Creative Office with Covered
New
For Sale
$2,500,000
2419 El Cajon, San Diego, CA 92104
Commercial Sale, San Diego, CA
Property Size5,000 SF
Lot Size0.16 Acres
Price / SF$500
Days on Market3
Property Features for 2419 El Cajon
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMERCIAL
Lot features
Free Standing, Remarks
Subdivision
NORTH PARK (92104)
Standard status
Active
APN
445-412-11-00
Lot size
0.16 Acres
Utilities
Heating system
Forced Air, Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
open reception and gallery area
glass-walled conference room
bar and lounge area
covered patio under a wood pergola
Building Details
Year built
1961
Floors in Building
1
Number of units
1
Flooring type
Slab
Roof type
Composition
Listing Agency:
Coldwell Banker Realty
(619) 460-6600
Listed By:
Steven J Rotsart Jr · License #01254025
(619) 461-5800
Added: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 260023441
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,000-square-foot creative office in San Diego is arranged with an entry reception and gallery, open work areas, and a glass-walled conference room. Exposed ductwork and concrete floors contribute to the interior finish. At the back, a bar and lounge connect to a covered patio beneath a wood pergola. The building dates to 1961 and has central air conditioning and heating, electric heat, and slab flooring. The parcel measures approximately 7,124 square feet, or 0.1635 acres, and is zoned commercial.
The property is on El Cajon Boulevard near Texas Street in North Park. Full-height storefront glazing spans the building’s street-facing side, with dedicated bus lanes along the frontage. Restaurants, coffee shops and retail businesses are nearby. The existing layout supports creative office or professional use, while the street-facing storefront can accommodate showroom or retail use.
The property is on El Cajon Boulevard near Texas Street in North Park. Full-height storefront glazing spans the building’s street-facing side, with dedicated bus lanes along the frontage. Restaurants, coffee shops and retail businesses are nearby. The existing layout supports creative office or professional use, while the street-facing storefront can accommodate showroom or retail use.
Key Highlights
- 5,000‑square‑foot building on a 7,124‑square‑foot parcel (0.1635 acres)
- Covered patio beneath a wood pergola connects to the rear lounge
- Full‑height storefront glazing faces El Cajon Boulevard
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
$96,525
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
3.86%
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%
$1,930,500
$1.9M
Cap Rate 7%
$1,378,929
$1.4M
Cap Rate 9%
$1,072,500
$1.1M
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
$150.0K $30.00/SF
− Vacancy
−$21.3K −$4.26/SF
EGI
$128.7K $25.74/SF
− OpEx
−$32.2K −$6.44/SF
NOI
$96.5K $19.31/SF
Area
San Diego, CA
Vacancy
14.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,930,500
Cap Rate 7%
$1,378,929
Cap Rate 9%
$1,072,500
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,525 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - An adaptable interior includes gallery, collaborative work areas, a glass-enclosed conference room and lounge space.
Where is this creative space 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 building on a 7,124‑square‑foot parcel (0.1635 acres); Covered patio beneath a wood pergola connects to the rear lounge; Full‑height storefront glazing faces El Cajon Boulevard
