Former Rite Aid Property in Ocean Beach Sold for $12.6 Million — New Owner Could Build High-Density Mixed-Use Project
The former Rite Aid property in Ocean Beach has been sold for a cool $12.6 Millions. The 1.66 acre site at 4840 Niagara Avenue has been a tempting plum to pluck for months since Rite Aid closed and now it has happened. The retail building — which used to be a Mayfair market before Rite Aid — is 20,155-square-feet.
One of the largest commercial real estate and investment firms in the country — if not the world — CBRE — facilitated the sale, with agents from CBRE (Chase Bank Real Estate) representing both the seller and the buyer in the transaction.
At this moment, we don’t know who the buyer is, but we do have a call into the CBRE media agent listed in the recent announcement dated Jan. 28, 2026.
A senior vice-president of CBRE, Reg Kobzi, was quoted in the announcement:
“This transaction underscores the enduring appeal and scarcity of well-located, parking-rich retail assets in San Diego’s coastal communities. Big-box retail opportunities like this former Rite Aid with on-site parking in Ocean Beach are extremely rare, reflecting strong investor confidence in the area’s fundamentals and tenant demand.”

Dozens of demonstrators gathered in front of the Rady Shell, Monday, Feb. 2, protesting the high electrical rates of San Diego Gas and Electric. It was held outside of DTECH, an annual meeting that bills itself as the largest gathering of utility professionals in the country.
Amid all the crap that we as Americans are having to deal with coming out of the Trump administration, there is good news.
Last week, the City of San Diego announced that 14 roadways and intersections throughout San Diego have been labeled as “high-crash locations” and “will potentially receive safety enhancements.”
There were at least three consecutive days of protests in San Diego County against ICE and in solidarity with Minneapolis over this past weekend.
It’s amazing. Saturday morning, January 24 — the morning that ICE / border patrol agents shot and murdered Alex Pretti — was 3 days ago – and today we still don’t know who shot him. We still don’t know which agent or agents fired the 10 bullets into his body at point-blank range.
The City of San Diego has just released a 
There are more and more calls to invoke the Constitution’s 25th Amendment as Donald Trump’s poor mental state becomes more and more obvious. These calls have accelerated since Trump’s deranged statements and efforts to seize Greenland. The 25th Amendment allows for the removal of a president if certain substantive criteria are met.
By Jillian Butler
Hundreds of people were forced to flee a homeless shelter near downtown San Diego as floodwaters rushed through the front door just recently, leaving many with few belongings.



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