Unique coastal mixed-use property in Encinitas sells for $3.9 million
Cushman & Wakefield recently brokered the sale of a mixed-use office and residential property in the heart of downtown Encinitas. Built in 2005, the unique two-story building at 631 3rd Street currently houses four small office tenants and a residential tenant.
The buyer was A&W CA, LLC, which acquired the property for $3.9 million as part of a 1031 Exchange. The seller was E & E Properties, Inc.
Peter Curry, managing director and Owen Curry, associate with Cushman & Wakefield’s Private Capital Group in San Diego, represented the seller. Sean Cadell of Sotheby’s and Ed McBee of JEM & Associates represented the buyer, which acquired the asset in looking to spend more time in Encinitas.
“The property offers an outstanding North San Diego County location and a well-positioned work/live environment, located two blocks to the middle of Downtown Encinitas Village and one block to a coastal ocean overlook, with immediate beach access,” said Curry in a news release. “We sold the land to the seller/developer back in 2003 and he built a beautiful project that continues to serve the community. The mixed-use aspect and the size of the property is ideal for where it is situated in the neighborhood.”
The property features patios on both first and second floors and modern architecture with vaulted and exposed ceilings. The property includes seven parking spaces plus street parking.
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