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    15004 Innovation Dr San Diego, CA 92128
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    Property profile & analytics

    15004 Innovation Dr San Diego, CA 92128

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    • Medical Office Space
    • 9,999 SF
    • 3.06 lot acres
    For Lease
    $2,055,000
    View Listing →
    Fully Leased Office Space For Lease
    $2,055,000

    Fully Leased Office Space

    Office property in San Diego, currently 100% leased.

    15004 Innovation Dr, San Diego, CA
    View Listing
    Property ID
    US09-6934407
    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

    • Scripps HealthExpress Rancho Bernardo / Medical Clinic
    • Scott Krishel, MD / Medical Clinic
    • Anil Patel, MD / Physician
    • Scripps Clinic Rancho Bernardo / Medical Clinic
    • Scripps Clinic: Horie David S OD / Physician

    Property Details for 15004 Innovation Dr

    Year built
    2008
    Lot size
    3.06 lot acres
    Property size
    9,999 SF
    Zone code
    COMMERCIAL
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    313-740-02-00
    APU
    3137400200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,935,000
      6.5%
      $2,705,000
      7%
      $2,515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,389,000
      Market price range: $598k - $2.39M

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.078
    Latitude
    32.9892
    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
    $868,012
    $7,253,000
    $69,747,000
    $77,000,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,055,000
      34,960 SF

      16766 Bernardo Ctr Dr

      MEDICAL BUILDING • 34,960 SF
      16766 Bernardo Ctr Dr, San Diego, CA 92128-2545
      View Details
    • Value Estimation
      $1,680,000
      7,600 SF

      11820 Ave Of Industry

      MEDICAL BUILDING • 7,600 SF
      11820 Ave Of Industry, San Diego, CA 92128
      View Details
    • Value Estimation
      $13,720,000
      85,271 SF

      15025 Innovation Dr

      MEDICAL BUILDING • 85,271 SF
      15025 Innovation Dr, San Diego, CA 92128-3455
      View Details
    • Value Estimation
      $885,000
      61,286 SF

      17190 Bernardo Ctr Dr

      MEDICAL BUILDING • 61,286 SF
      17190 Bernardo Ctr Dr, San Diego, CA 92128-7030
      View Details
    • Value Estimation by Request
      83,220 SF

      16473 Bernardo Center Dr

      Restaurants • 83,220 SF
      16473 Bernardo Center Dr, San Diego, CA 92128
      View Details
    • Value Estimation by Request
      1,086 SF

      11939 Rancho Bernardo Rd

      Medical Office Space • 1,086 SF
      11939 Rancho Bernardo Rd, San Diego, CA 92128
      View Details

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      Industrial Warehouse Space For Sale

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    Similar Nearby for Lease

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      3,278 SF

      Bernardo Center Drive Retail/Office Suite

      Medical/Office/Retail suite available for lease in San Diego.
      16810-16816 Bernardo Center Dr, San Diego, CA 92128
      View Details
    • Contact for pricing
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      Rancho Bernardo Office/Medical Space

      Office and medical spaces in Town Center Rancho Bernardo.
      16440-16516 Bernardo Center Dr, San Diego, CA 92128
      View Details
    • Contact for pricing
      2,541 SF

      Class A Office/Medical Building

      Class A office/medical building with flexible spaces and amenities.
      15373 Innovation Dr, San Diego, CA 92128
      View Details
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      8,441 SF

      Avenue of Science Office Space

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      San Diego Office Space Available

      Office space for lease in San Diego, California.
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      Bernardo Center Drive Office Space

      Office space available for lease in San Diego, CA.
      17190 Bernardo Center Dr, San Diego, CA 92128
      View Details
    View Listing
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    San Diego, CA 92128
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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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