Flex Space with 7
New
For Sale
$1,150,000
869 Anchorage Pl, Chula Vista, CA 91914
Flexible condominium workspace combines private offices, storage, and two bathrooms in a commercial center setting.
Property Size2,425 SF
Days on Market2
Property Features for 869 Anchorage Pl
General Information
Standard status
Active
Size
2,425 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
2,425 SF
Year Built
2006
Units
1
Listed By:
Jorge Alvarez · License #02047054
(619) 836-2784
Source:
Elliman
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 22 at 2:11PM
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 Jorge Alvarez
Investment Insights
Based on property information with market context.
This 2006 flex condominium is configured for office and storage use, with 7 office spaces, 2 bathrooms, and dedicated storage. The layout can support separate work areas with attached storage or be adapted toward a more open storage arrangement, subject to applicable requirements.
The property is located at 869 Anchorage Pl in Chula Vista’s Eastlake Business District, within Venture Commerce Center. Shopping, dining, and recreational facilities are nearby, while the 125 freeway and Otay Mesa Border Crossing provide regional access. The property’s Walk Score is 56, Bike Score is 44, and Transit Score is 21.
The property is located at 869 Anchorage Pl in Chula Vista’s Eastlake Business District, within Venture Commerce Center. Shopping, dining, and recreational facilities are nearby, while the 125 freeway and Otay Mesa Border Crossing provide regional access. The property’s Walk Score is 56, Bike Score is 44, and Transit Score is 21.
Key Highlights
- 7 office spaces with 2 bathrooms and storage
- Flex condominium layout supports office and storage configurations
- Built in 2006
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
$33,951
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
2.95%
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%
$679,020
$679.0K
Cap Rate 7%
$485,014
$485.0K
Cap Rate 9%
$377,233
$377.2K
Market Conditions
NOI Build-Up for 2,425 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
$56.2K $23.16/SF
− Vacancy
−$3.9K −$1.62/SF
EGI
$52.2K $21.54/SF
− OpEx
−$18.3K −$7.54/SF
NOI
$34.0K $14.00/SF
Area
Chula Vista, CA
Vacancy
7.00%
Lease Rate
$23.16 /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%
$679,020
Cap Rate 7%
$485,014
Cap Rate 9%
$377,233
Alternative Uses
Best Use
Flex RnD
$485.0K
$424.4K – $565.9K
NOI $33,951 @ 7.0% cap · market cap 2.95%
Second Best
Industrial
$352.3K
$308.3K – $411.1K
NOI $24,664 @ 7.0% cap · market cap 2.14%
Theoretical Best
Office A
$773.4K
$676.7K – $902.3K
NOI $54,139 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,894
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91914, CA
17,522
Population
4,948
Households
3.5
Avg Household Size
39
Median Age
48%
College-Educated
94%
High-School Grad
6.6 sq mi
ZIP Area
2,655
Density / Sq Mi
$164,398
Median Household Income
$71,944
Median Earnings
$3,076
Median Rent
$960,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible condominium workspace combines private offices, storage, and two bathrooms in a commercial center setting.
Where is this flex space located?
The property is located at 869 Anchorage Pl Chula Vista, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 7 office spaces with 2 bathrooms and storage; Flex condominium layout supports office and storage configurations; Built in 2006
