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5620 Friars Road, San Diego, CA 92110
Office property with CO-1-2 zoning and direct access to the I-8 freeway corridor.
Property Size55,196 SF
Price / SF$270.96
Days on Market6
Property Features for 5620 Friars Road
General Information
Standard status
Active
Size
55,196 SF
Total Parking Spaces
159
Property subtype
Office
Zoning
CO-1-2
Occupancy
100%
Investment Type
Sale/Leaseback
Net Operating Income
$1,159,116
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1971
Year Renovated
1996
Buildings
1
Tenancy
Single
Listing Agency:
CBRE - San Diego
(858) 546-4622
Listed By:
Matt Pourcho · License #CA 01705763
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 4:33AM
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 CBRE - San Diego
Investment Insights
Based on property information with market context.
This office property contains 55,196 square feet and was constructed in 1971. The building is located at 5620 Friars Road in San Diego and carries CO-1-2 zoning, providing a defined commercial office classification for the site.
The property fronts Friars Road with immediate on-and-off access to I-8, a major regional freeway carrying more than 200,000 vehicles per day through Mission Valley. San Diego International Airport is approximately 4 miles west, while the surrounding freeway network connects with I-15 and SR-163. The site is positioned in Mission Valley, near the geographic center of San Diego County.
The property fronts Friars Road with immediate on-and-off access to I-8, a major regional freeway carrying more than 200,000 vehicles per day through Mission Valley. San Diego International Airport is approximately 4 miles west, while the surrounding freeway network connects with I-15 and SR-163. The site is positioned in Mission Valley, near the geographic center of San Diego County.
Key Highlights
- 55,196‑square‑foot office property
- CO‑1‑2 zoning designation
- Constructed in 1971
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
$1,065,559
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
7.12%
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%
$21,311,180
$21.3M
Cap Rate 7%
$15,222,271
$15.2M
Cap Rate 9%
$11,839,544
$11.8M
Market Conditions
NOI Build-Up for 55,196 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
$1.66M $30.00/SF
− Vacancy
−$235.1K −$4.26/SF
EGI
$1.42M $25.74/SF
− OpEx
−$355.2K −$6.44/SF
NOI
$1.07M $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%
$21,311,180
Cap Rate 7%
$15,222,271
Cap Rate 9%
$11,839,544
Alternative Uses
Best Use
Office B
$15.22M
$13.32M – $17.76M
NOI $1,065,559 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.80M
$19.08M – $25.43M
NOI $1,526,059 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 92110, CA
31,048
Population
13,227
Households
2.3
Avg Household Size
34
Median Age
54%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
6,210
Density / Sq Mi
$102,508
Median Household Income
$52,150
Median Earnings
$2,298
Median Rent
$885,200
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office property with CO-1-2 zoning and direct access to the I-8 freeway corridor.
Where is this office building located?
The property is located at 5620 Friars Road San Diego, CA.
What is the asking price?
The asking price for this property is $14,956,000.
What are key features of this property?
This property features: 55,196‑square‑foot office property; CO‑1‑2 zoning designation; Constructed in 1971
