Medical Office
New
For Sale
Contact for pricing
4403 Manchester Avenue, Encinitas, CA 92024
Condominium space identified for medical and professional office use.
Property Size960 SF
Price / SF$660
Days on Market6
Property Features for 4403 Manchester Avenue
General Information
Standard status
Active
Size
960 SF
Property subtype
Office
Listing Agency:
Urban Property Group, Inc.
Listed By:
Bill Shrader · License #CA 01033317
(858) 874-1989
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 14 at 8:43AM
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 Urban Property Group, Inc.
Investment Insights
Based on property information with market context.
This medical office condominium offers approximately 960 SF within Encinitas Professional Center. The property is identified for medical and office use and is located at 4403 Manchester Avenue in Encinitas, California 92024.
Key Highlights
- ±960 SF medical/office condominium
- Located at 4403 Manchester Avenue, Encinitas, CA 92024
- Part of Encinitas Professional Center
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
$22,213
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
3.51%
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%
$444,260
$444.3K
Cap Rate 7%
$317,329
$317.3K
Cap Rate 9%
$246,811
$246.8K
Market Conditions
NOI Build-Up for 960 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
$34.6K $36.00/SF
− Vacancy
−$4.9K −$5.15/SF
EGI
$29.6K $30.85/SF
− OpEx
−$7.4K −$7.71/SF
NOI
$22.2K $23.14/SF
Area
San Diego County, CA
Vacancy
14.30%
Lease Rate
$36.00 /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%
$444,260
Cap Rate 7%
$317,329
Cap Rate 9%
$246,811
Alternative Uses
Best Use
Office B
$317.3K
$277.7K – $370.2K
NOI $22,213 @ 7.0% cap · market cap 3.51%
Second Best
Healthcare Medical
$258.8K
$226.4K – $301.9K
NOI $18,115 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$439.8K
$384.9K – $513.2K
NOI $30,789 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92024, CA
51,190
Population
21,566
Households
2.4
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
18.0 sq mi
ZIP Area
2,844
Density / Sq Mi
$149,080
Median Household Income
$70,949
Median Earnings
$2,643
Median Rent
$1,409,700
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 West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Condominium space identified for medical and professional office use.
Where is this medical office space located?
The property is located at 4403 Manchester Avenue Encinitas, CA.
What is the asking price?
The asking price for this property is $633,600.
What are key features of this property?
This property features: ±960 SF medical/office condominium; Located at 4403 Manchester Avenue, Encinitas, CA 92024; Part of Encinitas Professional Center
