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    Light Industrial Catering and Flex Facility Title is generated by Realmo AI

    3648 Olive, Lemon Grove, CA 91945

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    For Sale
    $750,000

    Well-equipped light industrial property with office support, high-clearance warehouse space, and roll-up dock loading.

    Type:Industrial
    Property size:
    4,202 SF
    Price / SF:
    $178/SF
    Added:
    Jun 3, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 3648 Olive

    General Information

    Standard status
    Active
    Size
    4,202 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    Grace Carter

    Listing agent Grace Carter

    Listing office

    Listing date Jun 3, 2026

    Source Elliman

    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 Grace Carter

    HighLights

    • Light industrial building built in 1993 with approximately 4,202 SF of office and warehouse space (3,866 SF permitted, buyer to verify).
    • Downstairs warehouse features 18‑foot clear height ceilings, skylights and windows for natural light, and two large roll‑up dock doors.
    • Power wired for 220 amps, with 2,768 SF downstairs area designed for efficient loading/unloading and light industrial use.
    • Two mezzanine areas totaling approximately 1,434 SF: west mezzanine permitted (~636 SF) and east mezzanine includes finished space (~798 SF, ~336 SF unpermitted).
    • Upstairs office includes carpeted flooring, air conditioning, dedicated work areas, and a private restroom (buyer to verify square footage/permits).
    • Seven front parking spaces plus a large chain‑link fenced front yard for secured parking, storage, equipment, or fleet vehicles.

    Overview

    This versatile light industrial property is currently operating as a commercial catering facility and includes a mix of warehouse space and office. The downstairs area offers approximately 18-foot clear height ceilings, abundant natural light from skylights and windows, and two large roll-up dock doors for loading and unloading. Power is wired for 220 amps, supporting light industrial and production needs. Additional workspace is provided through two mezzanine areas totaling approximately 1,434 square feet, including a permitted west mezzanine and an east mezzanine that includes finished space and a portion noted as unpermitted.

    The upstairs office areas are supported by carpeted flooring, air conditioning, dedicated work areas, and a private restroom. For customer and employee access, the property includes seven front parking spaces plus a large chain-link fenced front yard area that can support secured parking, storage, equipment, or fleet vehicles.

    Designed for owner-users and operating companies, the combination of high-clearance warehouse, dock loading, supplemental mezzanine workspace, and functional administration space fits a range of light industrial uses such as catering, brewery, light manufacturing, warehouse, distribution, or other light industrial business operations. Buyer should verify all square footage, zoning, permits, and suitability for intended business operations.
    Location Intelligence

    Current Use by Public Records

    Gage Construction Co Construction Company

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Belinda's Familia Mexican Food Truck — 7939 Broadway, Lemon Grove, CA 91945

    Location Insight

    • Map
    • Local Demand
    City
    Lemon Grove
    County
    San Diego
    State
    California
    Longitude
    -117.0325303
    Latitude
    32.7453746

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    FAQs

    What type of property is this?
    Flex space - Well-equipped light industrial property with office support, high-clearance warehouse space, and roll-up dock loading.
    Where is this flex space located?
    The property is located at 3648 Olive Lemon Grove, CA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Light industrial building built in 1993 with approximately 4,202 SF of office and warehouse space (3,866 SF permitted, buyer to verify).; Downstairs warehouse features 18‑foot clear height ceilings, skylights and windows for natural light, and two large roll‑up dock doors.; Power wired for 220 amps, with 2,768 SF downstairs area designed for efficient loading/unloading and light industrial use.
    (760) 846-0729
    We can help!
    Listing Contact
    Grace Carter
    Learn More
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    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.

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