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    Property profile & analytics

    2015 Garnet Ave San Diego, CA 92109

    • Retail space
    • 7,645 SF
    • 0.35 lot acres
    For Lease
    View listing
    Last Sale
    Jul 05, 2024
    $4,300,000
    Value Estimations
    $4,300,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8684460
    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

    • Domino's Pizza / Restaurant
    • American smoke shop 4 / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
    • Shawarma Shack / Restaurant
    • The Kluckin Chicken / Restaurant
    • Pacific Fresh Grill / Restaurant

    Property Details for 2015 Garnet Ave

    Year built
    1988
    Lot size
    0.35 lot acres
    Property size
    7,645 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    424-051-01-00
    APU
    4240510100

    Description

    This exceptional 1,836 square foot commercial space, located at 2015 Garnet Avenue in San Diego, California, 92109, presents a fantastic opportunity for a variety of retail or restaurant businesses. Previously used as a restaurant and suitable for fast food or coffee shop concepts, the single-tenant space offers a versatile layout ready for immediate occupancy. The property's prime location on Garnet Avenue ensures high visibility and foot traffic, making it an ideal spot to establish or expand a business. The address is easily accessible, offering convenient access for customers and employees alike. This property is situated in San Diego, CA, a vibrant and growing city with a strong economy and diverse population. The space is ready for immediate use, eliminating the need for extensive renovations or build-outs, allowing for a quick start to operations. This presents a unique chance to secure a well-positioned commercial property in a desirable San Diego location. The property's size and configuration make it suitable for a range of businesses seeking a high-traffic, easily accessible location. Serious inquiries are encouraged to explore this promising investment opportunity. Further details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,300,000
      ML approach
      $4,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,075,000
      6.5%
      $2,840,000
      7%
      $2,635,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,694,000
      Market price range: $3.94M - $7.42M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,585,000
      Current use
      RESTAURANT
      $6,765,000
      Change: +21% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.233
    Latitude
    32.8012
    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
    $28,997
    $1,602,998
    $755,374
    $2,358,372
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.40 Acres

      2207 Garnet Ave Ste A

      RETAIL STORES (PERSONAL SERVICES) • 0.40 Acres
      2207 Garnet Ave Ste A, San Diego, CA 92109-3713
      View Details
    • Value Estimation
      $2,555,000
      7,103 SF

      4477 Msn Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,103 SF
      4477 Msn Blvd, San Diego, CA 92109
      View Details
    • Value Estimation
      $555,000
      1,413 SF

      3816 Msn Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,413 SF
      3816 Msn Blvd, San Diego, CA 92109-7005
      View Details
    • Value Estimation
      $955,000
      3,691 SF

      1574 Hornblend St, Unit 76

      RETAIL STORES (PERSONAL SERVICES) • 3,691 SF
      1574 Hornblend St, San Diego, CA 92109-4321
      View Details
    • Value Estimation
      $1,835,000
      6,856 SF

      735 Santa Clara Pl

      RETAIL STORES (PERSONAL SERVICES) • 6,856 SF
      735 Santa Clara Pl, San Diego, CA 92109-7197
      View Details
    • Value Estimation
      $1,560,000
      5,936 SF

      933 Turquoise St

      RETAIL STORES (PERSONAL SERVICES) • 5,936 SF
      933 Turquoise St, San Diego, CA 92109
      View Details

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    Similar Nearby for Lease

    • $9,100 /Mo
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      Retail Space on Garnet Avenue

      3,600 SF retail space with parking available for lease.
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      View Details
    • $1,995 /Mo
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      Retail/Office Space on Garnet Avenue

      Retail or office space with high foot and vehicle traffic.
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      View Details
    • $2 SF/Yr
      1,622 SF

      La Jolla Blvd Retail/Office Space

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      Retail Space with Patio Option

      Retail space available with optional patio in San Diego.
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      Prime Restaurant Space Available Soon

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      Mission Blvd Retail/Office Space

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      View Details
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    2015 Garnet Ave
    San Diego, CA 92109
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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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