Office Building with Short-Term
For Sale
Contact for pricing
3565 Del Rey St, San Diego, CA 92109
Office building with short-term leases in place and dual zoning (CC-4-2 and RM-4-10) for flexible use planning.
Property Size18,200 SF
Lot Size0.57 Acres
Price / SF$288.18
Days on Market711
Property Features for 3565 Del Rey St
General Information
Standard status
Active
Size
18,200 SF
Lot size
0.57 Acres
Property subtype
OFFICE
Zoning
CC-4-2 & RM-4-10
Additional Details
Highway Access
Yes
Building Details
Building Size
18,200 SF
Parking Ratio
3 per 1,000 SF
Listing Agency:
JLL | San Diego
(858) 410-1200
Listed By:
Richard Gonor · License #1142178
(858) 410-1243
Source:
Moodyscre
Added: Nov 7, 2024
Changed: Oct 2
Last Checked: Oct 16 at 10:24AM
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 JLL | San Diego
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building is available to occupy with short-term leases in place, providing income while allowing for potential expansion. The property includes a 0.57-acre lot and an 18,200 SF building, with parking identified at a 3/1,000 parking ratio. Assessor’s parcel numbers for the property are Parcel 1:424-323-37-02 and Parcel 2: 424-323-37-03.
The site is located along Interstate 5, with 164,000 car trips per day, and it is minutes to Interstate 8 and Hwy 52. The Balboa Avenue Trolley Station is noted as soon to be completed.
Zoning is listed as CC-4-2 (Commercial) and RM-4-10 (Multi-family), which may support a range of business and redevelopment considerations depending on use approvals.
The site is located along Interstate 5, with 164,000 car trips per day, and it is minutes to Interstate 8 and Hwy 52. The Balboa Avenue Trolley Station is noted as soon to be completed.
Zoning is listed as CC-4-2 (Commercial) and RM-4-10 (Multi-family), which may support a range of business and redevelopment considerations depending on use approvals.
Key Highlights
- 0.57‑acre lot size
- 18,200 SF office building
- 3/1,000 parking ratio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$351,698
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,033,960
$7.0M
Cap Rate 7%
$5,024,257
$5.0M
Cap Rate 9%
$3,907,756
$3.9M
Market Conditions
NOI Build-Up for 18,218 SF
Gross rent
$546.5K $30.00/SF
− Vacancy
−$77.6K −$4.26/SF
EGI
$468.9K $25.74/SF
− OpEx
−$117.2K −$6.44/SF
NOI
$351.7K $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 Rate 5%
$7,033,960
Cap Rate 7%
$5,024,257
Cap Rate 9%
$3,907,756
Alternative Uses
Best Use
Office B
$5.02M
$4.40M – $5.86M
NOI $351,698 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.20M
$6.30M – $8.39M
NOI $503,691 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 92109, CA
44,671
Population
26,503
Households
1.7
Avg Household Size
35
Median Age
70%
College-Educated
97%
High-School Grad
7.6 sq mi
ZIP Area
5,878
Density / Sq Mi
$118,300
Median Household Income
$71,054
Median Earnings
$2,362
Median Rent
$1,136,000
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
Frequently Asked Questions
What type of property is this?
Office building - Office building with short-term leases in place and dual zoning (CC-4-2 and RM-4-10) for flexible use planning.
Where is this office building located?
The property is located at 3565 Del Rey St San Diego, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 0.57‑acre lot size; 18,200 SF office building; 3/1,000 parking ratio
