Mixed-Use Property with
For Sale
$3,475,000
7968-70 BROADWAY, Lemon Grove, CA 91945
Commercially zoned property combines retail space with residential units and a detached house.
Property Size4,704 SF
Lot Size0.53 Acres
Price / SF$738.73
Days on Market17
Property Features for 7968-70 BROADWAY
General Information
Standard status
Active
Size
4,704 SF
Lot size
0.53 Acres
Units
Unit Mix
2 x 1BR, 1 x single-family home
Multifamily Units
3
Additional Details
Asking Price
$3,990,000
Highway Access
Yes
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeService
(619) 254-2934
Listed By:
Zulema Ugarte
Source:
Site28033.myrealestateplatform
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 25 at 9:57AM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
This mixed-use property includes two retail stores, two one-bedroom apartments, and a detached single-family home. The improvements were built in 1950 and contain 4,704 square feet on a 0.53-acre lot zoned Commercial. A four-car garage and additional parking support the property’s varied residential and commercial configuration.
Located at 7968-70 Broadway in Lemon Grove, the property offers access to Highway 94 and Highway 125 and is 20 minutes from the Port of San Diego. The Kelvin Building, a 66-unit luxury apartment property, is located across the street.
Located at 7968-70 Broadway in Lemon Grove, the property offers access to Highway 94 and Highway 125 and is 20 minutes from the Port of San Diego. The Kelvin Building, a 66-unit luxury apartment property, is located across the street.
Key Highlights
- Two retail stores, two one‑bedroom apartments, and a detached single‑family home
- 4,704 square feet of improvements built in 1950
- 0.53‑acre lot with Commercial zoning
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
$101,589
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
2.92%
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%
$2,031,780
$2.0M
Cap Rate 7%
$1,451,271
$1.5M
Cap Rate 9%
$1,128,767
$1.1M
Market Conditions
NOI Build-Up for 4,704 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
$189.7K $40.32/SF
− Vacancy
−$27.1K −$5.77/SF
EGI
$162.5K $34.55/SF
− OpEx
−$61.0K −$12.96/SF
NOI
$101.6K $21.60/SF
Area
San Diego County, CA
Vacancy
14.30%
Lease Rate
$40.32 /SF/Yr
Expense Ratio
37.50%
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%
$2,031,780
Cap Rate 7%
$1,451,271
Cap Rate 9%
$1,128,767
Alternative Uses
Best Use
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,589 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$1.12M
$977.0K – $1.30M
NOI $78,159 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$2.16M
$1.89M – $2.51M
NOI $150,865 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 27%
Groceries 18%
Home Improvements & Furnishings 14%
Sprouts Farmers Market
Groceries
20,088 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,298 visits/mo
0.3 miles
Jack in the Box
Dining
13,762 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
11,210 visits/mo
0.3 miles
Bank of America
Shops & Services
10,345 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?
Mixed-use property - Commercially zoned property combines retail space with residential units and a detached house.
Where is this mixed-use property located?
The property is located at 7968-70 BROADWAY Lemon Grove, CA.
What is the asking price?
The asking price for this property is $3,475,000.
What are key features of this property?
This property features: Two retail stores, two one‑bedroom apartments, and a detached single‑family home; 4,704 square feet of improvements built in 1950; 0.53‑acre lot with Commercial zoning
