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    1320-1480 Olympic Pkwy Chula Vista, CA 91915

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    1320-1480 Olympic Pkwy Chula Vista, CA 91915

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    • Lifestyle centers
    • 363,300 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1320-1480 Olympic Pkwy

    Property size
    363,300 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Eastlake Terraces offers exceptional retail space in a thriving San Diego County location. This ±363,300 square foot power center boasts a prominent position, anchored by major retailers including Walmart, Home Depot, and Walgreens. Two spaces are currently available, ranging from a minimum of 1,101 square feet to a maximum of 1,470 contiguous square feet, with a total of 2,571 square feet currently vacant. The center is strategically situated within the ±3,200-acre master-planned community of Eastlake, adjacent to the ±23,000-acre Otay Ranch (with an additional ±18,000 homes proposed). Its proximity to the planned Millenia community (up to ±3.5 million square feet of retail, office, civic, hotel, and non-residential uses, and ±2,859 residential units) further enhances its potential. Benefit from exceptional visibility to CA-125 Highway and highly visible tenant signage on the building's rear, facing Eastlake Parkway and Olympic Parkway. This is a unique opportunity to establish a presence in a rapidly growing area with strong demographics and significant future development. The minimum divisible space is 1,101 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chula Vista
    County
    San Diego
    State
    California
    Longitude
    -116.97
    Latitude
    32.6329

    Comparable in this City

    • Value Estimation by Request
      104,000 SF

      2110-2160 Eastlake Pkwy

      Lifestyle centers • 104,000 SF
      2110-2160 Eastlake Pkwy, Chula Vista, CA 91915
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    • Value Estimation by Request
      683,000 SF

      2305 Otay Lakes Rd

      Lifestyle centers • 683,000 SF
      2305 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Value Estimation
      $735,000
      5,137 SF

      1690 Millenia Ave

      MINI-MALL • 5,137 SF
      1690 Millenia Ave, Chula Vista, CA 91915-2799
      View Details
    • Value Estimation
      $1,320,000
      8,835 SF

      1610 Millenia Ave, Unit 20

      MINI-MALL • 8,835 SF
      1610 Millenia Ave, Chula Vista, CA 91915-2794
      View Details
    • Value Estimation
      $2,345,000
      18,315 SF

      1640 Millenia Ave

      MINI-MALL • 18,315 SF
      1640 Millenia Ave, Chula Vista, CA 91915-2795
      View Details
    • Value Estimation
      $16,075,000
      20,775 SF

      2260 Otay Lks Rd

      MINI-MALL • 20,775 SF
      2260 Otay Lks Rd, Chula Vista, CA 91915-1005
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Eastlake Terrace Commercial Land Parcel

      0.88 AC commercial land in a busy shopping center.
      1320 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      2,578 SF

      Chula Vista NNN Leased Property

      NNN leased property in premium location with corporate guaranty.
      2082 Otay Lakes Rd, Chula Vista, CA 91915
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Center in Otay Ranch

      Dominant shopping center serving the Otay Ranch master plan.
      2110-2160 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      3,464 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2315 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      2290 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,274 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      1725 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2010 Birch Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,101 SF

      Retail Space Available For Rent

      Retail space available for rent at 1480 Eastlake Pkwy.
      1480 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
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    Chula Vista, CA 91915
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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.

    More about this property
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