The Reserve 2333 State St 19,896 SF 100% Leased 4-Star Office Building Carlsbad, CA 92008 $16,003,729 CAD ($804.37 CAD/SF) 6% Cap Rate

With an incomparable location at the gateway to Carlsbad Village, offering a front row seat to a bustling market, The Reserve stands in a class of its own. Located at the northern entry point into Carlsbad Village, this premier office and medical property offers unmatched visibility and a commanding presence. Between 2022 and 2025, ownership completed extensive renovations, including a refreshed exterior facade, new outdoor areas and landscaping, and an updated lobby. All interior suites feature newly constructed, high-end creative improvements. The Reserve is fully stabilized, generating strong in-place cash flow from existing tenants while maintaining rollover flexibility ideal for an owner/user investor.

Additionally, the existing three-story office building offers developers a rare covered-land opportunity, with in-place income generating an immediate 6% return on cost. The property is positioned for significant land value appreciation over the next decade, supported by annual rent escalations of 3%. This ocean view, 1-acre site offers a variety of future development and redevelopment opportunities. The current suite configuration provides an opportunity for a future investor to place a commercial condominium map on the property, enabling the sale of the suites individually.

Be enchanted by The Reserve's exceptional scenery of the Buena Vista Lagoon, California’s only freshwater lagoon, designated as an Ecological Reserve and spanning over 220 acres. Recently, the cities of Oceanside and Carlsbad partnered with SANDAG to complete a restoration project that is enhancing the lagoon’s hydrological connectivity to the ocean, providing an unmatched environment for The Reserve.

This site also benefits from the Village and Barrio Master Plan, which is enhancing walkability, expanding green spaces, and creating vibrant, pedestrian-friendly corridors such as the envisioned Grand Avenue Promenade. The neighborhood is undergoing a dynamic transformation with notable mixed-use developments, including The Roosevelt, Rincon Roosevelt, and Village Plaza, bringing new residences and retail to create a more modern, transit-oriented downtown.

Situated at the gateway to Carlsbad Village, this distinguished property provides immediate access to the Pacific Ocean as well as a range of vibrant downtown amenities. Transit options are conveniently located just blocks away at Carlsbad Village Station, facilitating seamless commuting. Tenants can take advantage of a diverse array of nearby dining and retail establishments, including Wildland, PureTaco, Shorehouse Kitchen, Better Buzz Coffee, and Smart & Final. The Reserve's location also caters to outdoor enthusiasts, with Maxton Brown Park, Cypress Avenue Beach Access, and the scenic Buena Vista Lagoon all within 1 mile. Finally, Interstate 5 is easily accessible for those traveling throughout Southern California.

The Reserve is more than just a property. It's a gateway to thriving business, inspired living, and sustained appreciation in an unparalleled coastal setting.