8860 Center Drive Suite 340, La Mesa, CA 91942

Listing Agency: Cushman & Wakefield - San Diego, California

Listed By: Nehal Wadhwa · License #01859922 Show Phone

Source: Crexi

Added: Oct 26 Changed: Nov 8 Last Checked: Nov 8 at 4:49PM

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Investment Insights

Based on property information with market context.

This medical office condominium offers approximately 1,095 SF within a professionally managed Class A building. The property is held on a ground lease and is located in La Mesa’s medical district, next to Sharp Grossmont Hospital. Nearby healthcare practices include physicians and specialists.

Key Highlights

• Approximately 1,095 SF of medical office condominium space
• Located in a professionally managed Class A medical building
• Building is situated on a ground lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,337

Cap Rate

4.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$506,740 $506.7K

Cap Rate 7%

$361,957 $362.0K

Cap Rate 9%

$281,522 $281.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,095 SF

Gross rent

$39.4K $36.00/SF

− Vacancy

−$5.6K −$5.15/SF

EGI

$33.8K $30.85/SF

− OpEx

−$8.4K −$7.71/SF

NOI

$25.3K $23.14/SF

Area

San Diego County, CA

Vacancy

14.30%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$506,740

Cap Rate 7%

$361,957

Cap Rate 9%

$281,522

Alternative Uses

Best Use

Office B

$362.0K

$316.7K – $422.3K (±1% cap)

NOI $25,337 @ 7.0% cap · market cap 4.41%

Second Best

Healthcare Medical

$295.2K

$258.3K – $344.4K (±1% cap)

NOI $20,662 @ 7.0% cap · market cap 3.59%

Theoretical Best

Office A

$501.7K

$439.0K – $585.3K (±1% cap)

NOI $35,118 @ 7.0% cap · market cap 6.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Sharp Grossmont Hospital ... Medical Clinic Sharp Hospital Harold J. Gulbransen, ... Dental Office San Diego Prosthodontics Dental Office Alvarado Orthopedic Helix Physician

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Parts Store Restaurant Storage Facility Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,323

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 91942, CA

40,813

Population

18,488

Households

2.2

Avg Household Size

39

Median Age

38%

College-Educated

94%

High-School Grad

5.8 sq mi

ZIP Area

7,037

Density / Sq Mi

$81,262

Median Household Income

$57,064

Median Earnings

$1,934

Median Rent

$689,300

Median Home Value

Market

Properties on Market for Medical Office Space in San Diego County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Similar Off Market Nearby

• Pet Emergency & Specialty Center - La Mesa — 5232 Jackson Dr Suite 105, La Mesa, CA 91942
• Pet Urgent Care — 5200 Jackson Dr, La Mesa, CA 91942
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• JACKSON SQUARE CENTER — 5200-5232 Jackson Dr, La Mesa, CA 91942
• Fletcher Hills Animal Hospital — 8807 Grossmont Blvd, La Mesa, CA 91942

Frequently Asked Questions

What type of property is this?

Medical Office Space - The suite is part of a professionally managed Class A medical office building.

Where is this medical office space located?

The property is located at 8860 Center Drive Suite 340 La Mesa, CA.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Approximately 1,095 SF of medical office condominium space; Located in a professionally managed Class A medical building; Building is situated on a ground lease