Inline Retail Strip
For Sale
Contact for pricing
7328-44 Broadway, Lemon Grove, CA 91945
Inline retail space totaling 4,840 SF on a 0.30-acre site, with zoning (G-C) supporting retail and medical uses.
Property Size4,840 SF
Lot Size0.30 Acres
Price / SF$382.23
Days on Market204
Property Features for 7328-44 Broadway
General Information
Standard status
Active
Size
4,840 SF
Lot size
0.30 Acres
Property subtype
Retail, Office
Zoning
G-C
Occupancy
100%
Lease Type
NNN
Net Operating Income
$134,993
Building Details
Year Built
1970
Listing Agency:
Voit Real Estate Services Voit Carlsbad
Listed By:
Josh Salik · License #02108109
(760) 472-5553
Source:
Crexi
Added: Feb 12
Changed: Aug 22
Last Checked: Sep 1 at 5:18PM
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 Voit Real Estate Services Voit Carlsbad
Investment Insights
Based on property information with market context.
7328-44 Broadway is an inline retail strip center offering 4,840 SF of retail space on 0.30 acres of land. The building sits along Lemon Grove’s high-traffic corridor, designed to provide visibility for neighborhood and community-serving retail.
Parking is provided at 5.17 spaces per 1,000 SF, supporting a range of retail and other G-C permitted uses. The property is zoned G-C, which allows for various retail and medical uses, making the center suitable for tenants seeking a storefront format in an established retail setting.
Parking is provided at 5.17 spaces per 1,000 SF, supporting a range of retail and other G-C permitted uses. The property is zoned G-C, which allows for various retail and medical uses, making the center suitable for tenants seeking a storefront format in an established retail setting.
Key Highlights
- 4,840 SF of inline retail space on a 0.30‑acre lot
- Built in 1970
- Located along Lemon Grove’s high‑traffic corridor for visibility
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
$76,027
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
4.11%
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%
$1,520,540
$1.5M
Cap Rate 7%
$1,086,100
$1.1M
Cap Rate 9%
$844,744
$844.7K
Market Conditions
NOI Build-Up for 4,840 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
$116.2K $24.00/SF
− Vacancy
−$7.6K −$1.56/SF
EGI
$108.6K $22.44/SF
− OpEx
−$32.6K −$6.73/SF
NOI
$76.0K $15.71/SF
Area
San Diego County, CA
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,520,540
Cap Rate 7%
$1,086,100
Cap Rate 9%
$844,744
Alternative Uses
Best Use
Retail
$1.09M
$950.3K – $1.27M
NOI $76,027 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,227 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,335
Businesses Nearby
510k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Groceries 20%
Shops & Services 19%
Home Improvements & Furnishings 18%
The Home Depot
Home Improvements & Furnishings
74,069 visits/mo
0.2 miles
In-N-Out Burger
Dining
57,932 visits/mo
0.3 miles
Food 4 Less
Groceries
53,231 visits/mo
0.2 miles
Albertsons
Groceries
46,646 visits/mo
0.4 miles
McDonald's
Dining
31,303 visits/mo
0.3 miles
Demographics for 91945, CA
27,814
Population
9,715
Households
2.9
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
4.0 sq mi
ZIP Area
6,954
Density / Sq Mi
$79,381
Median Household Income
$41,727
Median Earnings
$1,769
Median Rent
$640,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Inline retail space totaling 4,840 SF on a 0.30-acre site, with zoning (G-C) supporting retail and medical uses.
Where is this strip mall located?
The property is located at 7328-44 Broadway Lemon Grove, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,840 SF of inline retail space on a 0.30‑acre lot; Built in 1970; Located along Lemon Grove’s high‑traffic corridor for visibility
