Mixed-Use Property in San
For Sale
Contact for pricing
2367-91 SAN DIEGO AVENUE & 3961-69 ARISTA STREET, San Diego, CA 92110
Mixed-use property with restaurants, retail, and residential components.
Property Size12,948 SF
Price / SF$370.71
Days on Market693
Property Features for 2367-91 SAN DIEGO AVENUE & 3961-69 ARISTA STREET
General Information
Standard status
Active
Size
12,948 SF
Class
C
Property subtype
Mixed Use, Retail
Zoning
OT-CC-21
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$223,116
Building Details
Year Built
1959
Buildings
2
Stories
3
Units
15
Listing Agency:
Intersection
Listed By:
Kyle Clark · License #CA 00867784
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 8
Last Checked: Aug 31 at 3:01AM
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 Intersection
Investment Insights
Based on property information with market context.
This mixed-use property comprises two adjacent properties located at 2367-2391 San Diego Avenue and 3961-3969 Arista Street. The property offers a combination of award-winning restaurants, retail spaces, and residential units. The property's size is 12948 square feet. This property is positioned to deliver returns and long-term value.
Key Highlights
- Mixed‑use property with diverse income streams from award‑winning restaurants, retail, and residential components.
- Strategic location with strong market demand.
- Potential for robust returns and long‑term value.
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
$250,155
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
5.21%
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%
$5,003,100
$5.0M
Cap Rate 7%
$3,573,643
$3.6M
Cap Rate 9%
$2,779,500
$2.8M
Market Conditions
NOI Build-Up for 12,948 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
$435.1K $33.60/SF
− Vacancy
−$34.8K −$2.69/SF
EGI
$400.2K $30.91/SF
− OpEx
−$150.1K −$11.59/SF
NOI
$250.2K $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%
$5,003,100
Cap Rate 7%
$3,573,643
Cap Rate 9%
$2,779,500
Alternative Uses
Best Use
Mixed Use
$3.57M
$3.13M – $4.17M
NOI $250,155 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.11M
$4.47M – $5.97M
NOI $357,986 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,459
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
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-use property with restaurants, retail, and residential components.
Where is this mixed-use property located?
The property is located at 2367-91 SAN DIEGO AVENUE & 3961-69 ARISTA STREET San Diego, CA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Mixed‑use property with diverse income streams from award‑winning restaurants, retail, and residential components.; Strategic location with strong market demand.; Potential for robust returns and long‑term value.
