Kearny Mesa Office
For Sale
Contact for pricing
4540 & 4550 Kearny Villa Rd, San Diego, CA 92123
Office condominium for sale in Kearny Mesa submarket.
Property Size768 SF
Lot Size2.03 Acres
Price / SF$442.71
Days on Market1907
Property Features for 4540 & 4550 Kearny Villa Rd
General Information
Standard status
Active
Size
768 SF
Lot size
2.03 Acres
Property subtype
Office
Zoning
IL-2-1
Investment Type
Owner/User
Building Details
Year Built
1981
Buildings
2
Stories
2
Listing Agency:
Voit Real Estate Services San Diego
Listed By:
Garrett Fena · License #01919122
Source:
Crexi
Added: Jun 14, 2021
Changed: Aug 8
Last Checked: Aug 30 at 9:34PM
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 is an opportunity to purchase an individual office condominium in the Kearny Mesa submarket. The Landmark Centre, located at 4540 & 4550 Kearny Villa Road, consists of two buildings totaling approximately 64,000 square feet and is situated on approximately 2.03 acres.
Key Highlights
- Owner/user opportunity: ideal for businesses seeking to own their office space.
- Individual office condominium: provides ownership and control over the specific unit.
- Desirable Kearny Mesa submarket: located in a highly sought‑after business area.
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
$14,826
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
4.36%
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%
$296,520
$296.5K
Cap Rate 7%
$211,800
$211.8K
Cap Rate 9%
$164,733
$164.7K
Market Conditions
NOI Build-Up for 768 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
$23.0K $30.00/SF
− Vacancy
−$3.3K −$4.26/SF
EGI
$19.8K $25.74/SF
− OpEx
−$4.9K −$6.44/SF
NOI
$14.8K $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%
$296,520
Cap Rate 7%
$211,800
Cap Rate 9%
$164,733
Alternative Uses
Best Use
Office B
$211.8K
$185.3K – $247.1K
NOI $14,826 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$303.3K
$265.4K – $353.9K
NOI $21,234 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 92123, CA
30,937
Population
13,108
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
3,597
Density / Sq Mi
$121,856
Median Household Income
$55,111
Median Earnings
$2,798
Median Rent
$799,600
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condominium for sale in Kearny Mesa submarket.
Where is this office units located?
The property is located at 4540 & 4550 Kearny Villa Rd San Diego, CA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Owner/user opportunity: ideal for businesses seeking to own their office space.; Individual office condominium: provides ownership and control over the specific unit.; Desirable Kearny Mesa submarket: located in a highly sought‑after business area.
