Rarely Available Land on Coronado Gets Snapped Up

Land on Coronado doesn’t come along often but .32 acres recently did just that and sold for $7.4 million. The buyer was MB Property Acquisitions and KD Development which plans to develop 10 townhomes with an average price of $2.5 million. This is the fourth development for this venture and construction is expected to commence in February 2022.     

Aaron Bove and Jared Wallach in Marcus & Millichap’s Del Mar office, had the exclusive listing to market the property on behalf of the seller, Kerry Keiser Trust.

“This Coronado development (operated as a mixed-use office/multifamily property) presents investors with significant rental upside in the heart of one of the nation’s top idyllic beach cities,” said Wallach. 

The buyers were procured by Bove.

“Coronado has some of the most expensive real estate in the county and now it will be getting a new luxury-style townhome development that should set the standard for the area,” says Bove. “There is hardly a more central location on the island to call home if you want to be near all the best shopping, dining, golf and beaches.”

Situated at 543-555 Orange Ave. along the block of Orange Avenue, this central retail passageway starts from the Bay to the beach. It is within 0.9 miles to local tourist attractions such as the Centennial Park, Coronado Ferry Center and the historic Hotel Del Coronado.