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    Property profile & analytics

    190 Calle Primera San Diego, CA 92173

    • Hotels
    • 19,440 SF
    • 1.21 lot acres
    For Sale
    View listing
    Last Sale
    Jul 11, 2024
    $8,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7324484
    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

    • HOTEL PRIMERA / Hotel

    Property Details for 190 Calle Primera

    Year built
    1975
    Lot size
    1.21 lot acres
    Property size
    19,440 SF
    Zone code
    COMMERCIAL
    Property type
    Hotels
    Property subtype
    Motels
    APN
    666-170-40-00
    APU
    6661704000

    Description

    This 19,440 square foot motel in San Diego, CA, presents a unique adaptive reuse opportunity. Situated on a 1.21-acre corner lot (APN 666-170-40) at 190 Calle Primera, 92173, this property offers significant potential. The existing structure comprises four two-story buildings, built in 1975 and renovated in 2004. Currently vacant, the property features 70 keys and ample surface parking. Zoned CC-2-1, it's ideally located with easy access to I-5 and I-805. Prior plans envisioned converting the motel into a 70-unit (70 studio units and one manager's unit) affordable supportive housing project, potentially leveraging remaining funds from a previously awarded $24 million state grant. This grant, intended for housing and caregiving support for at-risk older adults, may be accessible to a qualified buyer for capital improvements and operational funding. Pre-qualification by a state agency is required. The property's previous intended net rentable area was approximately 18,000 square feet. Bid deadline is November 20th at 5:00 PM PT.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,900,000
      ML approach
      $8,900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,796,000
      Market price range: $9.80M - $21.9M
      AI Estimate
      $5,994,000
      Market price range: $1.62M - $12.8M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $11,760,000
      Current use
      MEDICAL BUILDING
      $11,315,000
      Change: -4% 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
    -117.043
    Latitude
    32.5493
    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
    $102,752
    $4,590,000
    $3,719,403
    $8,309,403
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $15,345,000
      32,816 SF

      230 Via De San Ysidro

      HOTEL/MOTEL • 32,816 SF
      230 Via De San Ysidro, San Diego, CA 92173-2909
      View Details
    • Value Estimation
      $790,000
      0.92 Acres

      930 San Ysidro Blvd

      HOTEL/MOTEL • 0.92 Acres
      930 San Ysidro Blvd, San Diego, CA 92173-1242
      View Details
    • Value Estimation
      $1,225,000
      47,287 SF

      815 San Ysidro Blvd

      HOTEL/MOTEL • 47,287 SF
      815 San Ysidro Blvd, San Diego, CA 92173-1827
      View Details
    • Value Estimation
      $460,000
      0.49 Acres

      144 Montgomery Fwy

      HOTEL/MOTEL • 0.49 Acres
      144 Montgomery Fwy, San Ysidro, CA 92173
      View Details
    • Value Estimation
      $3,095,000
      7,616 SF

      4625 Border Vlg Rd

      HOTEL/MOTEL • 7,616 SF
      4625 Border Vlg Rd, San Diego, CA 92173-3105
      View Details
    • Value Estimation
      $14,950,000
      1.00 Acre

      Sycamore Rd

      HOTEL/MOTEL • 1.00 Acre
      Sycamore Rd, San Diego, CA 92173
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,440 SF

      San Diego Motel Redevelopment Opportunity

      70-Unit Motel, Adaptive Reuse Potential
      190 Calle Primera, San Diego, CA 92173
      View Details
    • $1,500,000

      San Ysidro Apartment Complex

      Five-unit apartment complex in San Ysidro with recent improvements.
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      Sunset Village Condo For Sale

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      San Ysidro Seniors Apartment Complex

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      Land Near US Mexico Border

      Land zoned for residential and senior living development.
      2408 E Beyer Blvd, San Ysidro, CA 92173
      View Details
    • $4,099,000

      Mixed-Use Retail/Office Project For Sale

      New construction mixed-use project with parking and prominent exposure.
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    Similar Nearby for Lease

    • Contact for pricing
      3,660 SF

      Retail Space Near US/Mexico Border

      Retail spaces available in high-traffic San Ysidro shopping center.
      4444-4468 Camino De La Plz, San Ysidro, CA 92173
      View Details
    • Contact for pricing
      829 SF

      San Ysidro Office Space Available

      829 SF office space for rent in San Ysidro.
      225 W San Ysidro Blvd, San Ysidro, CA 92173
      View Details
    • Contact for pricing
      1,347 SF

      Retail Space Near Premium Outlets

      Retail space available near Las Americas Premium Outlets.
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      View Details
    • Contact for pricing
      7,285 SF

      San Ysidro Retail Plaza Investment

      Prime San Diego retail space, border location.
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    • Contact for pricing

      Retail Space Available for Lease

      Retail property available for lease in San Diego, California.
      424 West San Ysidro Blvd, San Diego, CA 92173
      View Details
    • Contact for pricing
      2,414 SF

      Retail Space Near US/Mexico Border

      Retail spaces available in a busy shopping center.
      4450-4458 Camino De La Plz, San Ysidro, CA 92173
      View Details
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    190 Calle Primera
    San Diego, CA 92173
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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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