Standalone Flex Space with Fenced
For Sale
Contact for pricing
2573 Market St, San Diego, CA 92102
Warehouse/office configuration with private offices, conference space, and a secured outdoor yard.
Property Size2,500 SF
Lot Size0.24 Acres
Price / SF$630
Days on Market560
Property Features for 2573 Market St
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.24 Acres
Property subtype
FLEX_R_AND_D
Zoning
CC-3-6
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Drive-In Doors
1
Power
200 amps
Building Details
Buildings
2
Building Size
2,500 SF
Listing Agency:
JLL | San Diego
(858) 352-2905
Listed By:
Jackson Childers · License #02224366
Source:
Moodyscre
Added: Feb 18, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:58PM
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 JLL | San Diego
Investment Insights
Based on property information with market context.
This standalone flex property combines a warehouse and office building with separate outdoor storage. The ±2,500 SF structure includes conference space, private offices, and 1 grade-level door, while a ±200 SF storage shed supports additional on-site storage needs. The property also provides 200 Amps of power and a ±10,000 SF fenced yard on a ±0.24-acre site.
Two access points serve the property from Market Street and an alley. Its San Diego location offers proximity to SR-94 and I-5. The site is zoned CC-3-6, described as highly flexible; the buyer or lessee is responsible for confirming permitted uses through the City of San Diego. Parking is provided at a 3.7/1,000 ratio.
Two access points serve the property from Market Street and an alley. Its San Diego location offers proximity to SR-94 and I-5. The site is zoned CC-3-6, described as highly flexible; the buyer or lessee is responsible for confirming permitted uses through the City of San Diego. Parking is provided at a 3.7/1,000 ratio.
Key Highlights
- ±2,500 SF warehouse/office building on a ±0.24‑acre stand‑alone site
- ±10,000 SF fenced yard plus a ±200 SF storage shed
- Office component includes conference space and private offices
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
$48,263
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
3.06%
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%
$965,260
$965.3K
Cap Rate 7%
$689,471
$689.5K
Cap Rate 9%
$536,256
$536.3K
Market Conditions
NOI Build-Up for 2,500 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
$75.0K $30.00/SF
− Vacancy
−$10.6K −$4.26/SF
EGI
$64.4K $25.74/SF
− OpEx
−$16.1K −$6.44/SF
NOI
$48.3K $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%
$965,260
Cap Rate 7%
$689,471
Cap Rate 9%
$536,256
Alternative Uses
Best Use
Office B
$689.5K
$603.3K – $804.4K
NOI $48,263 @ 7.0% cap · market cap 3.06%
Second Best
Flex RnD
$518.1K
$453.4K – $604.5K
NOI $36,270 @ 7.0% cap · market cap 2.30%
Theoretical Best
Specialty Retail
$987.4K
$864.0K – $1.15M
NOI $69,120 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,210
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92102, CA
39,783
Population
15,622
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
80%
High-School Grad
4.5 sq mi
ZIP Area
8,841
Density / Sq Mi
$71,319
Median Household Income
$40,142
Median Earnings
$1,855
Median Rent
$646,600
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse/office configuration with private offices, conference space, and a secured outdoor yard.
Where is this flex space located?
The property is located at 2573 Market St San Diego, CA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: ±2,500 SF warehouse/office building on a ±0.24‑acre stand‑alone site; ±10,000 SF fenced yard plus a ±200 SF storage shed; Office component includes conference space and private offices
