Office Building with Owner-User
9320 Chesapeake Drive San Diego, CA 92123
For Sale
Contact for pricing
For sale office property in a high owner-occupancy submarket with investor demand and limited building turnover.
Property Size23,650 SF
Price / SF$211.21
Days on Market58
Property Features for 9320 Chesapeake Drive
General Information
- Standard status
- Active
- Size
- 23,650 SF
- Property subtype
- Office
Building Details
- Year Built
- 1979
Listing Agency:
CBRE - San Diego
(858) 546-4622
Listed By:
Matt Pourcho · License #CA 01705763
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Jul 24 at 3:47PM
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.
9320 Chesapeake Drive is an office building totaling 23,650 square feet and offered for sale at $4,995,000. The property is characterized by a strong owner-user component, with the broader Kearny Mesa submarket showing approximately 80% owner-occupied commercial buildings based on the provided remarks.
According to the public remarks, Kearny Mesa is a supply-constrained office corridor where buildings rarely trade and multi-tenant investment properties are infrequent to market. The opportunity is presented as a rare entry point into this demand-constrained submarket.
For buyers seeking an office investment or owner-user approach, this offering may fit well given the submarket’s documented prevalence of owner-occupied buildings and the lack of frequent turnover among comparable office assets. As with any acquisition, potential buyers should review the property’s specific lease and income details during due diligence, but the deal’s positioning is grounded in the limited availability of similar multi-tenant office listings in the area.
According to the public remarks, Kearny Mesa is a supply-constrained office corridor where buildings rarely trade and multi-tenant investment properties are infrequent to market. The opportunity is presented as a rare entry point into this demand-constrained submarket.
For buyers seeking an office investment or owner-user approach, this offering may fit well given the submarket’s documented prevalence of owner-occupied buildings and the lack of frequent turnover among comparable office assets. As with any acquisition, potential buyers should review the property’s specific lease and income details during due diligence, but the deal’s positioning is grounded in the limited availability of similar multi-tenant office listings in the area.
Key Highlights
- Office property built in 1979
- Located in Kearny Mesa, where approximately 80% of the commercial base is owner‑occupied
- 80% of Kearny Mesa buildings are reported as owner‑user occupied
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $709.5k | $30.00 |
| − Vacancy | −$100.7k | −$4.26 |
| EGI | $608.8k | $25.74 |
| − OpEx | −$152.2k | −$6.44 |
| NOI | $456.6k | $19.31 |
23,650 SF · lease $30.00/SF/yr · vacancy 14.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.52M
$5.71M – $7.61M
NOI $456,563 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.34M
$8.17M – $10.90M
NOI $653,875 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
BIG Marketing
Marketing & Advertising
Band Of Hands
(Bike/Boat/Book/etc) Store
Kohn Architects
Architect
Investment Property Advisors ...
Property Management Company
Give Back Wireless
Corporate Office
FAQs
What type of property is this?
Office building - For sale office property in a high owner-occupancy submarket with investor demand and limited building turnover.
Where is this office building located?
The property is located at 9320 Chesapeake Drive San Diego, CA.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: Office property built in 1979; Located in Kearny Mesa, where approximately 80% of the commercial base is owner‑occupied; 80% of Kearny Mesa buildings are reported as owner‑user occupied
