Kearny Mesa Multi-Tenant Office
4565 Ruffner St San Diego, CA 92111
4565 Ruffner St, San Diego, CA, 92111
$4,750,000
For Sale
$4,750,000
Two-story office building near Convoy Street, fully occupied by 27 tenants.
Property Size15,974 SF
Price / SF$297.36
Days on Market47
Property Features for 4565 Ruffner St
General Information
- Standard status
- Active
- Size
- 15,974 SF
- Property subtype
- Office
Building Details
- Year Built
- 1981
Listing Agency
Marcus & Millichap | San Diego
(858) 373-3140
Listed by
Peter Eltaeb · License #License(s): CA: 02143936
(858) 373-3140
Source
Marcusmillichap
Added: Jun 1 Checked: Jul 17 at 2:17 am
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 Marcus & Millichap | San Diego
Investment Insights
Based on property information with market context.
The two-story, multi-tenant office building at 4565 Ruffner Street is situated adjacent to Convoy Street, with immediate access to Interstate 805. The building has a total area of 15,974 square feet and is currently 100% occupied by 27 tenants. The property generates $237,116 in annual net operating income. The building has maintained over 90% occupancy for over 10 years, and all tenants are on short-term leases.
Key Highlights
- Prime Kearny Mesa location adjacent to Convoy Street with immediate access to Interstate 805
- Stable in‑place income of $237,116 annual NOI at a 5.00% CAP rate
- Significant rental upside with in‑place rents at $23.62/SF compared to submarket comps at $29.55/SF
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $479.2k | $30.00 |
| − Vacancy | −$68.0k | −$4.26 |
| EGI | $411.2k | $25.74 |
| − OpEx | −$102.8k | −$6.44 |
| NOI | $308.4k | $19.31 |
15,974 SF · lease $30.00/SF/yr · vacancy 14.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.41M
$3.85M – $5.14M
NOI $308,378 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.31M
$5.52M – $7.36M
NOI $441,649 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lori Sherer, MA, ...
Marriage Or Relationship Counselor
El Cajon Driving ...
Training Center
Graphic Interfaces
Marketing & Advertising
Mrs. Amanda Walker
Marriage Or Relationship Counselor
Dr. Genelle Weits
Physician
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FAQs
What type of property is this?
Office building - Two-story office building near Convoy Street, fully occupied by 27 tenants.
Where is this office building located?
The property is located at 4565 Ruffner St San Diego, CA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Prime Kearny Mesa location adjacent to Convoy Street with immediate access to Interstate 805; Stable in‑place income of $237,116 annual NOI at a 5.00% CAP rate; Significant rental upside with in‑place rents at $23.62/SF compared to submarket comps at $29.55/SF
