Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Apartment Development Land Opportunity Title is generated by Realmo AI

    241 W Danenberg Dr, El Centro, CA 92243

    View on Map
    Claim this Listing
    For Sale
    $3,049,200

    LAND - El Centro, CA

    Lot size:
    10.00 Acres
    Added:
    Sep 20, 2024
    Days on Market:
    610
    Last Refresh:
    May 22 at 5:06 pm

    Property Features for 241 W Danenberg Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R2
    Standard status
    Active
    APN
    054-360-008-000
    Lot size
    10.00 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Patricia Seay

    Listing agent Patricia Seay License #01218535

    Listing office Pat Seay Real Estate 1411 State St. Suite B, El Centro, CA

    Listing date Sep 20, 2024

    MLS# 24443363IC Listing URL

    Copyright © 2026 Imperial County Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approved zoning for multi‑family development, allowing up to 125 units.
    • Large 10‑acre site, a rare find for development in this area.
    • Excellent location between two major roads (Dogwood Road and 4th Street/Hwy 86).
    • Close proximity to major retailers, restaurants, and the Imperial Valley Mall.
    • Convenient access to Interstate 8.
    • Area has strong demand for rental housing.

    Overview

    This 10-acre site in El Centro, California, presents an opportunity for apartment development. Zoned for multi-family development, the property allows for the construction of up to 125 units. The location is situated between Dogwood Road, near big box stores and the Imperial Valley Mall, and 4th Street (Highway 86), which features businesses such as In-N-Out and 7-11, Starbucks, Habit Burger, Panera Bread, the Home Depot, AutoZone, and IHOP, as well as hotels. The 4th Street area also includes a new state courthouse and a new 30,000 square foot CHP office currently under construction, plus numerous County offices including Imperial County social services and the Health Department. Access to Interstate 8 is nearby. The property is located at the end of Danenberg Road.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    El Centro
    County
    Imperial
    State
    California
    Longitude
    -115.546211
    Latitude
    32.764813

    Nearby Similar for Sale

    • $1,295,000

      El Centro Nightclub and Bar

      Turnkey nightclub and bar in El Centro, California for sale.
      600 W. Main Street, El Centro, CA 92243
      View Details
    • $998,880
      2,330 SF

      El Centro Restaurant Building For Sale

      Restaurant building in El Centro with full commercial kitchen.
      445 E Main, El Centro, CA 92243
      View Details
    • $990,000

      Prime Commercial Land in El Centro

      4.15 acres of commercial land in a high-traffic area.
      3103 S 4th St, El Centro, CA 92243
      View Details
    • $150,000

      Commercial Lot Near Main St

      High visibility commercial lot near Main St in El Centro.
      410 E State St, El Centro, CA 92243
      View Details
    • $425,000

      Expansive Land Parcel in El Centro

      Nearly 2.5-acre parcel in high-traffic area, close to amenities.
      1605 Us Highway 86, El Centro, CA 92243
      View Details
    • $345,000
      1,800 SF

      El Centro Duplex Opportunity

      Duplex in El Centro, suitable for investment or multigenerational living.
      526 Vine St, El Centro, CA 92243
      View Details
    • $1,300,000

      47.38 Acres in El Centro

      Agricultural land with rail access near Naval Air Facility.
      1542 W Evan Hewes Highway, El Centro, CA 92243
      View Details
    • $675,000
      3,471 SF

      El Centro Multifamily Investment Opportunity

      Five-unit residential property near Vons Shopping Center in El Centro.
      1034 Woodward Ave, El Centro, CA 92243
      View Details
    • $755,000

      Prime Commercial Land in El Centro

      Commercial land surrounded by successful retailers, eateries, and hotels.
      705 E Dannenberg, El Centro, CA 92243
      View Details
    • $250,000

      El Centro Land Opportunity

      3.66 acres with well, septic, and concrete pad.
      2465 Meloland Rd, El Centro, CA 92243
      View Details
    • $350,000

      El Centro Commercial Land

      1.88 acres of commercial land in a high-growth area.
      1998 S Dogwood Rd, El Centro, CA 92243
      View Details
    • $150,000

      El Centro Commercial Land

      Commercially zoned land near I-8 and Imperial Valley Mall.
      1887 S Dogwood Rd, El Centro, CA 92243
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 10-acre site for apartment development in El Centro, CA.
    Where is this residential land & home lot located?
    The property is located at 241 W Danenberg Dr El Centro, CA.
    What is the asking price?
    The asking price for this property is $3,049,200.
    What are key features of this property?
    This property features: Approved zoning for multi‑family development, allowing up to 125 units.; Large 10‑acre site, a rare find for development in this area.; Excellent location between two major roads (Dogwood Road and 4th Street/Hwy 86).
    (760) 353-0849
    We can help!
    Listing Contact
    Patricia Seay
    Real Estate License ID: 01218535
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    241 W Danenberg Dr, El Centro, CA 92243
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!