Three-Story Multi-Tenant Office
For Sale
Contact for pricing
4041 Bonita Road, Bonita, CA 91902
Assemblage includes fully leased office space, rooftop telecom facilities, and a separate drive-through coffee building.
Property Size21,960 SF
Lot Size0.73 Acres
Price / SF$457.26
Days on Market126
Property Features for 4041 Bonita Road
General Information
Standard status
Active
Size
21,960 SF
Total Parking Spaces
59
Elevators
Yes
Lot size
0.73 Acres
Property subtype
Retail, Office, Special Purpose
Zoning
C (Commercial)
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$642,854
Site & Location
Drive-Thru
Yes
Traffic Count
31,083 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
6.01%
Office Units
31
Amenities
golf course views
Building Details
Year Built
1975
Year Renovated
2024
Buildings
2
Stories
3
Tenancy
Multi
Building Size
21,960 SF
Listing Agency:
Pacific Coast Commercial
Listed By:
Vince Provenzano · License #CA 00780812
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 8:59AM
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 Pacific Coast Commercial
Investment Insights
Based on property information with market context.
The property comprises two parcels offered together in Bonita. The primary improvement is a three-story office building at 4045 Bonita Road containing approximately 21,960 square feet on a 31,798-square-foot lot. Built in 1975, it is fully leased to 31 tenants and includes elevator access and 59 parking spaces. Three rooftop cell tower tenants operate under gross leases with automatic renewals.
A separate 1,440-square-foot drive-through coffee building occupies an 8,208-square-foot lot and was constructed in 2024. It operates under an NNN ground lease. The property is zoned C (Commercial) and has frontage along Bonita Road, which carries 31,083 vehicles per day. Access to I-805 and Highway 54 is nearby, with views toward Chula Vista Golf Course.
A separate 1,440-square-foot drive-through coffee building occupies an 8,208-square-foot lot and was constructed in 2024. It operates under an NNN ground lease. The property is zoned C (Commercial) and has frontage along Bonita Road, which carries 31,083 vehicles per day. Access to I-805 and Highway 54 is nearby, with views toward Chula Vista Golf Course.
Key Highlights
- Approximately 21,960 SF office building on a 31,798 SF lot
- 100% leased to 31 office tenants with elevator access
- 59 parking spaces and three rooftop cell tower tenants
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
$611,508
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
5.72%
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%
$12,230,160
$12.2M
Cap Rate 7%
$8,735,829
$8.7M
Cap Rate 9%
$6,794,533
$6.8M
Market Conditions
NOI Build-Up for 23,400 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
$850.8K $36.36/SF
− Vacancy
−$35.5K −$1.52/SF
EGI
$815.3K $34.84/SF
− OpEx
−$203.8K −$8.71/SF
NOI
$611.5K $26.13/SF
Area
San Diego County, CA
Vacancy
4.17%
Lease Rate
$36.36 /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%
$12,230,160
Cap Rate 7%
$8,735,829
Cap Rate 9%
$6,794,533
Alternative Uses
Best Use
Specialty Retail
$8.74M
$7.64M – $10.19M
NOI $611,508 @ 7.0% cap · market cap 5.72%
Second Best
Office B
$7.74M
$6.77M – $9.02M
NOI $541,453 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$10.72M
$9.38M – $12.51M
NOI $750,477 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31
Office units
31,083 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 91902, CA
17,902
Population
6,277
Households
2.9
Avg Household Size
44
Median Age
42%
College-Educated
92%
High-School Grad
11.2 sq mi
ZIP Area
1,598
Density / Sq Mi
$121,727
Median Household Income
$54,029
Median Earnings
$2,252
Median Rent
$916,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Assemblage includes fully leased office space, rooftop telecom facilities, and a separate drive-through coffee building.
Where is this office building located?
The property is located at 4041 Bonita Road Bonita, CA.
What is the asking price?
The asking price for this property is $10,700,000.
What are key features of this property?
This property features: Approximately 21,960 SF office building on a 31,798 SF lot; 100% leased to 31 office tenants with elevator access; 59 parking spaces and three rooftop cell tower tenants
