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    Property profile & analytics

    198 Main St El Cajon, CA 92020-3399

    • Grocery and convenience stores
    • 77,949 SF
    • 5.60 lot acres
    OFF-MARKET
    Value Estimations
    $14,655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9021441
    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

    • Daydreamy Hair & Charming Curiosities / Hair Salon
    • Tried + True Physio / Physician
    • Main Street Plaza Shopping Center / Shopping Center & Mall
    • Ja'Nor Blu Artistry / Cosmetic Store
    • Mason salon / Hair Salon

    Property Details for 198 Main St

    Year built
    1994
    Lot size
    5.60 lot acres
    Property size
    77,949 SF
    Zone code
    COMMERCIAL
    Property type
    Grocery and convenience stores
    APN
    487-192-47-00
    APU
    4871924700

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,680,000
      6.5%
      $14,475,000
      7%
      $13,440,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,763,000
      Market price range: $4.78M - $15.5M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $22,330,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $22,000,000
      Change: -1% Conversion: Difficult
      WAREHOUSE, STORAGE
      $21,530,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    El Cajon
    County
    San Diego
    State
    California
    Longitude
    -116.964
    Latitude
    32.796
    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
    $328,483
    $10,240,633
    $10,994,265
    $21,234,898
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,260,000
      24,700 SF

      572 Fletcher Pkwy

      GROCERY, SUPERMARKET • 24,700 SF
      572 Fletcher Pkwy, El Cajon, CA 92020-2509
      View Details
    • Value Estimation by Request
      0.41 Acres

      Sunshine Ave

      GROCERY, SUPERMARKET • 0.41 Acres
      Sunshine Ave, El Cajon, CA 92020
      View Details
    • Value Estimation
      $10,160,000
      47,500 SF

      1201 Avocado Ave

      GROCERY, SUPERMARKET • 47,500 SF
      1201 Avocado Ave, El Cajon, CA 92020-7704
      View Details
    • Value Estimation
      $2,270,000
      9,999 SF

      298 Fletcher Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 9,999 SF
      298 Fletcher Pkwy, El Cajon, CA 92020-2506
      View Details
    • Value Estimation
      $7,820,000
      47,486 SF

      250 Travelodge Dr

      RETAIL STORES (PERSONAL SERVICES) • 47,486 SF
      250 Travelodge Dr, El Cajon, CA 92020-4126
      View Details
    • Value Estimation
      $4,585,000
      33,290 SF

      1810 Gillespie Way

      RETAIL STORES (PERSONAL SERVICES) • 33,290 SF
      1810 Gillespie Way, El Cajon, CA 92020-0917
      View Details

    Similar Nearby for Sale

    • $3,995,000
      9,051 SF

      El Cajon Retail Investment Opportunity

      High-yield retail property, strong tenants.
      790 Johnson Ave, El Cajon, CA 92020
      View Details
    • $1,300,000

      El Cajon Mixed-Use Opportunity

      Mixed-use property with live/work unit and redevelopment potential.
      925 W Main St, El Cajon, CA 92020
      View Details
    • $1,250,000
      Pending

      El Cajon Income Property

      Income property featuring a home and duplex in El Cajon.
      175 E Washington Ave, El Cajon, CA 92020
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    • $1,100,000

      Commercial Land For Sale

      Commercial land available for sale.
      927 W Main St, El Cajon, CA 92020
      View Details
    • $400,000

      El Cajon Specialty Property

      Specialty property available for sale in El Cajon, California.
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    • $215,000

      Mobile Home in 55+ Community

      Comfortable mobile home in a vibrant 55+ community.
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    Similar Nearby for Lease

    • Contact for pricing
      17,000 SF

      El Cajon Retail Investment Opportunity

      NNN leased retail property with annual rent increases for sale.
      1360 N Magnolia Ave, El Cajon, CA 92020
      View Details
    • Contact for pricing
      7,574 SF

      El Cajon Retail Space

      Retail space available in El Cajon, California.
      876-890 Jackman St, El Cajon, CA 92020
      View Details
    • $2 SF/Yr
      750 SF

      Retail Space in El Cajon

      Retail space available in a well-established El Cajon location.
      660 S Magnolia Ave, El Cajon, CA 92020
      View Details
    • Contact for pricing
      4,183 SF

      Retail Space in Parkway Plaza

      Retail space available in a regional shopping center.
      575 Fletcher Pkwy, El Cajon, CA 92020
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space in El Cajon

      Grocery-anchored shopping center in a densely populated area.
      1091 E Main St, El Cajon, CA 92020
      View Details
    • Contact for pricing

      Retail Space on Fletcher Parkway

      Retail property available for lease on Fletcher Parkway.
      2646 Fletcher Pkwy, El Cajon, CA 92020
      View Details
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    198 Main St
    El Cajon, CA 92020-3399
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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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