Sign Up Successful!
You now have access to more from Realmo!
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

    1923 Morena Blvd San Diego, CA 92110-3555

    • Medical offices
    • 4,547 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7222626
    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

    • Voguish Lash / Beauty Salon
    • Eden Starr Hair Design / Hair Salon
    • hairbycharee / Hair Salon
    • The Sugar Suite / Beauty Salon / Hair Removal Service
    • Bella Skin / Medical Clinic

    Property Details for 1923 Morena Blvd

    Year built
    1948
    Lot size
    0.15 lot acres
    Property size
    4,547 SF
    Zone code
    COMMERCIAL
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    430-731-03-00
    APU
    4307310300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $665,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $833,000
      Market price range: $272k - $1.09M

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.207
    Latitude
    32.7808
    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
    $21,514
    $1,046,709
    $701,909
    $1,748,618
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $330,000
      2,464 SF

      2477 Congress St

      MEDICAL BUILDING • 2,464 SF
      2477 Congress St, San Diego, CA 92110-2820
      View Details
    • Value Estimation
      $475,000
      1,850 SF

      4062 Harney St

      MEDICAL BUILDING • 1,850 SF
      4062 Harney St, San Diego, CA 92110-2828
      View Details
    • Value Estimation
      $12,045,000
      45,360 SF

      3405 Kenyon St Ste, Unit 411

      MEDICAL BUILDING • 45,360 SF
      3405 Kenyon St Ste, San Diego, CA 92110-5007
      View Details
    • Value Estimation
      $1,210,000
      8,600 SF

      3232 Duke St

      MEDICAL BUILDING • 8,600 SF
      3232 Duke St, San Diego, CA 92110-5401
      View Details
    • Value Estimation
      $325,000
      0.45 Acres

      3520 Kurtz St

      MEDICAL BUILDING • 0.45 Acres
      3520 Kurtz St, San Diego, CA 92110-4442
      View Details
    • Value Estimation
      $455,000
      3,506 SF

      4116 Pt Loma Blvd, Unit 20

      MEDICAL BUILDING • 3,506 SF
      4116 Pt Loma Blvd, San Diego, CA 92110-5605
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,334 SF

      3,334 SF Office /Medical For Sale

      3,334 SF Office /Medical For Sale
      3630 Enterprise Street, 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
    • $2,760,000
      3,334 SF

      San Diego Medical Office Building

      Prime Medical Office, $2.76M, 3,334 SF
      3630 Enterprise St, San Diego, CA 92110
      View Details
    • $399,000
      825 SF

      Morena Office Condo For Sale

      Executive Suite, Prime San Diego Location
      4455 Morena Blvd, San Diego, CA 92110
      View Details
    • $3,215,000
      8,907 SF

      Old Town San Diego Office Building

      Vacant, 8,907 SF, Owner/User Opportunity
      3920 Hortensia St, San Diego, CA 92110
      View Details
    • $999,000

      Old Town San Diego Land

      7,377 sq ft parcel in historic Old Town.
      3966 Conde St, San Diego, CA 92110
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      5,567 SF

      San Diego Medical Coworking Space

      Prime Medical Office Suites, San Diego
      3434 Midway Dr, San Diego, CA 92110
      View Details
    • $19 SF/Yr
      27,193 SF

      Loma Starr Office Building

      Point Loma Office Space, Newly Renovated
      3065 Rosecrans Pl, San Diego, CA 92110
      View Details
    • $27 SF/Yr
      4,949 SF

      Morena Blvd Multi-Use Building

      Prime San Diego location, versatile space.
      1655 Morena Blvd, San Diego, CA 92110
      View Details
    • $2 SF/Yr
      1,210 SF

      Office Space in San Diego

      Office space available for rent in San Diego, CA.
      2356 Moore St, San Diego, CA 92110
      View Details
    • $29 SF/Yr
      3,382 SF

      Office Space For Lease

      Office space available for lease in San Diego, CA.
      5330 Napa St, San Diego, CA 92110
      View Details
    • $24 SF/Yr
      22,188 SF

      Sun Office Plaza: Executive Suites

      Prime San Diego Office Space For Lease
      814 Morena Blvd, 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.
    1923 Morena Blvd
    San Diego, CA 92110-3555
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.