Flex Office and Production
For Sale
Contact for pricing
6162 Nancy Ridge Dr, San Diego, CA 92121
Modern office and production/lab/warehouse space includes skylights, roll-up doors, and 14-foot clear height.
Property Size14,369 SF
Price / SF$678.54
Days on Market201
Property Features for 6162 Nancy Ridge Dr
General Information
Standard status
Active
Size
14,369 SF
Property subtype
FLEX_R_AND_D
Additional Details
Clear Height
14 ft
Amenities
skylights
breakroom
coffee bar
Listing Agency:
Newmark | San Jose
(408) 727-9600
Listed By:
William F. Steele · License #RE#00938326
(408) 982-8458
Source:
Moodyscre
Added: Feb 26
Changed: Sep 12
Last Checked: Sep 14 at 12:15PM
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 Newmark | San Jose
Investment Insights
Based on property information with market context.
This for-sale flex facility combines office space with production, lab, and warehouse components. The layout is described as approximately 2/3 modern office and 1/3 production/lab/warehouse, supported by skylights in the production area and two glass panel roll-up doors. The production space features a 14-foot clear height and strong natural light from an outstanding window line.
The building has plumbing/soil lines in place for wet lab or other uses, with LED lighting throughout. The ground floor includes a breakroom, and the second floor offers a coffee bar. Private offices feature sidelight windows, providing additional daylight into workspaces.
Operationally, the property is configured to support mixed use under one roof, with dedicated roll-up access for the production/lab/warehouse portion and modern office improvements throughout.
The building has plumbing/soil lines in place for wet lab or other uses, with LED lighting throughout. The ground floor includes a breakroom, and the second floor offers a coffee bar. Private offices feature sidelight windows, providing additional daylight into workspaces.
Operationally, the property is configured to support mixed use under one roof, with dedicated roll-up access for the production/lab/warehouse portion and modern office improvements throughout.
Key Highlights
- Modern office plus production/lab/warehouse layout with 2/3 office and 1/3 production/lab/warehouse
- Skylights in the production area for added natural light
- Two glass panel roll‑up doors for production/warehouse access
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
$277,394
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
2.85%
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%
$5,547,880
$5.5M
Cap Rate 7%
$3,962,771
$4.0M
Cap Rate 9%
$3,082,156
$3.1M
Market Conditions
NOI Build-Up for 14,369 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
$431.1K $30.00/SF
− Vacancy
−$61.2K −$4.26/SF
EGI
$369.9K $25.74/SF
− OpEx
−$92.5K −$6.44/SF
NOI
$277.4K $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%
$5,547,880
Cap Rate 7%
$3,962,771
Cap Rate 9%
$3,082,156
Alternative Uses
Best Use
Office B
$3.96M
$3.47M – $4.62M
NOI $277,394 @ 7.0% cap · market cap 2.85%
Second Best
Flex RnD
$2.98M
$2.61M – $3.47M
NOI $208,465 @ 7.0% cap · market cap 2.14%
Theoretical Best
Specialty Retail
$5.68M
$4.97M – $6.62M
NOI $397,274 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,464
Businesses Nearby
Well-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Diego, CA
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Frequently Asked Questions
What type of property is this?
Flex space - Modern office and production/lab/warehouse space includes skylights, roll-up doors, and 14-foot clear height.
Where is this flex space located?
The property is located at 6162 Nancy Ridge Dr San Diego, CA.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Modern office plus production/lab/warehouse layout with 2/3 office and 1/3 production/lab/warehouse; Skylights in the production area for added natural light; Two glass panel roll‑up doors for production/warehouse access
