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.
by Niko Padilla /
Amid all the crap that we as Americans are having to deal with coming out of the Trump administration, there is good news.
The American citizenry have to withstand a daily barrage of stupid, crazy and frightening declarations that emanate out of the White House — but none are more scary than a recent statement by Trump on a conservative podcast Sunday, Feb. 1, when he said Republicans should “nationalize” American elections.
by Ernie McCray
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.”
One of the most recognizable OB establishments, an icon of the counter-culture — The Black — is set to close after 57 years.
There were at least three consecutive days of protests in San Diego County against ICE and in solidarity with Minneapolis over this past weekend.
by: Amber Coakley /




Recent Comments