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

    2244 Otay Lks Rd Chula Vista, CA 91915-1000

    • Turn key restaurants
    • 2,970 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2021
    $3,043,500
    Value Estimations
    $2,425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7113403
    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

    • Turn key restaurants

    Property Details for 2244 Otay Lks Rd

    Year built
    2000
    Lot size
    0.70 lot acres
    Property size
    2,970 SF
    Zone code
    COMMERCIAL
    Property type
    Turn key restaurants
    APN
    595-322-08-00
    APU
    5953220800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,085,000
      ML approach
      $2,110,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,449,000
      Market price range: $781k - $3.45M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,945,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,675,000
      Change: +37% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chula Vista
    County
    San Diego
    State
    California
    Longitude
    -116.967
    Latitude
    32.6469
    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
    $37,317
    $1,802,864
    $1,030,205
    $2,833,069
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,800 SF

      2097 Eastlake Pkwy

      RESTAURANT • 3,800 SF
      2097 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Value Estimation by Request
      4,522 SF

      1960 Optima St

      RESTAURANT • 4,522 SF
      1960 Optima St, Chula Vista, CA 91915-4212
      View Details
    • Value Estimation by Request
      4,199 SF

      2089 Olympic Pkwy

      RESTAURANT • 4,199 SF
      2089 Olympic Pkwy, Chula Vista, CA 91915-1356
      View Details
    • Value Estimation
      $285,000
      4,097 SF

      1670 Millenia Ave

      RESTAURANT • 4,097 SF
      1670 Millenia Ave, Chula Vista, CA 91915-2795
      View Details
    • Value Estimation
      $3,365,000
      4,020 SF

      2258 Otay Lks Rd

      RESTAURANT • 4,020 SF
      2258 Otay Lks Rd, Chula Vista, CA 91915-1000
      View Details
    • Value Estimation
      $280,000
      5,210 SF

      2225 Otay Lks Rd

      RESTAURANT • 5,210 SF
      2225 Otay Lks Rd, Chula Vista, CA 91915-1001
      View Details

    Similar Nearby for Sale

    • $725,000
      1,630 SF

      Cordova Townhome in Otay Ranch

      Well-maintained townhome with resort-style amenities in a desirable community.
      2208 Pasadena Ct, Chula Vista, CA 91915
      View Details
    • $670,000

      Otay Ranch Townhome with Upgrades

      Two-bedroom, two-bath townhome near Otay Ranch mall.
      1721 Cripple Creek Dr, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      3.00 Acres

      Chula Vista Commercial Land Opportunity

      Prime 3-6 acre commercial lot in Chula Vista, CA.
      1227 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • $1,625,545
      2,578 SF

      Chula Vista NNN Leased Property

      NNN leased property in premium location with corporate guaranty.
      2082 Otay Lakes Rd, Chula Vista, CA 91915
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,464 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2315 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      2290 Otay Lakes Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Chula Vista

      Retail space available for lease in Chula Vista, CA.
      2010 Birch Rd, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      1,274 SF

      Retail Space Available For Rent

      Retail space available for lease in Chula Vista, CA.
      1725 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      104,000 SF

      Windingwalk Marketplace Retail Space

      Prime Otay Ranch retail center; spaces available.
      2110-2160 Eastlake Pkwy, Chula Vista, CA 91915
      View Details
    • Contact for pricing
      683,000 SF

      EastLake Village Center Retail Space

      Prime Chula Vista Shopping Center Opportunity
      2305 Otay Lakes Rd, Chula Vista, CA 91915
      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.
    2244 Otay Lks Rd
    Chula Vista, CA 91915-1000
    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.