Multi-Tenant Office
For Sale
Contact for pricing
533 Broadway, El Cajon, CA 92021
For-sale multi-tenant office property providing space for a range of professional uses.
Property Size11,554 SF
Price / SF$346.20
Days on Market64
Property Features for 533 Broadway
General Information
Standard status
Active
Size
11,554 SF
Property subtype
Office
Zoning
O-P
Investment Type
Stabilized
Net Operating Income
$146,216
Building Details
Year Built
1980
Units
11
Tenancy
Multi
Listing Agency:
Pacific Coast Commercial
(619) 666-4600
Listed By:
Jasmine Golia · License #02131001
Source:
Crexi
Added: Jun 11
Changed: Aug 10
Last Checked: Aug 12 at 10:44AM
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 Pacific Coast Commercial
Investment Insights
Based on property information with market context.
This multi-tenant office building is offered for sale and is set up to serve multiple occupants within a single property. The asset totals 11,554 square feet and is positioned as an office-focused option for businesses that prefer to operate from a dedicated commercial building rather than a standalone site.
The property is located at 533 Broadway in El Cajon, California (92021). As a multi-tenant office format, it can support tenants that share building services and common areas while maintaining separate occupancy arrangements within the overall structure.
For buyers, this configuration may appeal to investors and owner-operators seeking an office building designed for multiple tenants. For prospective tenants or users, the multi-tenant nature can offer a practical path to securing office space in a purpose-built commercial setting. Because this is specifically described as an office building, it aligns best with professional services and other office-based operations that require consistent indoor workplace space and an established commercial tenancy structure.
The property is located at 533 Broadway in El Cajon, California (92021). As a multi-tenant office format, it can support tenants that share building services and common areas while maintaining separate occupancy arrangements within the overall structure.
For buyers, this configuration may appeal to investors and owner-operators seeking an office building designed for multiple tenants. For prospective tenants or users, the multi-tenant nature can offer a practical path to securing office space in a purpose-built commercial setting. Because this is specifically described as an office building, it aligns best with professional services and other office-based operations that require consistent indoor workplace space and an established commercial tenancy structure.
Key Highlights
- Multi‑tenant office building for a range of professional uses
- Built in 1980
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
$170,275
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
4.26%
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%
$3,405,500
$3.4M
Cap Rate 7%
$2,432,500
$2.4M
Cap Rate 9%
$1,891,944
$1.9M
Market Conditions
NOI Build-Up for 11,554 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
$260.7K $22.56/SF
− Vacancy
−$33.6K −$2.91/SF
EGI
$227.0K $19.65/SF
− OpEx
−$56.8K −$4.91/SF
NOI
$170.3K $14.74/SF
Area
El Cajon, CA
Vacancy
12.90%
Lease Rate
$22.56 /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%
$3,405,500
Cap Rate 7%
$2,432,500
Cap Rate 9%
$1,891,944
Alternative Uses
Best Use
Office B
$2.43M
$2.13M – $2.84M
NOI $170,275 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,949 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 92021, CA
70,584
Population
23,360
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
28.0 sq mi
ZIP Area
2,521
Density / Sq Mi
$69,979
Median Household Income
$37,739
Median Earnings
$1,818
Median Rent
$572,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For-sale multi-tenant office property providing space for a range of professional uses.
Where is this office building located?
The property is located at 533 Broadway El Cajon, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Multi‑tenant office building for a range of professional uses; Built in 1980
