Office Space in Quiet
For Sale
Contact for pricing
4455 Morena Boulevard, San Diego, CA 92110
Approximately 1,156-square-foot office space in a quiet, well-maintained building within San Diego’s Morena submarket.
Property Size1,156 SF
Price / SF$389.27
Days on Market105
Property Features for 4455 Morena Boulevard
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Office
Listing Agency:
Voit Real Estate Services San Diego
Listed By:
Garrett Fena · License #01919122
Source:
Crexi
Added: May 27
Changed: Aug 14
Last Checked: Sep 8 at 7:06AM
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 Voit Real Estate Services San Diego
Investment Insights
Based on property information with market context.
This offering features an approximately 1,156-square-foot office space located within a quiet and well-maintained office building. The suite provides a dedicated footprint for professional use, ideal for tenants seeking a straightforward office configuration in a maintained property.
The property is located at 4455 Morena Boulevard in the Morena submarket of San Diego, CA. The building’s environment is described as calm and maintained, which can support day-to-day business operations for office users.
For prospective tenants, the combination of an on-site office setting and a practical, defined suite size can fit a range of professional needs. Brokers and occupants may also find the Morena submarket location useful when considering office space availability within San Diego. Interested parties should confirm current lease terms and suite details with the listing broker, as these are not provided in the available information.
The property is located at 4455 Morena Boulevard in the Morena submarket of San Diego, CA. The building’s environment is described as calm and maintained, which can support day-to-day business operations for office users.
For prospective tenants, the combination of an on-site office setting and a practical, defined suite size can fit a range of professional needs. Brokers and occupants may also find the Morena submarket location useful when considering office space availability within San Diego. Interested parties should confirm current lease terms and suite details with the listing broker, as these are not provided in the available information.
Key Highlights
- Approximately 1,156 sq ft office space for lease
- Located in San Diego’s Morena submarket
- Office space is in a quiet, well‑maintained office building
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
$22,317
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
4.96%
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%
$446,340
$446.3K
Cap Rate 7%
$318,814
$318.8K
Cap Rate 9%
$247,967
$248.0K
Market Conditions
NOI Build-Up for 1,156 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
$34.7K $30.00/SF
− Vacancy
−$4.9K −$4.26/SF
EGI
$29.8K $25.74/SF
− OpEx
−$7.4K −$6.44/SF
NOI
$22.3K $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 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%
$446,340
Cap Rate 7%
$318,814
Cap Rate 9%
$247,967
Alternative Uses
Best Use
Office B
$318.8K
$279.0K – $372.0K
NOI $22,317 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$456.6K
$399.5K – $532.7K
NOI $31,961 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 92110, CA
31,048
Population
13,227
Households
2.3
Avg Household Size
34
Median Age
54%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
6,210
Density / Sq Mi
$102,508
Median Household Income
$52,150
Median Earnings
$2,298
Median Rent
$885,200
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Approximately 1,156-square-foot office space in a quiet, well-maintained building within San Diego’s Morena submarket.
Where is this office units located?
The property is located at 4455 Morena Boulevard San Diego, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approximately 1,156 sq ft office space for lease; Located in San Diego’s Morena submarket; Office space is in a quiet, well‑maintained office building
