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    12121 Scripps Summit Dr San Diego, CA 92131
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    Property profile & analytics

    12121 Scripps Summit Dr, San Diego, CA 92131

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    • Office buildings
    • 9,999 SF
    • 1.35 lot acres
    For Lease
    $3,780,000
    View Listing →
    Class A Office Building For Lease
    $3,780,000

    Class A Office Building

    Four-story office building with upgraded fitness center and renovated lobby.

    12121 Scripps Summit Drive, San Diego, CA 92131
    View Listing
    Property ID
    US09-8844439
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • National Pen / Marketing & Advertising
    • Siemens / Engineer / Engineering Consultant
    • DeepSeas / IT Consulting Firm / Tech Support Center
    • Exchange Resources, Inc. / Real Estate Agency
    • Infineon Technologies / Industrial Manufacturer / Production Facility

    Property Details for 12121 Scripps Summit Dr

    Year built
    2006
    Lot size
    1.35 lot acres
    Zone code
    INDUSTRIAL (M ZONE)
    Property type
    Office buildings
    APN
    316-330-13-00
    APU
    3163301300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 16, 2014 $40,000,000 Sct Northridge LLC Aslan III Northridge LP Grant Deed —
    Jun 29, 2010 — Transwestern Northridge LP — Deed Of Trust · related $32M · Wells Fargo Bank
    Dec 5, 2006 — Transwestern Northridge L P Scripps Northridge LLC Grant Deed —
    Jun 19, 2006 — Lankford 818 K LLC LP Scripps Northridge LLC Grant Deed —
    Dec 28, 2004 — L P Scripps Northridge LLC Kearny Scripps LLC Grant Deed · related —
    Apr 21, 1998 $8,520,000 Kearny Scripps LLC Curry Trust Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,430,000
      6.5%
      $3,170,000
      7%
      $2,940,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,119,000
      Market price range: $1.43M - $4.12M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,220,000
      Current use
      MEDICAL BUILDING
      $5,820,000
      Change: +38% Conversion: Easy
      RETAIL STORES
      $4,810,000
      Change: +14% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $4,020,000
      Change: -5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,855,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.101
    Latitude
    32.94
    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
    $369,980
    $2,710,051
    $30,046,263
    $32,756,314
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      9,999 SF

      10641 Scripps Smt Ct

      OFFICE BUILDING (MULTI-STORY)
      10641 Scripps Smt Ct, San Diego, CA 92131-3918
      View Details
    • Value Estimation
      $3,810,000
      9,999 SF

      10159 Scripps Gtwy Ct

      OFFICE BUILDING (MULTI-STORY)
      10159 Scripps Gtwy Ct, San Diego, CA 92131-5152
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    • Value Estimation by Request
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      10531 Scripps Poway Pkwy

      RADIO OR TV STATION
      10531 Scripps Poway Pkwy, San Diego, CA 92131-3917
      View Details
    • Value Estimation
      $1,185,000
      5,850 SF

      12112 Scripps Smt Dr

      MEDICAL BUILDING
      12112 Scripps Smt Dr, San Diego, CA 92131-4606
      View Details
    • Value Estimation
      $4,500,000
      17,750 SF

      10075 Carroll Cyn Rd Ste, Unit 200

      RADIO OR TV STATION
      10075 Carroll Cyn Rd Ste, San Diego, CA 92131-1169
      View Details
    • Value Estimation
      $13,210,000
      80,547 SF

      10670 Wexford St, Unit 72

      MEDICAL BUILDING
      10670 Wexford St, San Diego, CA 92131-3940
      View Details

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      Office Space for Lease

      Office space available for lease at 10260 Meanley Dr. in San Diego, suitable for a range of professional uses.
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      Class A Office Building

      Four-story office building with upgraded fitness center and renovated lobby.
      12121 Scripps Summit Dr, San Diego, CA 92131
      View Details
    • Contact for pricing

      Scripps Lake Office Plaza

      Two-story office building in Scripps Ranch with landscaped courtyard.
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      High Quality Office Space

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      Office Building for Lease

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      129,919 SF

      Office Space in San Diego

      Available office space totaling 129,919 square feet in San Diego.
      12220 Scripps Summit Dr, San Diego, CA 92131
      View Details
    View Listing
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    San Diego, CA 92131
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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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