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    2611 Adams Ave San Diego, CA 92116

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    2611 Adams Ave San Diego, CA 92116

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    • Retail space
    • 3,360 SF
    • 0.16 lot acres
    For Sale
    $4,495,000
    View Listing →
    North Park Mixed-Use Investment Property For Sale
    $4,495,000
    3,360 SF

    North Park Mixed-Use Investment Property

    Rebuilt mixed-use property with restaurant and luxury boutique suites.

    2611 Adams Ave, San Diego, CA 92116
    View Listing
    Property ID
    US09-7279937
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Craig & Associates Inc / Land Surveyor

    Property Details for 2611 Adams Ave

    Lot size
    0.16 lot acres
    Property size
    3,360 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    445-082-01-00
    APU
    4450820100

    Description

    This exceptional 11-unit apartment building, constructed in 2024, presents a compelling investment opportunity in San Diego's desirable North Park neighborhood. The property boasts 5,830 square feet on a 0.16-acre lot and features ten studio apartments ranging from 155 to 285 square feet, and one retail unit currently leased to a beer garden under a new 7-year NNN lease. Each studio apartment includes contemporary finishes, 9-foot ceilings, quartz countertops, full kitchen appliance packages, HVAC systems, built-in shelves, and storage cabinetry. On-site amenities include laundry facilities and off-street parking

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $545,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,350,000
      6.5%
      $1,250,000
      7%
      $1,160,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $919,000
      Market price range: $335k - $1.08M

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.136
    Latitude
    32.7627
    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
    $17,976
    $1,300,000
    $100,000
    $1,400,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,685,000
      7,508 SF

      4434 30th St

      RETAIL STORES (PERSONAL SERVICES) • 7,508 SF
      4434 30th St, San Diego, CA 92116-4231
      View Details
    • Value Estimation
      $750,000
      0.09 Acres

      2862 Adams Ave, Unit 64

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      2862 Adams Ave, San Diego, CA 92116-1407
      View Details
    • Value Estimation
      $1,890,000
      6,062 SF

      4646 Park Blvd, Unit 48

      RETAIL STORES (PERSONAL SERVICES) • 6,062 SF
      4646 Park Blvd, San Diego, CA 92116-2631
      View Details
    • Value Estimation
      $1,630,000
      5,728 SF

      3641 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,728 SF
      3641 Madison Ave, San Diego, CA 92116-3661
      View Details
    • Value Estimation
      $1,145,000
      4,400 SF

      4584 Park Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      4584 Park Blvd, San Diego, CA 92116-2643
      View Details
    • Value Estimation
      $685,000
      15,848 SF

      4505 Park Blvd

      RETAIL STORES (PERSONAL SERVICES) • 15,848 SF
      4505 Park Blvd, San Diego, CA 92116-2780
      View Details

    Similar Nearby for Sale

    • $763,000

      North Park Commercial Retail Condo

      Boutique commercial retail condo in a vibrant, walkable location.
      4473 30Th St, San Diego, CA 92116
      View Details
    • $4,495,000
      3,360 SF

      North Park Mixed-Use Investment Property

      Rebuilt mixed-use property with restaurant and luxury boutique suites.
      2611 Adams Ave, San Diego, CA 92116
      View Details
    • $2,500,000
      3,396 SF

      San Diego Retail Auto Facility

      Retail auto repair facility with long-term tenant in San Diego.
      4491 Park Blvd, San Diego, CA 92116
      View Details
    • $1,223,000
      1,223 SF

      Modern Retail Space in Metro North

      New construction retail condo in a dynamic San Diego location.
      4473 30Th St, San Diego, CA 92116
      View Details
    • $1,223,000

      New Retail Condo in San Diego

      New construction retail condo in a dynamic San Diego location.
      4473 30Th St, San Diego, CA 92116
      View Details
    • $2,500,000

      San Diego Retail Auto Repair

      Retail auto repair facility with long-term tenant until 2030.
      4491 Park Blvd, San Diego, CA 92116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,013 SF

      North Park Cafe/Retail Space

      Prime location with outdoor patio and high visibility.
      4456 30Th St, San Diego, CA 92116
      View Details
    • Contact for pricing

      Landmark Corner Retail Opportunity

      Large-format retail space with high visibility and on-site parking.
      3650 Adams Ave, San Diego, CA 92116
      View Details
    • Contact for pricing

      Retail Space in Adams Avenue

      Established retail district with high foot traffic and neighborhood charm.
      2911 Adams Ave, San Diego, CA 92116
      View Details
    View Listing
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    San Diego, CA 92116
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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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