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    4051 Voltaire St San Diego, CA 92107

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    Coastal Mixed-Use Redevelopment, San Diego

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional San Diego development opportunity encompasses two parcels totaling 32,362 square feet (APN 449-452-01-00 & 449-390-18-00), located at 4051 Voltaire St and 4026-34 Wabaska Dr, San Diego, CA 92107. The property is zoned for commercial use and presents a rare chance to create a thriving mixed-use project. Currently operating as a 97% occupied retail center, this income-producing asset provides immediate cash flow while the entitlement process progresses. The approved plans include 39 residential units and 2,492 square feet of ground floor retail space, complemented by underground parking. This prime location along the Voltaire corridor in Point Loma/Ocean Beach offers unparalleled access to the beach (1.5 miles), San Diego International Airport, Liberty Station, SeaWorld, Downtown, Old Town, Mission Bay, and Little Italy. Entitlement close is anticipated by late 2024 or sooner, allowing for immediate income generation while development plans are finalized. This is a unique opportunity to capitalize on a high-demand coastal location with existing income and a clear path to a lucrative mixed-use development. The property's strategic location and current income stream make it an attractive investment for discerning developers seeking a high-return project in a vibrant San Diego neighborhood.

    Property Features for 4051 Voltaire St

    General Information

    Property type
    Land

    HighLights

    • Rare coastal mixed‑use redevelopment opportunity in Point Loma/Ocean Beach.
    • 32,362 square foot lot zoned for commercial use.
    • Currently entitled for 39 residential units and 2,492 square feet of ground floor retail space, plus underground parking.
    • 97% occupied, income‑producing retail center.
    • Prime location: 1.5 miles to the beach, near major freeways, San Diego International Airport, and popular attractions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Paper Moon Music Music School Karen's Consignment Gallery Used Furniture Store Baja Canvas Upholstery Shop Avoca Acupuncture & Wellness Acupuncturist Total Beauty Bar Skin Care Clinic

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.2333473
    Latitude
    32.7425066

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    FAQs

    What type of property is this?
    Land - Coastal Mixed-Use Redevelopment, San Diego
    Where is this land located?
    The property is located at 4051 Voltaire St San Diego, CA.
    What are key features of this property?
    This property features: Rare coastal mixed-use redevelopment opportunity in Point Loma/Ocean Beach.; 32,362 square foot lot zoned for commercial use.; Currently entitled for 39 residential units and 2,492 square feet of ground floor retail space, plus underground parking.
    (760) 390-1617
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    4051 Voltaire St San Diego, CA 92107
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    San Diego, CA 92107
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    4051 Voltaire St San Diego, CA 92107
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