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    Trader Joe’s Anchored Neighborhood Center Title is generated by Realmo AI

    9880 Hibert St, San Diego, CA 92131

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    Neighborhood shopping center anchored by Trader Joe’s with a long-tenured tenant base focused on daily-needs shopping.

    Type:RETAIL
    Property size:
    70,693 SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:18 pm

    Property Features for 9880 Hibert St

    General Information

    Standard status
    Active
    Size
    70,693 SF
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Regis Kobzi

    Listing agent Regis Kobzi License #01969314

    Listing office CBRE | San Diego

    Listing date Jun 3, 2026

    Source Moodyscre

    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

    HighLights

    • Trader Joe’s‑anchored neighborhood shopping center totaling 70,693 SF
    • 63% of the existing GLA has been occupied by tenants for more than 15 years
    • Current lease rates are 21% below market, including tenants without extension options
    • CBRE projects approximately a 63% increase in NOI over a 10‑year hold (5.0% CAGR)
    • 1,000 feet of frontage along I‑15 with 276,500 CPD
    • Access via Hibert St from Mira Mesa Blvd (46,500 CPD) and Scripps Ranch Blvd (20,000 CPD)

    Overview

    Trader Joe’s Anchored Neighborhood Center—Scripps Ranch Shopping Center—is a 170,693 SF neighborhood center anchored by Trader Joe’s and supported by a diverse tenant mix designed around daily-needs traffic.

    The property is characterized by strong tenant history and retention, with several tenants representing 63% of the existing GLA having occupied the center for more than 15 years. Reported lease rates are 21% below market, and the remarks note that many tenants do not have extension options, creating a leasing environment focused on maintaining and curating the tenant mix. CBRE is projecting an approximate 63% increase in NOI over a 10-year hold.

    Visibility and access are central advantages. The center includes approximately 1,000 feet of frontage along I-15, with reported traffic of 276,500 vehicles per day. It is also accessed via Hibert St from Mira Mesa Blvd (46,500 CPD) and Scripps Ranch Blvd (120,000 CPD), supporting convenient customer approach from surrounding arterials.
    Location Intelligence

    Current Use by Public Records

    Taste of Hunan 湘村人家 Restaurant Board & Brew - Scripps ... Take-out & Catering Richard N. Phung, ... Physician San Diego HypnoBirthing Training Center

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Mira Mesa Market Center — Westview Pkwy, San Diego, CA 92126
    • Mira Mesa Commercial Shopping Center — 9225 Mira Mesa Blvd, San Diego, CA 92126
    • Scripps Ranch Shopping Center — 9813 Mira Mesa Blvd, San Diego, CA 92131
    • Scripps Mesa Retail Center — 9809 Mira Mesa Blvd, San Diego, CA 92131
    • Oak Tree Plaza — Mira Mesa Blvd, San Diego, CA 92126

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.1145957
    Latitude
    32.9155134

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    FAQs

    What type of property is this?
    Shopping center - Neighborhood shopping center anchored by Trader Joe’s with a long-tenured tenant base focused on daily-needs shopping.
    Where is this shopping center located?
    The property is located at 9880 Hibert St San Diego, CA.
    What are key features of this property?
    This property features: Trader Joe’s‑anchored neighborhood shopping center totaling 70,693 SF; 63% of the existing GLA has been occupied by tenants for more than 15 years; Current lease rates are 21% below market, including tenants without extension options
    (858) 546-4600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Regis Kobzi
    Real Estate License ID: 01969314
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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