Mixed-Use Industrial
For Sale
Contact for pricing
1920 Hancock St, San Diego, CA 92110
Urban infill property combines warehouse space, residential apartments, offices, and a gated parking yard.
Property Size11,400 SF
Lot Size0.23 Acres
Price / SF$412.28
Days on Market192
Property Features for 1920 Hancock St
General Information
Standard status
Active
Size
11,400 SF
Lot size
0.23 Acres
Property subtype
Industrial, Mixed Use, Multifamily
Zoning
CC-3-8
Lease Type
Gross
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
15 ft
Warehouse Space
6,000 SF
Sprinkler System
Yes
Additional Details
Asking Price
$4,700,000
Multifamily Units
4
Building Details
Buildings
1
Stories
2
Building Size
11,400 SF
Listing Agency:
CAST CAPITAL PARTNERS
(619) 308-6787
Listed By:
Bret Morriss · License #CA 02037074
Source:
Crexi
Added: Feb 19
Changed: Aug 29
Last Checked: Aug 29 at 9:14PM
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 CAST CAPITAL PARTNERS
Investment Insights
Based on property information with market context.
This mixed-use building contains 11,400 square feet on 0.23 acres, with approximately 6,000 square feet dedicated to leasable warehouse and industrial space alongside four residential apartment units. The industrial portion includes four private offices, two restrooms, 15-foot clear height, heating throughout, and a full sprinkler system. A secure gated parking yard supports the property’s operational configuration.
The asset is in San Diego’s urban core, with access and visibility from I-5. San Diego International Airport, Downtown, Little Italy, Old Town, and the Midway/Sports Arena District are all located nearby. CC-3-8 zoning is identified for the property.
The asset is in San Diego’s urban core, with access and visibility from I-5. San Diego International Airport, Downtown, Little Italy, Old Town, and the Midway/Sports Arena District are all located nearby. CC-3-8 zoning is identified for the property.
Key Highlights
- 11,400 SF mixed‑use building on 0.23 acres
- Approximately 6,000 SF of leasable warehouse and industrial space
- Four residential apartment units provide income‑producing space
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
$220,248
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
4.69%
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%
$4,404,960
$4.4M
Cap Rate 7%
$3,146,400
$3.1M
Cap Rate 9%
$2,447,200
$2.4M
Market Conditions
NOI Build-Up for 11,400 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
$383.0K $33.60/SF
− Vacancy
−$30.6K −$2.69/SF
EGI
$352.4K $30.91/SF
− OpEx
−$132.1K −$11.59/SF
NOI
$220.2K $19.32/SF
Area
San Diego, CA
Vacancy
8.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
37.50%
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%
$4,404,960
Cap Rate 7%
$3,146,400
Cap Rate 9%
$2,447,200
Alternative Uses
Best Use
Mixed Use
$3.15M
$2.75M – $3.67M
NOI $220,248 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$2.69M
$2.36M – $3.14M
NOI $188,420 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$4.50M
$3.94M – $5.25M
NOI $315,187 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15 ft
Clear height
4
Residential units
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,775
Businesses Nearby
Explore this area
Business Placement
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 Industrial in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Urban infill property combines warehouse space, residential apartments, offices, and a gated parking yard.
Where is this mixed-use property located?
The property is located at 1920 Hancock St San Diego, CA.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 11,400 SF mixed‑use building on 0.23 acres; Approximately 6,000 SF of leasable warehouse and industrial space; Four residential apartment units provide income‑producing space
