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    1601 S Melrose Dr Vista, CA 92081
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    1601 S Melrose Dr, Vista, CA 92081

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    • Strip malls
    • 9,999 SF
    • 12.00 lot acres
    For Lease
    $7,525,000
    View Listing →
    Retail Space For Lease For Lease
    $7,525,000

    Retail Space For Lease

    Retail space available for lease in Vista, California.

    1601 S Melrose Dr, Vista, CA 92081
    View Listing
    Property ID
    US09-9971935
    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
    $7,525,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • EVgo Charging Station / Electric Vehicle Charging Station
    • Starbucks / Cafe & Coffee Shop
    • Albertsons Bakery / Bakery / Specialty Food Shop
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • KeyMe Locksmiths / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 1601 S Melrose Dr

    Year built
    1990
    Lot size
    12.00 lot acres
    Zone code
    COMMERCIAL
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    183-220-22-00
    APU
    1832202200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2025 — Mgp Xiii Melrose Village Plaza LLC — Deed · related $63M · Wells Fargo Bank National Association
    Oct 16, 2025 — Ross Dress For Less INC Mgp Xiii Melrose Village Plaza LLC Deed —
    Jun 10, 2024 — Mgp Xiii Melrose Village Plaza LLC — Deed · related $31M · Bank Of America NA
    Sep 27, 2023 $28,825,000 Mgp Xiii Melrose Village Plaza LLC Pk II Melrose Village Plaza LP Grant Deed —
    Jul 11, 2016 — Pk II Melrose Village Plaza LP — Deed · related $15M · Wells Fargo Bk
    Nov 17, 2006 — Kimco Realty Corp Pan Pacific Retail Props INC Grant Deed —
    Jan 5, 1999 — Pan Pacific Retail Properties Melrose Village Plaza Partners Grant Deed · related —
    Jun 30, 1989 — Melrose Village — Grant Deed · related $16.2M · Toronto Dominion Bank
    Jan 20, 1989 $2,715,000 Bce Dev INC Pan Pacific Dev Trustees Deed —
    Jan 20, 1989 — Melrose Village Pan Pacific Dev Trustees Deed · related —
    — — Melrose Village Plaza Pk II — Deed Of Trust · related $6.6M · New York Life Insurance
    — — Pk II Melrose Village Plaza LP — Deed Of Trust · related $15M · Wells Fargo Bk
    — — Melrose Village Plaza Pk II — Deed Of Trust · related $17.7M · New York Life Insurance

    Description

    Melrose Village Plaza, located at 1601 S Melrose Dr in Vista, CA 92081, presents a significant retail opportunity in San Diego County. This established center offers a total of 136,672 square feet of commercial space, divided into eight suites. The property sits on a generous 12-acre lot, providing ample parking and visibility. Currently, there are 23,269 square feet of vacant space available for lease, offering flexibility for businesses of various sizes. Individual suites range from a minimum of 1,020 square feet to a maximum contiguous space of 7,285 square feet, catering to a diverse range of tenants. The property's location in Vista, California, provides excellent access to a thriving community and strong consumer base. This is an ideal opportunity for businesses seeking high-traffic retail space in a well-established center. The property is classified as retail commercial with multiple tenancies. Interested parties are encouraged to inquire about lease terms and available spaces. The property's address is easily accessible and benefits from high visibility along S Melrose Dr. This is a rare opportunity to secure prime retail space in a desirable San Diego County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $9,095,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,010,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Vista
    County
    San Diego
    State
    California
    Longitude
    -117.248
    Latitude
    33.1659
    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
    $402,077
    $12,000,000
    $16,825,000
    $28,825,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      View Details
    • Value Estimation
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      4,862 SF

      3295 Business Park Dr

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      View Details
    • Value Estimation
      $5,040,000
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      3265 Business Park Dr

      SHOPPING CENTER, STRIP CENTER
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      View Details
    • Value Estimation
      $5,075,000
      8,245 SF

      3211 Business Park Dr

      SHOPPING CENTER, STRIP CENTER
      3211 Business Park Dr, Vista, CA 92081-8529
      View Details
    • Value Estimation
      $5,060,000
      4,500 SF

      3231 Business Park Dr

      SHOPPING CENTER, STRIP CENTER
      3231 Business Park Dr, Vista, CA 92081-8530
      View Details
    • Value Estimation
      $2,315,000
      9,999 SF

      1900 Hacienda Dr, Unit 50

      MINI-MALL
      1900 Hacienda Dr, Vista, CA 92081-6023
      View Details

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      Retail Space for Lease

      Retail space available for lease in Vista, California.
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      Retail Space for Lease

      Retail property available for lease in Vista, California.
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      Retail Space For Lease

      Retail space available for lease in Vista, California.
      1601 S Melrose Dr, Vista, CA 92081
      View Details
    View Listing
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    Vista, CA 92081
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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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