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

    1609 Palm Ave San Diego, CA 92154-1028

    • Retail space
    • 5,060 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    May 16, 2023
    $1,240,000
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    5.4%
    Retail space
    Location Intelligence
    Property ID
    US09-7258977
    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

    • Riggins Urban Barber College / Vocational School / Training Center
    • A & F Saw & Supply / Mill / Factory
    • Samantha Hall / Theater & Performing Art Venue
    • El Payaso / Big Box & Wholesale Store

    Property Details for 1609 Palm Ave

    Year built
    1958
    Lot size
    0.12 lot acres
    Property size
    5,060 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    627-041-30-00
    APU
    6270413000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,475,000
      ML approach
      $1,375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,325,000
      6.5%
      $1,225,000
      7%
      $1,135,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,135,000
      AUTO REPAIR, GARAGE
      $1,950,000

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.099
    Latitude
    32.5835
    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
    $14,735
    $433,500
    $831,300
    $1,264,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.44 Acres

      Charles Ave

      RETAIL STORES (PERSONAL SERVICES) • 1.44 Acres
      Charles Ave, San Diego, CA 92154
      View Details
    • Value Estimation by Request
      1.16 Acres

      De Las Americas Pso

      RETAIL STORES (PERSONAL SERVICES) • 1.16 Acres
      De Las Americas Pso, San Diego, CA 92154
      View Details
    • Value Estimation
      $1,655,000
      9,436 SF

      750 Beyer Way

      RETAIL STORES (PERSONAL SERVICES) • 9,436 SF
      750 Beyer Way, San Diego, CA 92154-2284
      View Details
    • Value Estimation
      $1,750,000
      9,999 SF

      942 Dennery Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,999 SF
      942 Dennery Rd, San Diego, CA 92154-8471
      View Details
    • Value Estimation by Request
      1,404 SF

      1350 Balchen Way

      STORE, RETAIL OUTLET • 1,404 SF
      1350 Balchen Way, San Diego, CA 92154
      View Details
    • Value Estimation
      $1,035,000
      5,096 SF

      1463 Palm Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,096 SF
      1463 Palm Ave, San Diego, CA 92154-1015
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,577 SF

      Dollar Tree NNN Investment Opportunity

      NNN leased Dollar Tree in San Diego for sale.
      1862 Palm Ave, San Diego, CA 92154
      View Details
    • $750,000
      1,277 SF

      San Diego Warehouse/Office Condo

      1277 SF warehouse/office condo near Mexico border, easy freeway access.
      10005 Marconi Dr, San Diego, CA 92154
      View Details
    • $99,000

      Aviation Hangar at Brown Field Airport

      Affordable hangar for aircraft storage or aviation workspace.
      1424 Continental St, San Diego, CA 92154
      View Details
    • Contact for pricing

      7 Acres Land For Lease

      7 acres of land available for lease near freeway.
      8691 Lone Star Rd, San Diego, CA 92154
      View Details
    • $1,595,000

      Imperial Beach Land For Sale

      Land in rapidly developing area near San Diego coastal communities.
      1815 Dahlia Ave, San Diego, CA 92154
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,220 SF

      Retail Space at Pedestrian Entrance

      Retail space well-positioned at pedestrian entrance, 1,220 square feet.
      9660 Via De La Amistad, San Diego, CA 92154
      View Details
    • Contact for pricing
      2,190 SF

      Retail Space in San Diego

      Retail space available for lease in San Diego, CA.
      1515 Palm Ave, San Diego, CA 92154
      View Details
    • Contact for pricing
      1,843 SF

      Retail Space in San Diego

      Retail space available for lease in San Diego, CA.
      3295 Palm Ave, San Diego, CA 92154
      View Details
    • Contact for pricing

      Retail Space in San Diego

      Retail properties available for rent in San Diego, CA 92154.
      Otay Mesa Rd & Heritage Rd, San Diego, CA 92154
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space in San Diego

      2,200 SF retail space available for rent.
      4390 Palm Ave, San Diego, CA 92154
      View Details
    • Contact for pricing
      8,500 SF

      Retail Space Available For Rent

      Retail property with 8,500 square feet available for rent.
      525-695 Saturn Blvd, San Diego, CA 92154
      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.
    1609 Palm Ave
    San Diego, CA 92154-1028
    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!