Four-Building Auto Shop
New
For Sale
Contact for pricing
453 Main Street, Ramona, CA 92065
RMV5 zoning pairs an operating automotive use with multifamily development potential.
Property Size8,744 SF
Price / SF$197.85
Days on Market6
Property Features for 453 Main Street
General Information
Standard status
Active
Size
8,744 SF
Property subtype
Industrial, Land
Zoning
Ramona Village Center- Center District (RMV5)
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Road Access
Yes
Land Use
automotive repair, multifamily
Building Details
Year Built
1955
Buildings
4
Tenancy
Single
Listing Agency:
Colliers - Los Angeles - La Jolla, California
(858) 677-5335
Listed By:
David Harper · License #CA 00880644
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 18 at 4:35AM
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 Colliers - Los Angeles - La Jolla, California
Investment Insights
Based on property information with market context.
This Ramona property includes four automotive repair buildings totaling approximately 8,744 square feet across nearly three-quarters of an acre. Built in 1955, the improvements are currently occupied by a diesel service operator with nine years of operating history at the site. The multi-building arrangement establishes a functioning automotive service setting with substantial existing improvements.
Positioned at 453 Main Street, the property has Main Street frontage and carries Ramona Village Center- Center District (RMV5) zoning. The zoning is identified with multifamily development potential, adding a future land-use dimension to the existing automotive operation. The property therefore combines an occupied repair use, established site history, and redevelopment flexibility within one commercial asset.
Positioned at 453 Main Street, the property has Main Street frontage and carries Ramona Village Center- Center District (RMV5) zoning. The zoning is identified with multifamily development potential, adding a future land-use dimension to the existing automotive operation. The property therefore combines an occupied repair use, established site history, and redevelopment flexibility within one commercial asset.
Key Highlights
- Four automotive repair buildings totaling approximately 8,744 square feet
- Nearly three‑quarters of an acre
- Currently occupied by a diesel service operator
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
$137,351
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
7.94%
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%
$2,747,020
$2.7M
Cap Rate 7%
$1,962,157
$2.0M
Cap Rate 9%
$1,526,122
$1.5M
Market Conditions
NOI Build-Up for 8,744 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
$209.9K $24.00/SF
− Vacancy
−$13.6K −$1.56/SF
EGI
$196.2K $22.44/SF
− OpEx
−$58.9K −$6.73/SF
NOI
$137.4K $15.71/SF
Area
San Diego County, CA
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,747,020
Cap Rate 7%
$1,962,157
Cap Rate 9%
$1,526,122
Alternative Uses
Best Use
Retail
$1.96M
$1.72M – $2.29M
NOI $137,351 @ 7.0% cap · market cap 7.94%
Second Best
Industrial
$1.43M
$1.25M – $1.67M
NOI $100,038 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$4.01M
$3.51M – $4.67M
NOI $280,435 @ 7.0% cap · market cap 16.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
18k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 35%
Home Improvements & Furnishings 18%
Circle K
Shops & Services
7,422 visits/mo
0.2 miles
Kountry Kitchen
Dining
3,807 visits/mo
0.4 miles
Ransom Brothers
Home Improvements & Furnishings
3,305 visits/mo
0.1 miles
SUBWAY
Dining
2,456 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
1,111 visits/mo
0.3 miles
Demographics for 92065, CA
37,047
Population
12,774
Households
2.9
Avg Household Size
41
Median Age
29%
College-Educated
87%
High-School Grad
169.3 sq mi
ZIP Area
219
Density / Sq Mi
$120,550
Median Household Income
$52,015
Median Earnings
$1,889
Median Rent
$731,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Auto shop - RMV5 zoning pairs an operating automotive use with multifamily development potential.
Where is this auto shop located?
The property is located at 453 Main Street Ramona, CA.
What is the asking price?
The asking price for this property is $1,730,000.
What are key features of this property?
This property features: Four automotive repair buildings totaling approximately 8,744 square feet; Nearly three‑quarters of an acre; Currently occupied by a diesel service operator
