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    2262 Carmel Valley Rd Del Mar, CA 92014

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    For Sale
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    Prime location near beaches and affluent neighborhoods with strong market fundamentals.

    Type:Office
    Property size:
    10,056 SF
    Price / SF:
    $950/SF
    Added:
    Nov 18, 2024
    Days on Market:
    520
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2262 Carmel Valley Rd

    General Information

    Standard status
    Active
    Size
    10,056 SF
    Property subtype
    Office

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Matt Pourcho

    Listing agent Matt Pourcho License #CA 01705763

    Listing office CBRE - San Diego

    Listing date Nov 18, 2024

    Source Crexi

    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 CBRE - San Diego

    Overview

    Del Mar Coastal Office Building

    This commercial property is located in Del Mar, an area known for high rents for Class A office spaces. Office buildings in Del Mar, west of the 5 freeway, have low vacancy rates, averaging 3.1% over five years and currently at 5.9%. The property's location is near Scripps Medical cluster to the south and surrounding technology clusters. Situated in a waterfront location, the property is close to beach amenities. Its corner-lot site on Carmel Valley Road allows access to State Route 56 and Interstate 5, one mile away. Frontage on Carmel Valley Road provides monument signage opportunities. The property is north of La Jolla, near Rancho Santa Fe, La Jolla, Solana Beach, and Encinitas. Del Mar is home to Torrey Pines State Park and the Del Mar Thoroughbred Club. The city's average household income is approximately $290,370 and average home value over $3,686,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Katriel Law Firm Law Firm Bunn Law group Law Firm Coughlan & Vinel, LLP Law Firm Ginger Wishner Medical Clinic Bodell Law Group Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Del Mar
    County
    San Diego
    State
    California
    Longitude
    -117.2537843
    Latitude
    32.9337126

    Nearby Similar for Sale

    • $12,995,000
      14,111 SF

      Del Mar Office Building

      Office building for sale in Del Mar, California.
      853 Camino Del Mar, Del Mar, CA
      View Details
    • Contact for pricing
      2,582 SF

      Del Mar Retail Investment Opportunity

      Two retail properties in downtown Del Mar, California for sale.
      215-217 15th St, Del Mar, CA
      View Details

    FAQs

    What type of property is this?
    Office building - Prime location near beaches and affluent neighborhoods with strong market fundamentals.
    Where is this office building located?
    The property is located at 2262 Carmel Valley Rd Del Mar, CA.
    What is the asking price?
    The asking price for this property is $9,553,200.
    What are key features of this property?
    This property features: Prime Del Mar location, highly sought‑after with San Diego's highest rents for Class A office space.; Low vacancy rates in Del Mar office buildings west of the 5 freeway (currently 5.9%, 5‑year average of 3.1%).; Strategic location near Scripps Medical cluster and technology clusters, attracting top office users.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Pourcho
    Real Estate License ID: CA 01705763
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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