Mixed-Use Property with Auto
For Sale
$5,950,000
1235 Cushman Ave, San Diego, CA 92110
Automotive operations and a one-bedroom apartment occupy the property, with month-to-month tenancy in place.
Property Size12,650 SF
Price / SF$470.36
Days on Market29
Property Features for 1235 Cushman Ave
General Information
Standard status
Active
Size
12,650 SF
Property subtype
Warehouse
Additional Details
Highway Access
Yes
Amenities
3
Building Details
Year Built
1978
Listing Agency:
Coldwell Banker West
(619) 737-2126
Listed By:
Coldwell Banker West
Source:
Xome
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 24 at 3:01AM
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 Coldwell Banker West
Investment Insights
Based on property information with market context.
Built in 1978, this mixed-use commercial property contains approximately 12,560 SF and combines established automotive uses with a one-bedroom residential apartment. The existing tenancy is month-to-month, providing an occupancy structure that can support continued operations while allowing future planning subject to applicable requirements.
Located at 1235 Cushman Ave in San Diego, the property offers access to Interstate 5, Mission Bay, Old Town, Downtown San Diego, and San Diego International Airport. Its combination of commercial automotive space and residential accommodation creates a varied-use configuration within the San Diego market.
Located at 1235 Cushman Ave in San Diego, the property offers access to Interstate 5, Mission Bay, Old Town, Downtown San Diego, and San Diego International Airport. Its combination of commercial automotive space and residential accommodation creates a varied-use configuration within the San Diego market.
Key Highlights
- ±12,560 SF mixed‑use commercial property
- Established automotive uses on site
- One‑bedroom residential apartment included
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
$305,359
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
5.13%
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%
$6,107,180
$6.1M
Cap Rate 7%
$4,362,271
$4.4M
Cap Rate 9%
$3,392,878
$3.4M
Market Conditions
NOI Build-Up for 12,650 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
$455.4K $36.00/SF
− Vacancy
−$19.2K −$1.52/SF
EGI
$436.2K $34.48/SF
− OpEx
−$130.9K −$10.35/SF
NOI
$305.4K $24.14/SF
Area
San Diego, CA
Vacancy
4.21%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
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%
$6,107,180
Cap Rate 7%
$4,362,271
Cap Rate 9%
$3,392,878
Alternative Uses
Best Use
Retail
$4.36M
$3.82M – $5.09M
NOI $305,359 @ 7.0% cap · market cap 5.13%
Second Best
Mixed Use
$3.49M
$3.05M – $4.07M
NOI $244,398 @ 7.0% cap · market cap 4.11%
Theoretical Best
Specialty Retail
$5.00M
$4.37M – $5.83M
NOI $349,747 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
95k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 37%
Home Improvements & Furnishings 21%
Apparel 1%
Starbucks
Dining
12,319 visits/mo
0.3 miles
Carl's Jr.
Dining
11,181 visits/mo
0.3 miles
7-Eleven
Shops & Services
10,775 visits/mo
0.3 miles
Floor & Decor
Home Improvements & Furnishings
8,776 visits/mo
0.3 miles
U.S. Bank
Shops & Services
5,791 visits/mo
0.2 miles
Demographics for 92110, CA
31,048
Population
13,227
Households
2.3
Avg Household Size
34
Median Age
54%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
6,210
Density / Sq Mi
$102,508
Median Household Income
$52,150
Median Earnings
$2,298
Median Rent
$885,200
Median Home Value
Market
Vacancy Rate% for Retail in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Automotive operations and a one-bedroom apartment occupy the property, with month-to-month tenancy in place.
Where is this mixed-use property located?
The property is located at 1235 Cushman Ave San Diego, CA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: ±12,560 SF mixed‑use commercial property; Established automotive uses on site; One‑bedroom residential apartment included
