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: Oct 4 Last Checked: Oct 16 at 7:20AM

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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.

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 / Yr

$611,508

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$12,230,160 $12.2M

Cap Rate 7%

$8,735,829 $8.7M

Cap Rate 9%

$6,794,533 $6.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 23,400 SF

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 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 (±1% cap)

NOI $611,508 @ 7.0% cap · market cap 6.12%

Second Best

Office B

$7.74M

$6.77M – $9.02M (±1% cap)

NOI $541,453 @ 7.0% cap · market cap 5.42%

Theoretical Best

Office A

$10.72M

$9.38M – $12.51M (±1% cap)

NOI $750,477 @ 7.0% cap · market cap 7.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

State Farm Insurance Insurance Agency Better Buzz Coffee ... Cafe & Coffee Shop Mr Chimney Cleaning General Contractor Judy Parkers Pacific ... Tattoo & Piercing Shop McCaslin Gate Repair Building Supply

Suggested Use

Top Pick Parking Lot & Garage Electrical Service Plumbing Service HVAC Service (Bike/Boat/Book/etc) Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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 $9,990,000.

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