Barrio Logan Redevelopment
For Sale
Contact for pricing
2186-90 National Ave, San Diego, CA 92113
Mixed-use redevelopment opportunity in the heart of Barrio Logan.
Property Size6,742 SF
Lot Size0.31 Acres
Price / SF$341.15
Days on Market210
Property Features for 2186-90 National Ave
General Information
Standard status
Active
Size
6,742 SF
Lot size
0.31 Acres
Property subtype
Multifamily
Zoning
BLPD-SUBD-A
Listing Agency:
Colliers - Los Angeles - La Jolla, California
(858) 373-3237
Listed By:
Aaron Bove · License #CA 01318320
Source:
Crexi
Added: Jan 14
Changed: Aug 8
Last Checked: Jul 23 at 12:00PM
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 Colliers - Los Angeles - La Jolla, California
Investment Insights
Based on property information with market context.
The property at 2186–90 & 94 National Avenue presents a mixed-use redevelopment opportunity in Barrio Logan. The site encompasses approximately 13,728 square feet across multiple parcels. It is governed by the Barrio Logan Planned District with CC-3-6 zoning. The location benefits from incentive overlays, including Complete Communities, the Coastal Zone, TPA, SDA, and the Promise Zone, potentially allowing for increased density and reduced parking requirements. The property currently features a mix of residential, retail, and industrial structures, offering interim functionality alongside long-term development potential. The building size is 6,742 square feet.
Key Highlights
- Prime mixed‑use redevelopment opportunity in Barrio Logan.
- ±13,728 SF across multiple parcels.
- Barrio Logan Planned District with CC‑3‑6 zoning allows for diverse development.
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
$162,746
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
7.08%
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%
$3,254,920
$3.3M
Cap Rate 7%
$2,324,943
$2.3M
Cap Rate 9%
$1,808,289
$1.8M
Market Conditions
NOI Build-Up for 6,742 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
$242.7K $36.00/SF
− Vacancy
−$10.2K −$1.52/SF
EGI
$232.5K $34.48/SF
− OpEx
−$69.7K −$10.35/SF
NOI
$162.7K $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%
$3,254,920
Cap Rate 7%
$2,324,943
Cap Rate 9%
$1,808,289
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,746 @ 7.0% cap · market cap 7.08%
Second Best
Mixed Use
$1.86M
$1.63M – $2.17M
NOI $130,255 @ 7.0% cap · market cap 5.66%
Theoretical Best
Specialty Retail
$2.66M
$2.33M – $3.11M
NOI $186,403 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 92113, CA
50,457
Population
14,443
Households
3.5
Avg Household Size
32
Median Age
11%
College-Educated
69%
High-School Grad
4.5 sq mi
ZIP Area
11,213
Density / Sq Mi
$59,177
Median Household Income
$31,099
Median Earnings
$1,608
Median Rent
$559,100
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 - Mixed-use redevelopment opportunity in the heart of Barrio Logan.
Where is this mixed-use property located?
The property is located at 2186-90 National Ave San Diego, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime mixed‑use redevelopment opportunity in Barrio Logan.; ±13,728 SF across multiple parcels.; Barrio Logan Planned District with CC‑3‑6 zoning allows for diverse development.
