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    303 Santa Fe Dr Encinitas, CA 92024

    Sponsored
    For Sale
    $4,500,000

    Prime Medical Corridor, Owner-User Opportunity

    Property size:
    2,680 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,680 sq ft Class B medical office building in Encinitas, CA, presents a unique owner-user opportunity with multi-tenant potential. Built in 2010, this single-story building features 14 parking spaces, a rooftop solar system, and a backup generator. Strategically located adjacent to Scripps Encinitas Hospital (currently undergoing a $263 million expansion), this high-profile property boasts unparalleled visibility and accessibility. The current tenant, Sovereign Healthcare, holds a lease with options extending to May 2033, featuring 3% annual rent increases, generating a pro-forma NOI of $225,615 and a 5.01% cap rate. The asking price is $4,500,000 ($1,679.10/sq ft). The building's design incorporates Feng Shui principles, creating a harmonious and welcoming atmosphere. The property benefits from a strong, affluent demographic, with limited new development in the area creating significant barriers to entry and ensuring long-term value. The owner-occupant is open to a leaseback, offering additional income potential. This turnkey operation provides immediate income and a chance to establish or expand a medical practice in a thriving coastal community. The APN is 260-072-35.

    Property Features for 303 Santa Fe Dr

    General Information

    Property type
    Medical offices
    Square Feet
    2,680 SF
    Class
    B

    Building Details

    Year Built
    2010
    Stories
    1

    HighLights

    • $4,500,000 asking price for a 2,680 SF medical office building in Encinitas, CA.
    • Owner‑user opportunity with existing income stream from a tenant (Sovereign Healthcare) with a lease extending to May 2033, including 3% annual rent increases.
    • Prime location adjacent to Scripps Encinitas Hospital, currently undergoing a $263 million expansion.
    • Features 14 parking spaces, a backup generator, and a seller‑owned rooftop solar system.
    • High‑quality construction, well‑designed floor plan, and strong demographics with median home values exceeding $1 million.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gillian Galloway, MD Surgeon Gil Q. Galloway, ... Surgeon Dr. Thomas Purgett Surgeon Dr. Gil Q. ... Surgeon

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Encinitas
    County
    San Diego
    State
    California
    Longitude
    -117.2851778
    Latitude
    33.0360121

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Corridor, Owner-User Opportunity
    Where is this medical office located?
    The property is located at 303 Santa Fe Dr Encinitas, CA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: $4,500,000 asking price for a 2,680 SF medical office building in Encinitas, CA.; Owner-user opportunity with existing income stream from a tenant (Sovereign Healthcare) with a lease extending to May 2033, including 3% annual rent increases.; Prime location adjacent to Scripps Encinitas Hospital, currently undergoing a $263 million expansion.
    Request Owner's contact information
    303 Santa Fe Dr Encinitas, CA 92024
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    Encinitas, CA 92024
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    303 Santa Fe Dr Encinitas, CA 92024
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