Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1241 Morena Blvd San Diego, CA 92110-3814

    • Retail space
    • 2,926 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Feb 23, 2024
    $1,850,000
    Value Estimations
    $1,850,000
    Show details
    Cap Rate Potential
    3.8%
    Retail space
    Location Intelligence
    Property ID
    US09-7261076
    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

    • Retail space

    Property Details for 1241 Morena Blvd

    Year built
    1982
    Lot size
    0.09 lot acres
    Property size
    2,926 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    436-201-06-00
    APU
    4362010600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,850,000
      ML approach
      $1,850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,935,000
      Market price range: $418k - $1.94M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,225,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,990,000
      Change: +144% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,845,000
      Change: +51% Conversion: Difficult
      MEDICAL BUILDING
      $1,705,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $1,235,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,130,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.201
    Latitude
    32.7707
    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
    $12,806
    $816,000
    $224,400
    $1,040,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      15.72 Acres

      2706 Calhoun St

      RETAIL STORES (PERSONAL SERVICES) • 15.72 Acres
      2706 Calhoun St, San Diego, CA 92110-2706
      View Details
    • Value Estimation
      $2,710,000
      12,685 SF

      2356 Moore St

      RETAIL STORES (PERSONAL SERVICES) • 12,685 SF
      2356 Moore St, San Diego, CA 92110-3017
      View Details
    • Value Estimation
      $2,210,000
      6,611 SF

      3936 Hortensia St

      RETAIL STORES (PERSONAL SERVICES) • 6,611 SF
      3936 Hortensia St, San Diego, CA 92110-2945
      View Details
    • Value Estimation
      $2,650,000
      14,485 SF

      3127 Jefferson St

      RETAIL STORES (PERSONAL SERVICES) • 14,485 SF
      3127 Jefferson St, San Diego, CA 92110-4422
      View Details
    • Value Estimation by Request
      2,600 SF

      3350 Sports Arena Blvd Ste A

      RETAIL STORES (PERSONAL SERVICES) • 2,600 SF
      3350 Sports Arena Blvd Ste A, San Diego, CA 92110-4531
      View Details
    • Value Estimation
      $4,105,000
      22,585 SF

      5304 Metro St

      RETAIL STORES (PERSONAL SERVICES) • 22,585 SF
      5304 Metro St, San Diego, CA 92110-2644
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,085 SF

      Freestanding Retail Property For Sale

      7,085 SF retail property with excellent freeway access.
      3601 Sports Arena Blvd, San Diego, CA 92110
      View Details
    • $35,000

      Point Loma Retail Business Opportunity

      Turnkey beauty business with established clientele in prime location.
      4005 West Point Loma Blvd, San Diego, CA 92110
      View Details
    • $2,800,000
      Pending

      Mixed-Use Property Near Pechanga Arena

      Mixed-use property with office and retail space near Pechanga Arena.
      4116 W Point Loma Blvd, San Diego, CA 92110
      View Details
    • $50,000

      Established Cafe in Midway District

      Turnkey cafe in San Diego's vibrant Midway District.
      3354 Hancock St, San Diego, CA 92110
      View Details
    • $3,400,000
      6,888 SF

      San Diego Avenue Office Building

      Rare freestanding office, prime location.
      2384 San Diego Ave, San Diego, CA 92110
      View Details
    • Contact for pricing
      12,948 SF

      Old Town San Diego Mixed-Use

      Prime San Diego location, high-yield potential.
      2367-91 Arista St, San Diego, CA 92110
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Point Loma Retail Space Available

      Retail space in Point Loma with high visibility and traffic.
      2790-2804 Midway Dr, San Diego, CA 92110
      View Details
    • Contact for pricing
      2,214 SF

      Retail Space in Sports Arena

      Retail space in high-traffic Sports Arena area, San Diego.
      3550 Rosecrans St, San Diego, CA 92110
      View Details
    • Contact for pricing
      2,124 SF

      Retail Space on Midway Drive

      Retail space available for lease in San Diego, California.
      3604-3610 Midway Dr, San Diego, CA 92110
      View Details
    • Contact for pricing
      4,300 SF

      Retail Space in San Diego

      Retail space available for lease in San Diego, CA.
      3655 Camino Del Rio W, San Diego, CA 92110
      View Details
    • Contact for pricing
      11,036 SF

      San Diego Retail Spaces Available

      Prime San Diego retail spaces, multiple sizes.
      5261 Linda Vista Rd, San Diego, CA 92110
      View Details
    • Contact for pricing
      228 SF

      Retail Space in Point Loma

      Retail spaces available for lease in Point Loma Plaza.
      3609 Midway Dr, San Diego, CA 92110
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1241 Morena Blvd
    San Diego, CA 92110-3814
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!