Office Building with Covered
New
For Sale
$2,500,000
2419 El Cajon, San Diego, CA 92104
An existing architectural office pairs open work areas and a glass-walled conference room with outdoor space beneath a pergola.
Property Size5,000 SF
Lot Size0.16 Acres
Price / SF$500
Days on Market7
Property Features for 2419 El Cajon
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.16 Acres
Property subtype
COMMERCIAL
Site & Location
Road Access
Yes
Public Transit
Yes
Amenities
covered patio
Building Details
Year Built
1961
Buildings
1
Building Size
5,000 SF
Listing Agency:
Coldwell Banker Realty
Listed By:
Steven Rotsart · License #01254025
(619) 461-5800
Source:
Velocityrealtysd
Added: Sep 25
Changed: Sep 28
Last Checked: Sep 30 at 4:26PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 5,000-square-foot office building is configured as an architectural office, with an entry reception and gallery, open work areas, and a glass-walled conference room. Exposed ductwork and concrete floors define the interior, while a bar and lounge at the rear connect to a covered patio beneath a wood pergola. The building dates to 1961, and the parcel contains approximately 7,124 square feet, or 0.16 acres.
The property is at 2419 El Cajon Boulevard near Texas Street in North Park, San Diego. Full-height storefront glazing spans the building’s street-facing side, and dedicated bus lanes run along the frontage. Restaurants, coffee shops, and retail stores are nearby. The existing layout can accommodate office, design, showroom, or retail use, as described in the property information.
The property is at 2419 El Cajon Boulevard near Texas Street in North Park, San Diego. Full-height storefront glazing spans the building’s street-facing side, and dedicated bus lanes run along the frontage. Restaurants, coffee shops, and retail stores are nearby. The existing layout can accommodate office, design, showroom, or retail use, as described in the property information.
Key Highlights
- 5,000 square foot commercial building
- Parcel is approximately 7,124 square feet (0.16 acres)
- Reception and gallery, open work areas, and glass‑walled conference room
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
$120,695
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
4.83%
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%
$2,413,900
$2.4M
Cap Rate 7%
$1,724,214
$1.7M
Cap Rate 9%
$1,341,056
$1.3M
Market Conditions
NOI Build-Up for 5,000 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
$180.0K $36.00/SF
− Vacancy
−$7.6K −$1.52/SF
EGI
$172.4K $34.48/SF
− OpEx
−$51.7K −$10.35/SF
NOI
$120.7K $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%
$2,413,900
Cap Rate 7%
$1,724,214
Cap Rate 9%
$1,341,056
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,695 @ 7.0% cap · market cap 4.83%
Second Best
Office B
$1.38M
$1.21M – $1.61M
NOI $96,525 @ 7.0% cap · market cap 3.86%
Theoretical Best
Specialty Retail
$1.97M
$1.73M – $2.30M
NOI $138,240 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 92104, CA
44,265
Population
24,580
Households
1.8
Avg Household Size
36
Median Age
55%
College-Educated
94%
High-School Grad
3.7 sq mi
ZIP Area
11,964
Density / Sq Mi
$92,862
Median Household Income
$60,195
Median Earnings
$1,925
Median Rent
$861,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Diego, CA
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Frequently Asked Questions
What type of property is this?
Office building - An existing architectural office pairs open work areas and a glass-walled conference room with outdoor space beneath a pergola.
Where is this office building located?
The property is located at 2419 El Cajon San Diego, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 5,000 square foot commercial building; Parcel is approximately 7,124 square feet (0.16 acres); Reception and gallery, open work areas, and glass‑walled conference room
