Freestanding Flex Space with Lab
For Sale
$23,500,000
4650 Overland Ave, San Diego, CA 92123
Highly improved flex facility with laboratories, clean rooms, offices, warehouse areas, and employee support amenities.
Property Size56,159 SF
Price / SF$418.45
Days on Market54
Property Features for 4650 Overland Ave
General Information
Standard status
Active
Size
56,159 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Building Size
56,159 SF
Listing Agency:
San Diego
Listed By:
Bob Mooney · License #00836061
(858) 677-5356
Source:
Colliers
Added: Aug 23
Changed: Oct 6
Last Checked: Oct 14 at 7:41PM
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 San Diego
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Investment Insights
Based on property information with market context.
This 56,159-square-foot freestanding flex facility combines specialized work areas with adaptable office and warehouse components. The interior includes laboratories, clean rooms, conference rooms, private offices, open bullpen areas, a kitchen, lunchroom, lounge, patios, and skylights. Warehouse improvements include multiple dock loading doors, substantial clear height, locker rooms, and showers, supporting a range of operational layouts.
The property is located at 4650 Overland Avenue within the Spectrum Center in Kearny Mesa, San Diego. Interstates 15, 8, and 805 are nearby, along with the 163 and 52 freeways. These routes connect to San Diego within a five-minute drive and reach the Inland Empire and Los Angeles in under two hours. San Diego International Airport is 9.2 miles away, while the surrounding area offers walkable access to a broad range of amenities.
The property is located at 4650 Overland Avenue within the Spectrum Center in Kearny Mesa, San Diego. Interstates 15, 8, and 805 are nearby, along with the 163 and 52 freeways. These routes connect to San Diego within a five-minute drive and reach the Inland Empire and Los Angeles in under two hours. San Diego International Airport is 9.2 miles away, while the surrounding area offers walkable access to a broad range of amenities.
Key Highlights
- 56,159‑square‑foot freestanding flex building at 4650 Overland Avenue
- Laboratories, clean rooms, conference rooms, offices, bullpen areas, and employee lounge spaces
- Warehouse areas with multiple dock loading doors and substantial clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$814,755
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,295,100
$16.3M
Cap Rate 7%
$11,639,357
$11.6M
Cap Rate 9%
$9,052,833
$9.1M
Market Conditions
NOI Build-Up for 56,159 SF
Gross rent
$1.35M $24.00/SF
− Vacancy
−$94.3K −$1.68/SF
EGI
$1.25M $22.32/SF
− OpEx
−$438.7K −$7.81/SF
NOI
$814.8K $14.51/SF
Area
San Diego, CA
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,295,100
Cap Rate 7%
$11,639,357
Cap Rate 9%
$9,052,833
Alternative Uses
Best Use
Flex RnD
$11.64M
$10.18M – $13.58M
NOI $814,755 @ 7.0% cap · market cap 3.47%
Second Best
Warehouse
$11.52M
$10.08M – $13.44M
NOI $806,476 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$22.18M
$19.41M – $25.88M
NOI $1,552,684 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,943
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in San Diego, CA
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Frequently Asked Questions
What type of property is this?
Flex space - Highly improved flex facility with laboratories, clean rooms, offices, warehouse areas, and employee support amenities.
Where is this flex space located?
The property is located at 4650 Overland Ave San Diego, CA.
What is the asking price?
The asking price for this property is $23,500,000.
What are key features of this property?
This property features: 56,159‑square‑foot freestanding flex building at 4650 Overland Avenue; Laboratories, clean rooms, conference rooms, offices, bullpen areas, and employee lounge spaces; Warehouse areas with multiple dock loading doors and substantial clear height
