El Cajon Warehouse on
For Sale
$1,498,800
939 W Main, El Cajon, CA 92020
Industrial warehouse with parking and redevelopment potential near trolley hub.
Property Size3,800 SF
Lot Size0.12 Acres
Price / SF$394.42
Days on Market152
Property Features for 939 W Main
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.12 Acres
Property subtype
Commercial
Building Details
Year Built
1972
Units
1
Listing Agency:
Pacific Coast Commercial
(619) 992-5863
Listed By:
Lesha Montoya · License #02007808
(619) 992-5863
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:22AM
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 Pacific Coast Commercial
Investment Insights
Based on property information with market context.
The industrial warehouse at 939 W. Main features approximately 8 to 10 parking spaces and is fully fenced. The building has frontage on W. Main Street and contains approximately 3,800 square feet on a 0.12-acre lot, which is about 5,219 square feet. Suited for an owner-user or investor. The seller has all four parcels on the market. Located two blocks from a trolley hub and bus lines. The City of El Cajon has announced a major revitalization of downtown El Cajon in partnership with New City America. The city advised that AB 2011 and SB6 may allow for increased housing and to see if this industrial area and any conversions to residential units will allow for any variances in approval for additional units above the required mixed-use zoning. The seller owns the neighboring three parcels also. Assemblage would be to the east for a four-parcel portfolio sale. This assemblage allows for a developer to acquire four parcels for a larger mixed-use development. The portfolio is offered at a discounted price. All four of these parcels are for sale for the first time in 40 years.
Key Highlights
- Prime Redevelopment Opportunity: Located 2 blocks from the Trolley Hub/Bus in revitalizing downtown El Cajon.
- Portfolio Assemblage Potential: Part of a 4‑parcel portfolio totaling over 21,000 SF, offering a larger mixed‑use development opportunity (portfolio offered at $4,900,000).
- Strategic Location: Frontage on W. Main St. in an area undergoing major revitalization.
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
$47,294
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
3.16%
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%
$945,880
$945.9K
Cap Rate 7%
$675,629
$675.6K
Cap Rate 9%
$525,489
$525.5K
Market Conditions
NOI Build-Up for 3,800 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
$59.3K $15.60/SF
− Vacancy
−$3.6K −$0.96/SF
EGI
$55.6K $14.64/SF
− OpEx
−$8.3K −$2.20/SF
NOI
$47.3K $12.45/SF
Area
El Cajon, CA
Vacancy
6.14%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$945,880
Cap Rate 7%
$675,629
Cap Rate 9%
$525,489
Alternative Uses
Best Use
Warehouse
$675.6K
$591.2K – $788.2K
NOI $47,294 @ 7.0% cap · market cap 3.16%
Second Best
Industrial
$556.4K
$486.9K – $649.1K
NOI $38,948 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$944.1K
$826.1K – $1.10M
NOI $66,090 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92020, CA
60,454
Population
20,311
Households
3
Avg Household Size
37
Median Age
26%
College-Educated
84%
High-School Grad
11.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$72,822
Median Household Income
$39,855
Median Earnings
$1,793
Median Rent
$741,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- A-1 Self Storage — 556 W Main St, El Cajon, CA 92020
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with parking and redevelopment potential near trolley hub.
Where is this warehouse located?
The property is located at 939 W Main El Cajon, CA.
What is the asking price?
The asking price for this property is $1,498,800.
What are key features of this property?
This property features: Prime Redevelopment Opportunity: Located 2 blocks from the Trolley Hub/Bus in revitalizing downtown El Cajon.; Portfolio Assemblage Potential: Part of a 4‑parcel portfolio totaling over 21,000 SF, offering a larger mixed‑use development opportunity (portfolio offered at $4,900,000).; Strategic Location: Frontage on W. Main St. in an area undergoing major revitalization.
