Turnkey Creative Office
For Sale
Contact for pricing
5186 Carroll Canyon Rd, San Diego, CA 92121
Fully renovated single-tenant office building with open collaboration areas, private offices, and abundant natural light.
Property Size10,000 SF
Price / SF$625
Days on Market132
Property Features for 5186 Carroll Canyon Rd
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
38
Property subtype
Office
Zoning
IL-2-1
Investment Type
Owner/User
Additional Details
Furnished
Yes
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Colliers - Los Angeles - La Jolla, California
Listed By:
David Kuchinsky · License #CA 01314705
(858) 455-1515
Source:
Crexi
Added: Apr 28
Changed: Aug 14
Last Checked: Sep 5 at 1:04PM
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.
5186 Carroll Canyon is a fully renovated, single-tenant office building designed for a plug-and-play owner-user setup. The creative interior includes open collaboration areas and private offices, with abundant natural light throughout. Furniture is available, supporting a move-in ready experience.
The property is positioned on a prominent corner location with ample parking and immediate freeway access. Nearby amenities contribute to day-to-day convenience in a highly sought-after innovation corridor.
As a fully renovated creative office with an emphasis on flexible collaboration and private workspaces, the space is well-suited for businesses looking for an immediately operational environment.
The property is positioned on a prominent corner location with ample parking and immediate freeway access. Nearby amenities contribute to day-to-day convenience in a highly sought-after innovation corridor.
As a fully renovated creative office with an emphasis on flexible collaboration and private workspaces, the space is well-suited for businesses looking for an immediately operational environment.
Key Highlights
- Fully renovated, single‑tenant office building with open collaboration areas and private offices
- Creative interior includes move‑in available furniture
- Abundant natural light throughout the office space
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
$193,050
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
3.09%
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%
$3,861,000
$3.9M
Cap Rate 7%
$2,757,857
$2.8M
Cap Rate 9%
$2,145,000
$2.1M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$42.6K −$4.26/SF
EGI
$257.4K $25.74/SF
− OpEx
−$64.4K −$6.44/SF
NOI
$193.1K $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%
$3,861,000
Cap Rate 7%
$2,757,857
Cap Rate 9%
$2,145,000
Alternative Uses
Best Use
Office B
$2.76M
$2.41M – $3.22M
NOI $193,050 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,480 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 92121, CA
4,658
Population
1,774
Households
2.6
Avg Household Size
32
Median Age
75%
College-Educated
99%
High-School Grad
12.5 sq mi
ZIP Area
373
Density / Sq Mi
$135,795
Median Household Income
$70,431
Median Earnings
$2,537
Median Rent
$1,091,600
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 building - Fully renovated single-tenant office building with open collaboration areas, private offices, and abundant natural light.
Where is this office building located?
The property is located at 5186 Carroll Canyon Rd San Diego, CA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: Fully renovated, single‑tenant office building with open collaboration areas and private offices; Creative interior includes move‑in available furniture; Abundant natural light throughout the office space
