Offering Memorandum
815 Third Ave CHULA VISTA , CA 91911 3-story Multi-Tenant Commercial Building 26,094 Sq Ft • Lot Size- 42,253 Sq ft • 0.97 Acre
Coldwell Banker Commercial West
BUILDING TYPE
3-Story Multi-Tenant Commercial Building ZONING
C-1 Corridor District BUILDING SIZE
26,094 Sq Ft LOT SIZE
42,253 sq ft, 0.97 Acre YEAR BUILT
1973 APN
573-460-54-00
CONTENTS 03
Executive Summary
04
Investment Highlights
06
Market Overview
815 Third Ave. Chula Vista
Executive Summary Coldwell Banker Commercial West is pleased to present the opportunity to acquire 815 Third Avenue, a multi-tenant commercial property located in the Downtown Chula Vista submarket of San Diego County, California. The property is situated along Third Avenue, a primary commercial corridor that serves as the historic and economic center of the city.
The asset is positioned as a value-add or redevelopment opportunity, featuring a mix of small office and service-oriented tenants. The existing tenancy profile provides near-term income with potential for repositioning through lease-up, rent optimization, re-tenanting, or redevelopment, subject to buyer due diligence and municipal approvals.
815 Third Avenue benefits from its infill downtown location, proximity to surrounding residential neighborhoods, and convenient access to major regional transportation routes, including Interstate 5, Interstate 805, and State Route 54. The
Downtown Chula Vista submarket is characterized by limited land availability, neighborhoodserving demand, and ongoing public and private investment intended to support long-term revitalization.
The Downtown Chula Vista office market consists primarily of small-format, multi-tenant buildings serving local professionals, medical users, and service providers. Compared to coastal and Class A office submarkets within San Diego County, the area offers lower occupancy costs and flexible space configurations, supporting continued demand for well-located properties along established commercial corridors.
This offering presents an opportunity to acquire a property with existing cash flow and long-term upside, supported by its location within a maturing downtown environment. The asset may be suitable for investors, developers, or owner-users seeking exposure to an infill Southern California market with repositioning or r edevelopment potential.
Coldwell Banker Commercial West
Investment Highlights DOWNTOWN CHULA VISTA INFILL LOCATION
VALUE-ADD AND LAND-BASIS POSITIONING
NEAR-TERM INCOME WITH REPOSITIONING POTENTIAL
The property is located along Third Avenue within Downtown Chula Vista, an established urban submarket that serves as the historic and economic core of the city. The area benefits from surrounding residential density, neighborhoodserving commercial demand, and ongoing public and private investment.
The property is positioned as a value-add or landbasis opportunity with long-term upside potential. Buyers may explore redevelopment, alternative use, or density enhancement strategies consistent with the Urban Core framework, subject to due diligence and entitlement processes
The current tenancy provides interim cash flow while allowing for rent optimization, space reconfiguration, or lease-up at market rates. The property s upports an active management or phased redevelopment approach.
URBAN CORE / SPECIFIC PLAN CORRIDOR DISTRICT 815 Third Avenue is located within the Chula Vista Urban Core Specific Plan Corridor District, which is intended to support a wide range of commercial, mixed-use, and redevelopment concepts. This designation may provide enhanced flexibility for future use, redevelopment, or repositioning strategies, subject to buyer verification, zoning requirements, and municipal approvals
M ONTH-TO-MONTH TENANCY PROVIDES OPERATIONAL FLEXIBILITY Existing tenants occupy the property on a month-to-month basis, allowing a new owner to implement leasing, re-tenanting, renovation, or redevelopment plans without long-term lease encumbrances.
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815 Third Ave. Chula Vista
Coldwell Banker Commercial West
Market Overview CHULA VISTA, CALIFORNIA – THIRD AVENUE DISTRICT
DOWNTOWN CHULA VISTA & THIRD AVENUE CORRIDOR
815 Third Avenue is strategically located in the heart of Downtown Chula Vista, one of San Diego County’s most established and rapidly evolving urban submarkets. The property sits along Third Avenue, a historic commercial corridor that serves as the civic, cultural, and small-business backbone of Chula Vista, connecting residential neighborhoods to retail, professional services, restaurants, and government uses.
The Third Avenue District is characterized by a mix of small office buildings, retail storefronts, service providers, and mixed-use properties, attracting local professionals, entrepreneurs, and community-oriented businesses. The area benefits from consistent foot traffic, strong local identity, and ongoing public and private investment aimed at revitalization and densification.
CHULA VISTA CENTER
SCRIPPS HOSPITAL
ALBERTSONS
SUPERIOR COURT SOUTH COUNTY DIVISION SPROUTS
JACK-IN-THE-BOX
WELLS FARGO
BANK OF AMERICA
Chula Vista’s Downtown Specific Plan encourages redevelopment, adaptive reuse, and increased density, supporting long-term appreciation and repositioning opportunities for welllocated properties. Third Avenue remains a key beneficiary of these initiatives, with infrastructure improvements, new housing development, and an expanding daytime and residential population.
THIRD AVENU E
815 Third Ave. Chula Vista
REGIONAL ACCESS & CONNECTIVITY
ECONOMIC & DEMOGRAPHIC DRIVERS
The property offers excellent regional access, located minutes from Interstate 5, Interstate 805, and State Route 54, providing convenient northsouth and east-west connectivity throughout San Diego County. The site is also near public transportation routes and within close proximity to major employment centers, including National City, Downtown San Diego, Otay Mesa, and the U.S.– Mexico border.
Chula Vista is the second-largest city in San Diego County, with a diverse and growing population supported by stable employment sectors including healthcare, education, government, retail, and cross-border commerce. Downtown Chula Vista benefits from a strong local workforce, a growing small-business ecosystem, and continued residential development that supports demand for neighborhood-serving office and service uses.
OFFICE MARKET CONTEXT The Downtown Chula Vista office market is primarily composed of small-format, multitenant buildings that cater to local professionals, including medical users, legal offices, insurance firms, consultants, and service providers. Compared to coastal and Class A office submarkets, Third Avenue offers lower occupancy costs, flexible space configurations, and longterm upside through leasing, repositioning, or redevelopment. Demand in this submarket is driven by users seeking affordability, visibility, and proximity to clients rather than institutional office amenities, making well-located properties with flexible tenancy structures particularly attractive to investors.
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