Turnkey Medical Office
For Sale
$750,000
Pending
890 EASTLAKE PKWY 203, Chula Vista, CA 91914
Medical office condo for sale, operating as pediatrics and family practice.
Property Size1,272 SF
Days on Market111
Property Features for 890 EASTLAKE PKWY 203
General Information
Standard status
Pending
Size
1,272 SF
Property subtype
Commercial
Building Details
Building Size
1,272 SF
Year Built
2006
Units
1
Listing Agency:
eXp Realty of California, Inc.
(619) 240-9201
Listed By:
Berk Akcal · License #02092857
(619) 240-9201
Source:
Elliman
Added: Apr 24
Changed: Aug 9
Last Checked: Aug 8 at 1:50PM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
This turnkey medical office condo is currently operating as a pediatrics and family practice. The fully built-out suite features a functional, office-intensive layout designed for efficient patient flow and daily clinical operations. This property offers a rare opportunity for medical professionals or investors to acquire the real estate and a negotiable, established practice, along with available medical equipment. The suite includes a welcoming reception area, multiple partitioned offices and exam rooms, secure storage, and a plug-and-play setup for immediate use. Additional features include central air and heating with after-hours HVAC availability, recessed lighting, drop ceilings, emergency lighting, and convenient elevator access for patients and staff. The newer building provides a professional medical environment with abundant on-site parking. It is ideal for owner-users, medical groups, or investors seeking a well-located healthcare asset with existing operational infrastructure. The bike score is 74, making it very bikeable. The walk score is 68, indicating it is somewhat walkable, and the transit score is 38, suggesting some transit options are available.
Key Highlights
- Turnkey medical office condo, ready for immediate use.
- Fully built‑out suite with functional layout for efficient patient flow.
- Rare opportunity to acquire real estate and established practice (negotiable).
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
$21,315
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
2.84%
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%
$426,300
$426.3K
Cap Rate 7%
$304,500
$304.5K
Cap Rate 9%
$236,833
$236.8K
Market Conditions
NOI Build-Up for 1,272 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
$33.1K $26.04/SF
− Vacancy
−$4.7K −$3.70/SF
EGI
$28.4K $22.34/SF
− OpEx
−$7.1K −$5.59/SF
NOI
$21.3K $16.76/SF
Area
Chula Vista, CA
Vacancy
14.20%
Lease Rate
$26.04 /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%
$426,300
Cap Rate 7%
$304,500
Cap Rate 9%
$236,833
Alternative Uses
Best Use
Office B
$304.5K
$266.4K – $355.3K
NOI $21,315 @ 7.0% cap · market cap 2.84%
Second Best
Healthcare Medical
$278.9K
$244.1K – $325.4K
NOI $19,525 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$405.7K
$355.0K – $473.3K
NOI $28,398 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,141
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Banfield Pet Hospital — 970 Eastlake Pkwy Ste 102, Chula Vista, CA 91914
- Vetco Total Care Animal Hospital — 878 Eastlake Pkwy #1210, Chula Vista, CA 91914
- Eastlake Village Vet Clinic — 2260 Otay Lakes Rd #113, Chula Vista, CA 91915
- Pet Physical Therapy of Sn Diego — 2260 Otay Lakes Rd, Chula Vista, CA 91915
- Vetco — 878 Eastlake Pkwy #1210, Chula Vista, CA 91914
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo for sale, operating as pediatrics and family practice.
Where is this medical office space located?
The property is located at 890 EASTLAKE PKWY 203 Chula Vista, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Turnkey medical office condo, ready for immediate use.; Fully built‑out suite with functional layout for efficient patient flow.; Rare opportunity to acquire real estate and established practice (negotiable).
