Four-Unit Mixed-Use
For Sale
Contact for pricing
1343-45 Highland Avenue, National City, CA 91950
Combines rear residential units with two commercial suites along a designated mixed-use corridor.
Property Size1,908 SF
Price / SF$469.08
Days on Market43
Property Features for 1343-45 Highland Avenue
General Information
Standard status
Active
Size
1,908 SF
Class
C
Property subtype
Multifamily
Zoning
Estimated
Investment Type
Value Add
Building Details
Buildings
4
Units
4
Tenancy
Multi
Listing Agency:
Lee & Associates San Diego - Carlsbad
(760) 488-2451
Listed By:
Ivan Del Muro-Garcia · License #CA 02169365
Source:
Crexi
Added: Jul 1
Changed: Aug 11
Last Checked: Aug 11 at 5:08PM
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 - Carlsbad
Investment Insights
Based on property information with market context.
This 1,908-square-foot mixed-use property operates with four units in a combination of residential and commercial formats. The rear portion includes a two-bedroom, one-bath home and a one-bedroom, one-bath unit. Two commercial suites face Highland Avenue, consisting of a retail salon and an office. Two of the operating units are positioned for near-term leasing.
The property is located on Highland Avenue in National City within a designated mixed-use commercial corridor. MXC-2 zoning supports single-family, multifamily, and mixed residential/commercial development by right, with development parameters allowing up to 75 dwelling units per acre and building heights of up to 65 feet, subject to the City's approval process.
The property is located on Highland Avenue in National City within a designated mixed-use commercial corridor. MXC-2 zoning supports single-family, multifamily, and mixed residential/commercial development by right, with development parameters allowing up to 75 dwelling units per acre and building heights of up to 65 feet, subject to the City's approval process.
Key Highlights
- Four operating units: two residential units and two ground‑floor commercial suites
- 1,908‑square‑foot mixed‑use property on Highland Avenue
- Residential mix includes a 2‑bedroom, 1‑bath home and a 1‑bedroom, 1‑bath unit
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
$44,149
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
4.93%
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%
$882,980
$883.0K
Cap Rate 7%
$630,700
$630.7K
Cap Rate 9%
$490,544
$490.5K
Market Conditions
NOI Build-Up for 1,908 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
$68.7K $36.00/SF
− Vacancy
−$9.8K −$5.15/SF
EGI
$58.9K $30.85/SF
− OpEx
−$14.7K −$7.71/SF
NOI
$44.1K $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%
$882,980
Cap Rate 7%
$630,700
Cap Rate 9%
$490,544
Alternative Uses
Best Use
Office B
$630.7K
$551.9K – $735.8K
NOI $44,149 @ 7.0% cap · market cap 4.93%
Second Best
Mixed Use
$588.7K
$515.1K – $686.8K
NOI $41,206 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$874.2K
$764.9K – $1.02M
NOI $61,193 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 91950, CA
57,849
Population
19,049
Households
3
Avg Household Size
36
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
7,925
Density / Sq Mi
$63,858
Median Household Income
$34,013
Median Earnings
$1,600
Median Rent
$580,700
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?
Mixed-use property - Combines rear residential units with two commercial suites along a designated mixed-use corridor.
Where is this mixed-use property located?
The property is located at 1343-45 Highland Avenue National City, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Four operating units: two residential units and two ground‑floor commercial suites; 1,908‑square‑foot mixed‑use property on Highland Avenue; Residential mix includes a 2‑bedroom, 1‑bath home and a 1‑bedroom, 1‑bath unit
