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    Property profile & analytics

    1068 Broadway El Cajon, CA 92021

    • Medical offices
    • 15,632 SF
    • 0.89 lot acres
    For Sale
    View listing
    $6,000,000
    Last Sale
    Nov 02, 2022
    $6,250,000
    Value Estimations
    Cap Rate Potential
    3.1%
    Medical offices
    Location Intelligence
    Property ID
    US09-8848329
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Faragallah S Chiropractic Orthost & QLFD MDCL Exmn / Orthopedic Clinic / Alternative Medicine
    • CRT Plasma / Blood Donation Center / Blood Bank
    • East County Pain and Rehabilitation Center / Medical Center / Alternative Medicine Practitioner
    • Cheri Joseph L.Ac. HHP / Alternative Medicine / Pain Control Clinic
    • Scantibodies Biologics Plasma Center / Blood Donation Center / Donations Center

    Property Details for 1068 Broadway

    Year built
    1985
    Lot size
    0.89 lot acres
    Property size
    15,632 SF
    Zone code
    COMMERCIAL
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    484-293-34-00
    APU
    4842933400

    Description

    This exceptional investment opportunity presents a 15,632-square-foot medical office building in El Cajon, CA, currently occupied by CRT Plasma under a 15-year absolute triple-net (NNN) lease. The lease features a 6.95% cap rate and a substantial 2.5% annual rent increase. Four 5-year renewal options provide long-term stability. The property boasts a 100% occupancy rate and a strong NOI of $468,960. Situated on a 0.89-acre lot, the building was constructed in 1984 and enjoys a prime location on Broadway, a major thoroughfare with over 24,700 vehicles daily. The area offers excellent visibility and accessibility, with proximity to Interstate 8 (148,000 VPD) and CA-67 (100,000 VPD). The surrounding area is densely populated, with over 308,000 residents within a five-mile radius and an average household income exceeding $124,210. Major retailers such as Target, Home Depot, and Best Buy are nearby, along with Parkway Plaza, a regional shopping center. The low submarket vacancy rate of 3% (according to CoStar) further underscores the desirability of this location. The tenant, CRT Plasma, is a well-established medical practice led by a Johns Hopkins-trained specialist, ensuring a stable and reliable income stream. This sale-leaseback opportunity offers a compelling combination of strong financial performance, long-term lease security, and a desirable location within the San Diego MSA. The asking price is $6,750,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,625,000
      ML approach
      $6,600,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $7,420,000
      Current use
      RESTAURANT
      $10,250,000
      Change: +38% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    El Cajon
    County
    San Diego
    State
    California
    Longitude
    -116.946
    Latitude
    32.8081
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $59,698
    $3,060,000
    $1,785,000
    $4,845,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,945,000
      18,765 SF

      1625 Main St

      MEDICAL BUILDING • 18,765 SF
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      View Details
    • Value Estimation
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      600 Broadway

      MEDICAL BUILDING • 17,000 SF
      600 Broadway, El Cajon, CA 92021-4628
      View Details
    • Value Estimation
      $2,275,000
      13,547 SF

      1651 Main St

      MEDICAL BUILDING • 13,547 SF
      1651 Main St, El Cajon, CA 92021-5206
      View Details
    • Value Estimation
      $2,320,000
      10,295 SF

      1136 Broadway, Unit 42

      MEDICAL BUILDING • 10,295 SF
      1136 Broadway, El Cajon, CA 92021-7402
      View Details
    • Value Estimation
      $820,000
      3,705 SF

      1351 Broadway, Unit 53

      MEDICAL BUILDING • 3,705 SF
      1351 Broadway, El Cajon, CA 92021-5811
      View Details
    • Value Estimation by Request
      2,324 SF

      1580 2nd St

      MEDICAL BUILDING • 2,324 SF
      1580 2nd St, El Cajon, CA 92021-3447
      View Details

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    1068 Broadway
    El Cajon, CA 92021
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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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