Four-Story Mixed-Use
New
For Sale
$5,800,000
920 Kline Street, La Jolla, CA 92037
Mixed retail and office occupancy is supported by an updated elevator and private baths in many suites.
Property Size20,000 SF
Lot Size1.50 Acres
Price / SF$290
Days on Market2
Property Features for 920 Kline Street
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
60
Lot size
1.50 Acres
Property subtype
Commercial
Occupancy
100%
Financials
Asking Price
$5,800,000
Business Included
Yes
Additional Details
Furnished
Yes
Public Transit
Yes
Office Units
30
Amenities
ocean view
spacious patio
updated elevator
private baths
Building Details
Year Built
2005
Buildings
2
Stories
4
Construction
concrete
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
TSG Premier Realty
(951) 226-5454
Listed By:
Larry Lewis (larrylewis111@outlook.com)
Source:
Mrmurrieta
Added: Sep 15
Last Checked: Sep 15 at 2:16PM
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 TSG Premier Realty
Investment Insights
Based on property information with market context.
Located at 920 Kline Street in La Jolla, this four-story mixed-use property contains approximately 9,579 SF of rentable area. The building includes four retail spaces and eight office spaces, with private baths serving many suites. An updated elevator provides access throughout the property, while fourth-floor offices open to a spacious patio with panoramic ocean and Village views.
The property is positioned in the Village of La Jolla, four blocks from the ocean. Its upper-level offices benefit from ocean views, and the building has a 94% leased rate. Constructed in 1963, the property occupies a 0.70-acre lot and is identified as APN 350-322-10.
The property is positioned in the Village of La Jolla, four blocks from the ocean. Its upper-level offices benefit from ocean views, and the building has a 94% leased rate. Constructed in 1963, the property occupies a 0.70-acre lot and is identified as APN 350-322-10.
Key Highlights
- Approximately 9,579 SF across 4 floors
- Tenant mix includes 4 retail and 8 office spaces
- 94% leased
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
$482,782
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
8.32%
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%
$9,655,640
$9.7M
Cap Rate 7%
$6,896,886
$6.9M
Cap Rate 9%
$5,364,244
$5.4M
Market Conditions
NOI Build-Up for 20,000 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
$720.0K $36.00/SF
− Vacancy
−$30.3K −$1.52/SF
EGI
$689.7K $34.48/SF
− OpEx
−$206.9K −$10.35/SF
NOI
$482.8K $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%
$9,655,640
Cap Rate 7%
$6,896,886
Cap Rate 9%
$5,364,244
Alternative Uses
Best Use
Retail
$6.90M
$6.03M – $8.05M
NOI $482,782 @ 7.0% cap · market cap 8.32%
Second Best
Mixed Use
$5.52M
$4.83M – $6.44M
NOI $386,400 @ 7.0% cap · market cap 6.66%
Theoretical Best
Specialty Retail
$7.90M
$6.91M – $9.22M
NOI $552,960 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
30
Office units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 92037, CA
41,260
Population
19,628
Households
2.1
Avg Household Size
43
Median Age
76%
College-Educated
98%
High-School Grad
12.0 sq mi
ZIP Area
3,438
Density / Sq Mi
$141,822
Median Household Income
$64,545
Median Earnings
$2,632
Median Rent
$1,857,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed retail and office occupancy is supported by an updated elevator and private baths in many suites.
Where is this mixed-use property located?
The property is located at 920 Kline Street La Jolla, CA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Approximately 9,579 SF across 4 floors; Tenant mix includes 4 retail and 8 office spaces; 94% leased
