Turn-Key Penthouse Office
For Sale
$3,875,000
1350 Columbia St, San Diego, CA 92101
Designer-furnished, open-concept office with panoramic windows and secure elevator access on a full top floor.
Property Size6,678 SF
Price / SF$580.26
Days on Market76
Property Features for 1350 Columbia St
General Information
Standard status
Active
Size
6,678 SF
Total Parking Spaces
7
Property subtype
Commercial
Additional Details
Business Included
Yes
Clear Height
12 ft
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Fantastik Realty
(951) 226-5454
Listed By:
Robert Brown (RobBrownVegas@gmail.com)
Source:
Mrmurrieta
Added: Jun 15
Changed: Aug 17
Last Checked: Aug 29 at 10:12AM
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 Fantastik Realty
Investment Insights
Based on property information with market context.
Claim an entire top penthouse floor on the 9th level at Metrowork Condo, legally comprising three condos combined and delivered as a designer-furnished, fully built-out open-concept office. The space features secure direct-access elevator entry, polished concrete floors, soaring 12' ceilings, exposed steel and ductwork, and panoramic windows wrapping three sides for natural light. The current layout includes a collaborative bullpen with ergonomic workstations, a glass-walled conference room, two privacy phone pods, and a hospitality bar with sink, dishwasher, and beverage fridge. Additional improvements include a lounge area suitable for client pitches, a dedicated server/storage room, and an in-suite restroom. Plug-and-play infrastructure is in place, including CAT-6, fiber service, ceiling-mounted speakers, smart HVAC, and security cameras.
Located in Downtown’s Columbia/Little Italy creative hub, the penthouse offers close proximity to Waterfront Park and Amtrak/Trolley, as well as access to Little Italy dining. The property is also described as providing quick access to I-5 and the airport. HOA fee is reported to cover water, trash, janitorial of common areas, and a lobby with a digital directory. Furniture, fixtures, and equipment are negotiable.
This configuration is well-suited for tenants or owner-occupants seeking a full-floor identity with a turnkey, client-ready buildout, in-suite restroom, and on-site systems intended to support immediate move-in. Included are 7 deeded, gated parking spaces plus bike storage, with additional guest parking garages nearby. Buyer to verify square footage per tax records.
Located in Downtown’s Columbia/Little Italy creative hub, the penthouse offers close proximity to Waterfront Park and Amtrak/Trolley, as well as access to Little Italy dining. The property is also described as providing quick access to I-5 and the airport. HOA fee is reported to cover water, trash, janitorial of common areas, and a lobby with a digital directory. Furniture, fixtures, and equipment are negotiable.
This configuration is well-suited for tenants or owner-occupants seeking a full-floor identity with a turnkey, client-ready buildout, in-suite restroom, and on-site systems intended to support immediate move-in. Included are 7 deeded, gated parking spaces plus bike storage, with additional guest parking garages nearby. Buyer to verify square footage per tax records.
Key Highlights
- 2007‑built Metrowork condo with 9th‑floor suite that is legally 3 condos combined for an entire top floor office (approx. 6,678 sf per tax records; verify).
- Secure direct‑access elevator opens to polished concrete floors, 12' ceilings, exposed steel/ductwork, and panoramic windows wrapping three sides.
- Current layout includes collaborative bullpen, glass‑walled conference room, two privacy phone pods, hospitality bar with sink/dishwasher/beverage fridge, lounge, and in‑suite restroom.
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
$128,919
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
3.33%
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%
$2,578,380
$2.6M
Cap Rate 7%
$1,841,700
$1.8M
Cap Rate 9%
$1,432,433
$1.4M
Market Conditions
NOI Build-Up for 6,678 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
$200.3K $30.00/SF
− Vacancy
−$28.4K −$4.26/SF
EGI
$171.9K $25.74/SF
− OpEx
−$43.0K −$6.44/SF
NOI
$128.9K $19.31/SF
Area
San Diego, CA
Vacancy
14.20%
Lease Rate
$30.00 /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%
$2,578,380
Cap Rate 7%
$1,841,700
Cap Rate 9%
$1,432,433
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $128,919 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.08M
NOI $184,633 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
10,862
Businesses Nearby
Explore this area
Business Placement
Demographics for 92101, CA
47,505
Population
32,909
Households
1.4
Avg Household Size
39
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
8,797
Density / Sq Mi
$90,477
Median Household Income
$72,371
Median Earnings
$2,351
Median Rent
$740,500
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Designer-furnished, open-concept office with panoramic windows and secure elevator access on a full top floor.
Where is this office units located?
The property is located at 1350 Columbia St San Diego, CA.
What is the asking price?
The asking price for this property is $3,875,000.
What are key features of this property?
This property features: 2007‑built Metrowork condo with 9th‑floor suite that is legally 3 condos combined for an entire top floor office (approx. 6,678 sf per tax records; verify).; Secure direct‑access elevator opens to polished concrete floors, 12' ceilings, exposed steel/ductwork, and panoramic windows wrapping three sides.; Current layout includes collaborative bullpen, glass‑walled conference room, two privacy phone pods, hospitality bar with sink/dishwasher/beverage fridge, lounge, and in‑suite restroom.
