Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2011 Franklin Ave San Diego, CA 92113-1223
    Property profile & analytics

    2011 Franklin Ave San Diego, CA 92113-1223

    View on Map
    • Warehouses
    • 3,500 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Sep 14, 2023
    $500,000
    Property ID
    US09-7466873
    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
    $550,000
    Show details
    Cap Rate Potential
    7.9%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2011 Franklin Ave

    Year built
    1960
    Lot size
    0.17 lot acres
    Property size
    3,500 SF
    Zone code
    INDUSTRIAL (M ZONE)
    Property type
    Warehouses
    APN
    538-160-28-00
    APU
    5381602800

    Description

    This 7,294 square foot San Diego development site, located at 2011-2013 Franklin Ave in the Logan Heights neighborhood, presents a compelling multifamily investment opportunity. Zoned CN-1-4 & RM-3-7, it allows for commercial and mixed-use development. Pre-approved permits exist for a 12-unit project, including 11 one-bedroom, one-bathroom apartments and one commercial office suite. Construction can commence immediately upon permit fee payment. Alternatively, developers can leverage the Complete Communities Plan, enabling a 6.5 FAR and relaxed parking requirements due to the site's Transit Priority Area location. This infill site offers significant potential for increased density and the creation of affordable housing within the city. The property's APN is 538-160-28. This prime location just east of Downtown San Diego provides excellent access to amenities and transportation. The site's existing permits streamline the development process, minimizing delays and maximizing return on investment. This is a rare chance to capitalize on San Diego's thriving real estate market and contribute to the city's evolving urban landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $635,000
      ML approach
      $570,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $840,000
      6.5%
      $775,000
      7%
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $560,000
      Market price range: $191k - $698k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $865,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.138
    Latitude
    32.7048
    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
    $30
    $409,967
    $273,305
    $683,272
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      2222 Commercial St

      WAREHOUSE, STORAGE • 0.09 Acres
      2222 Commercial St, San Diego, CA 92113-1111
      View Details
    • Value Estimation by Request
      0.18 Acres

      2943 Commercial St

      WAREHOUSE, STORAGE • 0.18 Acres
      2943 Commercial St, San Diego, CA 92113
      View Details
    • Value Estimation by Request
      0.08 Acres

      Dalbergia St

      WAREHOUSE, STORAGE • 0.08 Acres
      Dalbergia St, San Diego, CA 92113
      View Details
    • Value Estimation by Request
      0.08 Acres

      National Ave

      WAREHOUSE, STORAGE • 0.08 Acres
      National Ave, San Diego, CA 92113
      View Details
    • Value Estimation
      $3,135,000
      16,435 SF

      3348 Main St

      WAREHOUSE, STORAGE • 16,435 SF
      3348 Main St, San Diego, CA 92113-3802
      View Details
    • Value Estimation
      $725,000
      3,805 SF

      1694 Main St

      WAREHOUSE, STORAGE • 3,805 SF
      1694 Main St, San Diego, CA 92113-1024
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,742 SF

      Barrio Logan Redevelopment Opportunity

      Mixed-use redevelopment opportunity in the heart of Barrio Logan.
      2186-90 National Ave, San Diego, CA 92113
      View Details
    • Contact for pricing
      12,549 SF

      Rare San Diego Industrial Yard

      Three-parcel industrial yard near Downtown San Diego with redevelopment potential.
      2699 Commercial St, San Diego, CA 92113
      View Details
    • Contact for pricing

      Remodeled Duplex in Central San Diego

      Fully remodeled duplex, ideal for investors or owner-occupants.
      3851 Hemlock St, San Diego, CA 92113
      View Details
    • $3,895,000
      8,144 SF

      New 8-Unit Townhome Community

      New construction 8-unit townhome community in central San Diego.
      837 S 47Th St, San Diego, CA 92113
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,185 SF

      Industrial Warehouse Space Available

      15,185 square foot warehouse space for lease.
      1673 Newton Ave, San Diego, CA 92113
      View Details
    • Contact for pricing
      5,000 SF

      Warehouse/Showroom Near I-5 & SR-94

      8,825 SF warehouse/showroom with great access to major routes.
      2031 Commercial St, San Diego, CA 92113
      View Details
    • $0.75 SF/Yr
      19,900 SF

      Industrial Portfolio with Covered Parking

      Three-building industrial portfolio with office, warehouse, and covered parking.
      1430 National Ave, San Diego, CA 92113
      View Details
    • Contact for pricing
      10,500 SF

      Creative Flex Space Available

      10,500 SF flex space with office and warehouse components.
      1660 Logan Ave, San Diego, CA 92113
      View Details
    • Contact for pricing
      14,250 SF

      Industrial Warehouse with Fenced Yard

      Industrial warehouse with office, fenced yard, and freeway access.
      3388 Main St, San Diego, CA 92113
      View Details
    • Contact for pricing
      128,248 SF

      San Diego Warehouse Distribution Space

      128,248 SF warehouse with high ceilings and ample loading.
      1770 Thor St, San Diego, CA 92113
      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.
    2011 Franklin Ave
    San Diego, CA 92113-1223
    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

    Thank You for Inquiry
    2011 Franklin Ave, San Diego, CA, 92113
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!