9,999,000
  • City San Diego
  • Neighborhood Mission Valley East
  • Zip Code 92108
  • Market San Diego
  • Property Type Other
  • Property Size 73,026 Sqft
  • Lot Size 1.83 Acre
  • Year Built 1989
  • Year Renovated 2017
  • Date Updated 29 May, 2021
San Diego is one of the most popular tourist destinations in the U.S. It is the 8th largest city in the U.S. and the 2nd largest city in California. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. The city is the seat of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego's main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology. San Diego has one of the top-ten best climates according to the Farmers' Almanac and has one of the two best summer climates in America as scored by The Weather Channel.
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Location

  • City San Diego, CA
  • Neighborhood Mission Valley East
  • Zip Code 92108
  • Market San Diego

Contacts

David Bowman

NewGen Advisory

(805) 557-8898

Highlights

  • This hotel is on a land lease which expires November 2071 . The third party land owner will not sell the land. Over 50 years remain on the lease which increases a minimum of 2.5% a year. In 2019 the land lease expense was $452,429.
  • 126 suites, three buildings, three stories, interior corridors and exterior corridors with two elevators around a landscaped central courtyard
  • 2019 room revenue of $3,587,144 with 80.6% occupancy and a $96.59 ADR
  • 2019 NOI of $450,254
  • Excellent location in San Diego just off the I-8– close to everything!
  • Built in 1989 on 1.83 (+/-) acres
  • Underbranded! The existing franchise can be terminated with liquidated damages of $60,000.

FREQUENTLY ASKED QUESTIONS

What is the lease rate for Quality Suites San Diego Seaworld Area - Leasehold Interest?

Rental asking rate at Quality Suites San Diego Seaworld Area - Leasehold Interest is Subject To Offer per square foot.

What is the total square footage of Quality Suites San Diego Seaworld Area - Leasehold Interest?

Quality Suites San Diego Seaworld Area - Leasehold Interest totals 73,026 square feet.

When was this property built?

Quality Suites San Diego Seaworld Area - Leasehold Interest was built in 1989.

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Contact Listing Broker

David Bowman

NewGen Advisory

(805) 557-8898

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