Auto Repair Shop with
New
For Sale
$1,492,000
301 16th St, San Diego, CA 92101
The existing automotive service setup includes repair equipment, three-phase power, and on-site parking.
Property Size1,926 SF
Lot Size0.10 Acres
Price / SF$774.66
Days on Market3
Property Features for 301 16th St
General Information
Standard status
Active
Size
1,926 SF
Lot size
0.10 Acres
Property subtype
Commercial
Zoning
CCPD-RE
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1953
Buildings
1
Units
1
Listing Agency:
Wiese & Associates
Listed By:
Jared Wiese · License #02161629
(619) 300-2656
Source:
Elliman
Added: Sep 29
Last Checked: Oct 1 at 11:08AM
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 Wiese & Associates
Investment Insights
Based on property information with market context.
This auto shop contains ±1,926 SF of building area on a roughly 4,300 SF lot. The existing use is auto repair, with two lifts, a large compressor, and a smog dyno on site. Electrical service is 3-phase, 200 amps, and 240 volts. Parking is available on the property, with additional street parking nearby. The zoning is CCPD-RE, Centre City Planned District Residential Emphasis.
The corner property is at 16th and K in East Village, within Downtown San Diego. Nearby destinations include Gaslamp and Petco Park, with the 12th & Imperial / Park & Market trolley area also in the surrounding context. The property was built in 1953.
The corner property is at 16th and K in East Village, within Downtown San Diego. Nearby destinations include Gaslamp and Petco Park, with the 12th & Imperial / Park & Market trolley area also in the surrounding context. The property was built in 1953.
Key Highlights
- ±1,926 SF building on a roughly 4,300 SF lot
- Existing auto repair use with two lifts, a large compressor, and a smog dyno
- 3‑phase power, 200 amps, 240 volts
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
$46,492
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
3.12%
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%
$929,840
$929.8K
Cap Rate 7%
$664,171
$664.2K
Cap Rate 9%
$516,578
$516.6K
Market Conditions
NOI Build-Up for 1,926 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
$69.3K $36.00/SF
− Vacancy
−$2.9K −$1.52/SF
EGI
$66.4K $34.48/SF
− OpEx
−$19.9K −$10.35/SF
NOI
$46.5K $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%
$929,840
Cap Rate 7%
$664,171
Cap Rate 9%
$516,578
Alternative Uses
Best Use
Retail
$664.2K
$581.2K – $774.9K
NOI $46,492 @ 7.0% cap · market cap 3.12%
Second Best
Industrial
$325.4K
$284.7K – $379.6K
NOI $22,778 @ 7.0% cap · market cap 1.53%
Theoretical Best
Specialty Retail
$760.7K
$665.6K – $887.5K
NOI $53,250 @ 7.0% cap · market cap 3.57%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,152
Businesses Nearby
135k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Dining 27%
Shops & Services 21%
Hotels & Casinos 10%
Jack in the Box
Dining
22,745 visits/mo
0.5 miles
Smart & Final
Groceries
18,290 visits/mo
0.3 miles
Grocery Outlet Bargain Market
Groceries
16,315 visits/mo
0.4 miles
Albertsons
Groceries
14,298 visits/mo
0.3 miles
Hotel Indigo San Diego-Gaslamp Quarter
Hotels & Casinos
14,039 visits/mo
0.4 miles
Demographics for 92101, CA
47,505
Population
32,909
Households
1.4
Avg Household Size
39
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
8,797
Density / Sq Mi
$90,477
Median Household Income
$72,371
Median Earnings
$2,351
Median Rent
$740,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - The existing automotive service setup includes repair equipment, three-phase power, and on-site parking.
Where is this auto shop located?
The property is located at 301 16th St San Diego, CA.
What is the asking price?
The asking price for this property is $1,492,000.
What are key features of this property?
This property features: ±1,926 SF building on a roughly 4,300 SF lot; Existing auto repair use with two lifts, a large compressor, and a smog dyno; 3‑phase power, 200 amps, 240 volts
