Furnished Encinitas Office
For Sale
Contact for pricing
131 Aberdeen Dr, Encinitas, CA 92007
Fully furnished office building in Encinitas, move-in ready.
Property Size12,906 SF
Price / SF$767.09
Days on Market703
Property Features for 131 Aberdeen Dr
General Information
Standard status
Active
Size
12,906 SF
Total Parking Spaces
41
Property subtype
Office
Zoning
C-GC1
Investment Type
Owner/User
Building Details
Year Built
1967
Year Renovated
1996
Buildings
1
Stories
2
Listing Agency:
CBRE - San Diego
Listed By:
Matt Pourcho · License #CA 01705763
(858) 546-4622
Source:
Crexi
Added: Oct 3, 2024
Changed: Aug 21
Last Checked: Sep 2 at 9:10AM
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 CBRE - San Diego
Investment Insights
Based on property information with market context.
This 12,906-square-foot office building is available for purchase and comes fully furnished, offering a "plug and play" setup. The furnishings include adjustable desks, chairs, cabling, a ping pong table, and lamps. Purchasing the building may be financially beneficial compared to leasing, due to depreciation write-off, principal paydown, and potential building appreciation. This can allow business owners to minimize expenses while having their business occupancy contribute to their investment portfolio or retirement.
Key Highlights
- Fully Furnished - "Plug N Play" ready, saving approximately $519,000 in move‑in expenses.
- Financially accretive compared to leasing due to depreciation write‑off, principal paydown, and building appreciation.
- Low occupancy cost.
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
$298,632
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
3.02%
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%
$5,972,640
$6.0M
Cap Rate 7%
$4,266,171
$4.3M
Cap Rate 9%
$3,318,133
$3.3M
Market Conditions
NOI Build-Up for 12,906 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
$464.6K $36.00/SF
− Vacancy
−$66.4K −$5.15/SF
EGI
$398.2K $30.85/SF
− OpEx
−$99.5K −$7.71/SF
NOI
$298.6K $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 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%
$5,972,640
Cap Rate 7%
$4,266,171
Cap Rate 9%
$3,318,133
Alternative Uses
Best Use
Office B
$4.27M
$3.73M – $4.98M
NOI $298,632 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.91M
$5.17M – $6.90M
NOI $413,917 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 92007, CA
10,981
Population
4,687
Households
2.3
Avg Household Size
43
Median Age
69%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
4,774
Density / Sq Mi
$165,063
Median Household Income
$69,384
Median Earnings
$2,955
Median Rent
$1,808,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully furnished office building in Encinitas, move-in ready.
Where is this office building located?
The property is located at 131 Aberdeen Dr Encinitas, CA.
What is the asking price?
The asking price for this property is $9,900,000.
What are key features of this property?
This property features: Fully Furnished - "Plug N Play" ready, saving approximately $519,000 in move‑in expenses.; Financially accretive compared to leasing due to depreciation write‑off, principal paydown, and building appreciation.; Low occupancy cost.
