Climate-Controlled Flex R&D
For Sale
Contact for pricing
6359 Nancy Ridge Drive, San Diego, CA 92121
Flex/R&D building offers 100% climate control, two roll-up doors, and a private fenced yard.
Property Size4,657 SF
Price / SF$429.46
Days on Market125
Property Features for 6359 Nancy Ridge Drive
General Information
Standard status
Active
Size
4,657 SF
Class
B
Property subtype
Office, Industrial
Lease Type
Gross
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates - San Diego
Listed By:
Paul Britvar · License #CA 01949354
(858) 230-1166
Source:
Crexi
Added: May 6
Changed: Sep 4
Last Checked: Sep 2 at 4:28AM
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 Lee & Associates - San Diego
Investment Insights
Based on property information with market context.
This flex/R&D building totals approximately 4,657 square feet and is 100% climate controlled. The space is supported by two roll-up doors, with one door glassed in, and includes a warehouse portion with about 12' clear height.
The property also features high-speed internet service through Cox. A private, fenced-in yard serves the complex, and the overall setting is described as quiet and professional.
The building is well-suited for tenants seeking a flexible layout that combines climate-controlled interior space with practical warehouse access via roll-up doors and on-site yard use.
The property also features high-speed internet service through Cox. A private, fenced-in yard serves the complex, and the overall setting is described as quiet and professional.
The building is well-suited for tenants seeking a flexible layout that combines climate-controlled interior space with practical warehouse access via roll-up doors and on-site yard use.
Key Highlights
- ±4,657 SF flex/R&D building with 100% climate‑controlled interior
- Warehouse features 12' warehouse height and 2 roll‑up doors (1 glassed in)
- High‑speed internet available via Cox
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
$67,564
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
3.38%
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%
$1,351,280
$1.4M
Cap Rate 7%
$965,200
$965.2K
Cap Rate 9%
$750,711
$750.7K
Market Conditions
NOI Build-Up for 4,657 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
$111.8K $24.00/SF
− Vacancy
−$7.8K −$1.68/SF
EGI
$103.9K $22.32/SF
− OpEx
−$36.4K −$7.81/SF
NOI
$67.6K $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%
$1,351,280
Cap Rate 7%
$965,200
Cap Rate 9%
$750,711
Alternative Uses
Best Use
Flex RnD
$965.2K
$844.6K – $1.13M
NOI $67,564 @ 7.0% cap · market cap 3.38%
Second Best
Warehouse
$955.4K
$836.0K – $1.11M
NOI $66,877 @ 7.0% cap · market cap 3.34%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,757 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,332
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
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
- CowgirlQ Catering — 6355 Marindustry Dr Suite B, San Diego, CA 92121
- Urban Solace Catering — 6355 Marindustry Dr Suite B, San Diego, CA 92121
- The Wild Thyme Company Catering & Events — 8547 Miramar Pl, San Diego, CA 92121
Frequently Asked Questions
What type of property is this?
Flex space - Flex/R&D building offers 100% climate control, two roll-up doors, and a private fenced yard.
Where is this flex space located?
The property is located at 6359 Nancy Ridge Drive San Diego, CA.
What is the asking price?
The asking price for this property is $1,999,990.
What are key features of this property?
This property features: ±4,657 SF flex/R&D building with 100% climate‑controlled interior; Warehouse features 12' warehouse height and 2 roll‑up doors (1 glassed in); High‑speed internet available via Cox
