Office Condo with
For Sale
$400,000
1174 BROADWAY, El Cajon, CA 92021
Commercial condo unit includes 1/2 bath and 1,060 sq. ft., suited for small business use with parking access.
Property Size1,060 SF
Price / SF$377.36
Days on Market406
Property Features for 1174 BROADWAY
General Information
Standard status
Active
Size
1,060 SF
Property subtype
General Commercial
Amenities
3
Level
Level.
Building Details
Year Built
1970
Listing Agency:
Keller Williams Realty
(619) 469-0700
Listed By:
Gregg Phillipson · License #01153857
Source:
Xome
Added: Jul 5, 2025
Changed: Aug 8
Last Checked: Aug 14 at 4:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This commercial condo unit for sale is designed for small business operations and includes 1/2 bath within approximately 1,060 square feet.
The property is located at 1174 Broadway, Unit 102 in El Cajon, and is described as having parking and strong visibility for business customers.
The building features the listed unit size and a single half bath, providing a straightforward setup for an office or retail-oriented use where a compact layout is needed.
The property is located at 1174 Broadway, Unit 102 in El Cajon, and is described as having parking and strong visibility for business customers.
The building features the listed unit size and a single half bath, providing a straightforward setup for an office or retail-oriented use where a compact layout is needed.
Key Highlights
- Commercial condo in El Cajon zoned COMMERCIAL
- Approximately 1,060 sq ft commercial condo unit with a 1/2 bath
- Level topography; lot/exterior noted as level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$312,440
$312.4K
Cap Rate 7%
$223,171
$223.2K
Cap Rate 9%
$173,578
$173.6K
Market Conditions
NOI Build-Up for 1,060 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.9K $22.56/SF
− Vacancy
−$3.1K −$2.91/SF
EGI
$20.8K $19.65/SF
− OpEx
−$5.2K −$4.91/SF
NOI
$15.6K $14.74/SF
Area
El Cajon, CA
Vacancy
12.90%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$312,440
Cap Rate 7%
$223,171
Cap Rate 9%
$173,578
Alternative Uses
Best Use
Office B
$223.2K
$195.3K – $260.4K
NOI $15,622 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.4K
$230.5K – $307.3K
NOI $18,436 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,434
Businesses Nearby
Explore this area
Business Placement
Demographics for 92021, CA
70,584
Population
23,360
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
28.0 sq mi
ZIP Area
2,521
Density / Sq Mi
$69,979
Median Household Income
$37,739
Median Earnings
$1,818
Median Rent
$572,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condo unit includes 1/2 bath and 1,060 sq. ft., suited for small business use with parking access.
Where is this office units located?
The property is located at 1174 BROADWAY El Cajon, CA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Commercial condo in El Cajon zoned COMMERCIAL; Approximately 1,060 sq ft commercial condo unit with a 1/2 bath; Level topography; lot/exterior noted as level
