The multilevel, multitenant 13,500-square-foot flex office/retail building in the Park West neighborhood at 2121 Fifth Ave., San Diego 92101, has been sold for $1.9 million, cash.
The buyer was Vincent Meardon, 1465 Neptune Ave., Encinitas 92024.
The seller of the property (assessor's parcel 533-203-08) was Loechler LLC, a California limited liability company, with Alma Loechler manager.
Ben Tashakorian and Nick Totah, investment specialists in Marcus & Millichap's San Diego office, had the exclusive listing to market the property for the seller and also represented the buyer.
The two-story building was constructed in 1980 on a 10,000-square-foot corner lot at Fifth and Hawthorn Street. The property is currently 57 percent occupied.
Approximately 65 percent of the property has been remodeled, according to John Vorsheck, regional manager of M&M's San Diego office.
The building consists of top floor office space, approximately 3,200 square feet of ground floor retail space and a subterranean parking ratio of 1/1000.
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