Rancho Buena Vista Office
For Sale
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122 Civic Center Dr, Vista, CA 92084
Second floor office condo in Rancho Buena Vista for sale.
Property Size3,000 SF
Price / SF$283.33
Days on Market1096
Property Features for 122 Civic Center Dr
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates - San Diego
(858) 713-9333
Listed By:
Rick Chatham · License #02101796
Source:
Crexi
Added: Aug 19, 2023
Changed: Aug 17
Last Checked: Aug 17 at 8:40AM
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 Lee & Associates - San Diego
Investment Insights
Based on property information with market context.
This 3,000 square foot second-floor office condo, divisible into two suites of 2,000 and 1,000 square feet, is located in Rancho Buena Vista within a 14,508 square foot two-story multi-tenant office building. The property features current tenants in place, providing an income stream pending buyer move-in. Abundant parking is available. The location benefits from high traffic counts on Civic Center Drive, with 31,400 cars per day. It is situated across the street from the new $50 million Vista City Hall and adjacent to Wildwood Park and the Vista Conservancy Nature Trail, overlooking Rancho Buena Vista Adobe & Gardens. Please note that access is via walk-up, with no elevator access.
Key Highlights
- High traffic location on Civic Center Drive (31,400 cars per day)
- Divisible to two suites (2,000 SF & 1,000 SF)
- Current tenants in place providing income stream
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
$69,417
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
8.17%
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%
$1,388,340
$1.4M
Cap Rate 7%
$991,671
$991.7K
Cap Rate 9%
$771,300
$771.3K
Market Conditions
NOI Build-Up for 3,000 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
$108.0K $36.00/SF
− Vacancy
−$15.4K −$5.15/SF
EGI
$92.6K $30.85/SF
− OpEx
−$23.1K −$7.71/SF
NOI
$69.4K $23.14/SF
Area
San Diego County, CA
Vacancy
14.30%
Lease Rate
$36.00 /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%
$1,388,340
Cap Rate 7%
$991,671
Cap Rate 9%
$771,300
Alternative Uses
Best Use
Office B
$991.7K
$867.7K – $1.16M
NOI $69,417 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,215 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 92084, CA
49,941
Population
15,712
Households
3.2
Avg Household Size
37
Median Age
27%
College-Educated
83%
High-School Grad
28.3 sq mi
ZIP Area
1,765
Density / Sq Mi
$97,410
Median Household Income
$42,000
Median Earnings
$1,936
Median Rent
$745,800
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 - Second floor office condo in Rancho Buena Vista for sale.
Where is this office units located?
The property is located at 122 Civic Center Dr Vista, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High traffic location on Civic Center Drive (31,400 cars per day); Divisible to two suites (2,000 SF & 1,000 SF); Current tenants in place providing income stream
