San Diego Live-Work
For Sale
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2333 Camino del Rio S, San Diego, CA 92108
Live-work space in evolving Mission Valley community.
Property Size2,040 SF
Price / SF$556.37
Days on Market663
Property Features for 2333 Camino del Rio S
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Office
Zoning
Co-2-2
Building Details
Year Built
1985
Stories
3
Listing Agency:
Voit Real Estate Services San Diego
Listed By:
Garrett Fena · License #01919122
Source:
Crexi
Added: Oct 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:17AM
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 Voit Real Estate Services San Diego
Investment Insights
Based on property information with market context.
This 2,040-square-foot property is located in Mission Valley, which is evolving into a live, work, and play community. Over 4,000 residential units are currently under construction, with several thousand more planned for future development. The Mission Valley community plan is being updated to further integrate a live, work, and play environment, allowing residents and employees to easily bike, ride, or walk from their homes to offices and various retail and entertainment amenities.
Key Highlights
- Location in Mission Valley, a rapidly evolving live/work/play community.
- Part of a community with over 4,000 residential units under construction.
- Future development plans include several thousand more residential units.
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
$39,413
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
3.47%
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%
$788,260
$788.3K
Cap Rate 7%
$563,043
$563.0K
Cap Rate 9%
$437,922
$437.9K
Market Conditions
NOI Build-Up for 2,040 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
$68.5K $33.60/SF
− Vacancy
−$5.5K −$2.69/SF
EGI
$63.1K $30.91/SF
− OpEx
−$23.6K −$11.59/SF
NOI
$39.4K $19.32/SF
Area
San Diego, CA
Vacancy
8.00%
Lease Rate
$33.60 /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%
$788,260
Cap Rate 7%
$563,043
Cap Rate 9%
$437,922
Alternative Uses
Best Use
Mixed Use
$563.0K
$492.7K – $656.9K
NOI $39,413 @ 7.0% cap · market cap 3.47%
Second Best
Office B
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 3.47%
Theoretical Best
Specialty Retail
$805.7K
$705.0K – $940.0K
NOI $56,402 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 92108, CA
24,266
Population
14,072
Households
1.7
Avg Household Size
35
Median Age
58%
College-Educated
97%
High-School Grad
4.4 sq mi
ZIP Area
5,515
Density / Sq Mi
$101,704
Median Household Income
$63,136
Median Earnings
$2,731
Median Rent
$606,600
Median Home Value
Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Live-work space in evolving Mission Valley community.
Where is this live-work space located?
The property is located at 2333 Camino del Rio S San Diego, CA.
What is the asking price?
The asking price for this property is $1,135,000.
What are key features of this property?
This property features: Location in Mission Valley, a rapidly evolving live/work/play community.; Part of a community with over 4,000 residential units under construction.; Future development plans include several thousand more residential units.
