Elevator-Served Office Suite with Three
For Sale
Contact for pricing
9888 Carroll Center Rd, San Diego, CA 92126
Second-floor office suite with extensive windowline, elevator access, and is currently configured into three adjacent suites.
Property Size52,425 SF
Price / SF$575
Days on Market662
Property Features for 9888 Carroll Center Rd
General Information
Standard status
Active
Size
52,425 SF
Class
Class B
Elevators
Yes
Property subtype
OFFICE
Additional Details
Floor
2
HOA Fee
$1,187
Highway Access
Yes
Amenities
central courtyard
Building Details
Building Size
52,425 SF
Listing Agency:
Lee & Associates | San Diego
(858) 453-9990
Listed By:
Rick Chatham · License #02101796
(253) 988-8802
Source:
Moodyscre
Added: Nov 22, 2024
Changed: Sep 8
Last Checked: Sep 14 at 11:46AM
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 Lee & Associates | San Diego
Investment Insights
Based on property information with market context.
This second-floor office suite totals 3,084 SF and is currently divided into three adjacent suites, providing flexible space for office users. The suite benefits from an extensive windowline, supporting a bright, daylit work environment. The building includes elevator service and shared restrooms on each floor.
The broader property is a 52,425 SF Class B, garden-style office park with a central courtyard. Access is convenient to I-15 via Carroll Canyon Road or Miramar Road, and the location is near many retail amenities.
The suite configuration, shared common restrooms, and elevator service make this space well-suited for organizations that want a self-contained suite arrangement within a multi-tenant office setting.
The broader property is a 52,425 SF Class B, garden-style office park with a central courtyard. Access is convenient to I-15 via Carroll Canyon Road or Miramar Road, and the location is near many retail amenities.
The suite configuration, shared common restrooms, and elevator service make this space well-suited for organizations that want a self-contained suite arrangement within a multi-tenant office setting.
Key Highlights
- 3,084 SF second‑floor office suite
- Currently configured into three adjacent suites
- Elevator served with shared restrooms on each floor
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
$35,292
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
3.66%
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%
$705,840
$705.8K
Cap Rate 7%
$504,171
$504.2K
Cap Rate 9%
$392,133
$392.1K
Market Conditions
NOI Build-Up for 1,679 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
$54.4K $32.40/SF
− Vacancy
−$7.3K −$4.37/SF
EGI
$47.1K $28.03/SF
− OpEx
−$11.8K −$7.01/SF
NOI
$35.3K $21.02/SF
Area
ZIP 92126
Vacancy
13.50%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
25.00%
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%
$705,840
Cap Rate 7%
$504,171
Cap Rate 9%
$392,133
Alternative Uses
Best Use
Office B
$504.2K
$441.2K – $588.2K
NOI $35,292 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$601.7K
$526.5K – $702.0K
NOI $42,117 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Explore this area
Business Placement
Demographics for 92126, CA
74,788
Population
26,146
Households
2.9
Avg Household Size
37
Median Age
49%
College-Educated
90%
High-School Grad
11.6 sq mi
ZIP Area
6,447
Density / Sq Mi
$123,232
Median Household Income
$56,975
Median Earnings
$2,630
Median Rent
$802,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Diego, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office suite with extensive windowline, elevator access, and is currently configured into three adjacent suites.
Where is this office units located?
The property is located at 9888 Carroll Center Rd San Diego, CA.
What is the asking price?
The asking price for this property is $965,425.
What are key features of this property?
This property features: 3,084 SF second‑floor office suite; Currently configured into three adjacent suites; Elevator served with shared restrooms on each floor
