Commercial Real Estate Market in San Diego, CA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
1,875 active listings and 24,880 off-market properties in San Diego, CA. Commercial property asks $578/SF to buy and $23.09/SF/Yr to lease. Office vacancy runs 14.6%, the loosest of the segments tracked here.
Market Trends
San Diego, CA spans 334.2 square miles in San Diego County, California. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in San Diego, CA runs 14.6% in 2025, up from 12% in 2019.
Vacancy Rate %
Retail
Retail vacancy in San Diego, CA runs 4.8% in 2025, little changed from 4.9% in 2019. Down from a 2020 peak of 6%.
Vacancy Rate %
Industrial
Industrial vacancy in San Diego, CA runs 7.2% in 2025, up from 5.1% in 2019. Nearly 3x the 2022 low of 2.4%.
Vacancy Rate %
Multifamily
Multifamily space in San Diego, CA asks $702/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
San Diego, CA has 1,376,155 residents in 551,510 households. Density runs 4,118 people per square mile. Median household income here is $109,359 and median gross rent $2,305 a month.
1,376,155
Population
551,510
Households
2.5
Avg Household Size
36
Median Age
48%
College-Educated
90%
High-School Grad
334.2 sq mi
ZIP Area
4,118
Density / Sq Mi
$109,359
Median Household Income
$58,057
Median Earnings
$2,305
Median Rent
$876,115
Median Home Value
Tools
Lease vs Buy Breakeven
At $23.09/SF/Yr lease vs $578/SF buy → buying wins if held > 20.3 years.
At a 4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Coronado | — | — |
| National City | — | $23.20 |
| Lemon Grove | — | $63.57 |
| La Mesa | — | — |
Commercial property in San Diego, CA asks $578/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in San Diego?
Commercial property in San Diego, CA asks an average of $578 per square foot. The 6 most recent recorded sales traded at a median of $569/SF, so asking sits 2% above the achieved median. Multifamily carries the highest asking price at $702/SF.
How much does it cost to lease commercial space in San Diego?
Asking lease rates in San Diego, CA average $23.09 per square foot per year.
What is the office vacancy rate in San Diego?
Office vacancy in San Diego, CA is 14.6% as of 2025, up from 12% in 2019. Retail vacancy is 4.8%, below Office vacancy.
Which property type has the lowest vacancy in San Diego?
Retail has the lowest vacancy in San Diego, CA at 4.8%, inside a 4.4–6% band since 2019. For comparison: office 14.6%, industrial 7.2% and multifamily 8.6% (West).
Is it cheaper to lease or buy commercial space in San Diego?
Buying beats leasing in San Diego, CA if the property is held longer than 20.3 years, comparing $23.09/SF/Yr asking rent with $578/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's San Diego market data come from?
Realmo compiles San Diego, CA figures from 8 recent recorded sales, 843 active sale listings, 1,032 active lease listings, 24,880 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 843 active for-sale and 1,032 active for-lease listings in San Diego, CA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- multifamily vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
