Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2220 Palermo Dr San Diego, CA 92106-1262

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2220 Palermo Dr San Diego, CA 92106-1262

    View on Map
    • Apartment buildings
    • 30,769 SF
    • 0.86 lot acres
    Off-Market
    Last Sale Jun 25, 2024
    $4,480,000
    Property ID
    US09-6553344
    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
    $4,480,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • San Diego Solar Panel Cleaning Specialists / Solar Energy Company
    • Jenergy Fitness / Gym & Fitness Center
    • THE ELECTRIC HEADS / Consultant / Marketing Consultant

    Property Details for 2220 Palermo Dr

    Year built
    1988
    Lot size
    0.86 lot acres
    Property size
    30,769 SF
    Zone code
    R-4:MULTIPLE RESIDENTIAL
    Property type
    Apartment buildings
    APN
    449-641-07-00
    APU
    4496410700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,480,000
      ML approach
      $4,480,000

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.229
    Latitude
    32.741
    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
    $77,901
    $3,777,042
    $2,555,888
    $6,332,930
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $640,000
      4,640 SF

      2829 Nimitz Blvd

      APARTMENT HOUSE (5+ UNITS) • 4,640 SF
      2829 Nimitz Blvd, San Diego, CA 92106-2342
      View Details
    • Value Estimation
      $680,000
      4,700 SF

      2821 Nimitz Blvd

      APARTMENT HOUSE (5+ UNITS) • 4,700 SF
      2821 Nimitz Blvd, San Diego, CA 92106-2347
      View Details
    • Value Estimation
      $530,000
      3,610 SF

      3017 Oliphant St, Unit 23

      APARTMENT HOUSE (5+ UNITS) • 3,610 SF
      3017 Oliphant St, San Diego, CA 92106-1956
      View Details
    • Value Estimation
      $780,000
      5,014 SF

      1311 Evergreen St

      APARTMENT HOUSE (5+ UNITS) • 5,014 SF
      1311 Evergreen St, San Diego, CA 92106-2552
      View Details
    • Value Estimation
      $680,000
      4,032 SF

      3109 Jarvis St, Unit 15

      APARTMENT HOUSE (5+ UNITS) • 4,032 SF
      3109 Jarvis St, San Diego, CA 92106-2225
      View Details
    • Value Estimation
      $800,000
      3,460 SF

      5145 Hbr Dr

      APARTMENT HOUSE (5+ UNITS) • 3,460 SF
      5145 Hbr Dr, San Diego, CA 92106-2308
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,153 SF

      La Playa Eight-Unit Apartment Building

      Eight-unit apartment building in Point Loma's La Playa neighborhood.
      375-81 Rosecrans St, San Diego, CA 92106
      View Details
    • $3,999,999

      Point Loma Multifamily Investment Opportunity

      Eight-unit apartment building in the desirable La Playa neighborhood.
      375 Rosecrans St, San Diego, CA 92106
      View Details
    • $3,999,999
      7,153 SF

      La Playa Multifamily Investment Opportunity

      Eight-unit apartment building in Point Loma's coveted La Playa neighborhood.
      375-81 Rosecrans St, San Diego, CA 92106
      View Details
    • New
      $2,495,000
      Pending

      Point Loma Multifamily Residence

      Exceptional residence with panoramic views, ideal for flexible living.
      3241 Ingelow St, San Diego, CA 92106
      View Details
    • Contact for pricing
      2,678 SF

      Upgraded Point Loma Income Property

      Extensively upgraded triplex in desirable Point Loma neighborhood.
      3021-3023 Sterne St, San Diego, CA 92106
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,429 SF

      Retail Space in San Diego

      Retail space available for lease in San Diego, CA.
      2556 Laning Rd, San Diego, CA 92106
      View Details
    • Contact for pricing
      1,435 SF

      Office Space with Private Offices

      Office space featuring private offices, reception, and conference room.
      2468 Historic Decatur Rd, San Diego, CA 92106
      View Details
    • Contact for pricing
      3,525 SF

      Restaurant and Bar with Courtyard

      3,525 SF restaurant/bar with 4,000 SF outdoor event space.
      1451 Rosecrans St, San Diego, CA 92106
      View Details
    • Contact for pricing

      Office Building Fully Leased

      Fully leased office building available for rent.
      4980 North Harbor Dr, San Diego, CA 92106
      View Details
    • Contact for pricing
      1,754 SF

      Office Space Near San Diego Airport

      Office space for rent with immediate airport and I-5 access.
      4990 N Harbor Dr, San Diego, CA 92106
      View Details
    • Contact for pricing
      12,627 SF

      Modernized Office Space in Liberty

      Class A office space in revitalized Liberty Station community.
      2305 Historic Decatur Rd, San Diego, CA 92106
      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.
    2220 Palermo Dr
    San Diego, CA 92106-1262
    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.
    Sign Up Successful!
    You now have access to more from Realmo!