Urban Office Headquarters
For Sale
Contact for pricing
555 Raven St, San Diego, CA 92102
For sale as a 100% fee simple interest, the Montbleau & Associates headquarters occupies an urban infill office site.
Property Size36,643 SF
Price / SF$307.41
Days on Market166
Property Features for 555 Raven St
General Information
Standard status
Active
Size
36,643 SF
Total Parking Spaces
31
Property subtype
Industrial
Zoning
IL-2-1: Industrial Light Zone 2-1
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$704,036
Building Details
Year Built
1984
Year Renovated
2008
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Northmarq
Listed By:
Brian Ritchie · License #SL3208865
(404) 823-6360
Source:
Crexi
Added: Mar 25
Changed: Aug 26
Last Checked: Aug 28 at 9:14PM
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 Northmarq
Investment Insights
Based on property information with market context.
Northmarq, on behalf of ownership as its exclusive advisor, is pleased to offer the opportunity to acquire the 100% fee simple interest in the Montbleau & Associates Headquarters facility at 555 Raven Street in San Diego, California.
The property is positioned at the southeast corner of Market Street and Raven Street, just over three miles from downtown San Diego. This offering provides a single-asset acquisition of an established headquarters office facility in an urban infill setting.
The property is positioned at the southeast corner of Market Street and Raven Street, just over three miles from downtown San Diego. This offering provides a single-asset acquisition of an established headquarters office facility in an urban infill setting.
Key Highlights
- 1984‑built office headquarters facility at 555 Raven Street in San Diego, CA
- For sale as 100% fee simple interest in the Montbleau & Associates Headquarters
- Located at the southeast corner of Market Street and Raven Street, just over 3 miles from downtown San Diego
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
$531,617
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
4.72%
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%
$10,632,340
$10.6M
Cap Rate 7%
$7,594,529
$7.6M
Cap Rate 9%
$5,906,856
$5.9M
Market Conditions
NOI Build-Up for 36,643 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
$879.4K $24.00/SF
− Vacancy
−$61.6K −$1.68/SF
EGI
$817.9K $22.32/SF
− OpEx
−$286.3K −$7.81/SF
NOI
$531.6K $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 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%
$10,632,340
Cap Rate 7%
$7,594,529
Cap Rate 9%
$5,906,856
Alternative Uses
Best Use
Flex RnD
$7.59M
$6.65M – $8.86M
NOI $531,617 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$6.19M
$5.42M – $7.22M
NOI $433,353 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$14.47M
$12.66M – $16.89M
NOI $1,013,106 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92102, CA
39,783
Population
15,622
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
80%
High-School Grad
4.5 sq mi
ZIP Area
8,841
Density / Sq Mi
$71,319
Median Household Income
$40,142
Median Earnings
$1,855
Median Rent
$646,600
Median Home Value
Market
Vacancy Rate% for Industrial in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Moody's Food Trucks — 4637 Market St, San Diego, CA 92102
- Zs Buddies Sushi — 4637 Market St, San Diego, CA 92102
- The Groovy Greek — 4637 Market St, San Diego, CA 92102
- LSG Sky Chefs — 675 Gateway Center Dr a, San Diego, CA 92102
Frequently Asked Questions
What type of property is this?
Flex space - For sale as a 100% fee simple interest, the Montbleau & Associates headquarters occupies an urban infill office site.
Where is this flex space located?
The property is located at 555 Raven St San Diego, CA.
What is the asking price?
The asking price for this property is $11,264,576.
What are key features of this property?
This property features: 1984‑built office headquarters facility at 555 Raven Street in San Diego, CA; For sale as 100% fee simple interest in the Montbleau & Associates Headquarters; Located at the southeast corner of Market Street and Raven Street, just over 3 miles from downtown San Diego
