Available For Sale - Hospitality

63,234 SF | Show Pricing $

Hospitality Space in San Diego for sale

AVAILABILITY DETAILS

Size
63,234 SF
Price/SF
Show Pricing $
Listing ID
SA481850
Notes
Year Built

1970

Description

Property Overview

The Consulate Hotel was built in 1971 before the conception of the California Coastal Commission. Today, all new construction within the Coastal Overlay zone may not exceed two stories. For this reason alone, the Consulate Hotel truly is an irreplaceable asset boasting

six stories, approximately 63,234 square feet on 39,204 square feet of land in the heart of San Diego, and within close proximity to the San Diego International Airport, entertainment and other amenities.

The hotel has a great foundation with a total of 110 rooms, a fitness room, private meeting rooms, ballroom, bar and restaurant, a pool and opportunity for a rooftop deck providing 360-degree ocean, bay and city views. Surface parking is available in addition to the parking garage, so valet may greet guests upon their arrival and guests may safely park their cars overnight. The Consulate currently has

a type 47 liquor license with cabaret which will be passed on to the new owners. This will allow guests to order alcohol for room service or indulge in the in-room mini bar and is approved for a potential rooftop patio.

There is also an opportunity for additional income with cell tower leases. The cell tower leases at The Consulate bring in a guaranteed monthly income equal to $15,480 or $185,760 annually. The leases are active with the top four cellular companies: AT&T, Sprint, Verizon and T-Mobile. This is a great source of supplemental income without a likely end date.

For investors and guests alike, The Consulate Hotel offers opportunities that do not want to be missed. Once the hotel is reopened, guests will become repeat visitors. For developers, investors and guests alike, The Consulate Hotel offers many present and future opportunities. Once the hotel is renovated and reopened, guests will become repeat visitors, the new owner will take pride in this trophy

asset situated in the heart of San Diego, which will resurface as a local icon and must stay tourist destination.

***CONTACT LISTING BROKERS FOR MORE INFORMATION***
Uses
Hospitality

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Alex Bentley, Lee & Associates