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

    3008 Shelby Dr National City, CA 91950

    • Commercial real estate
    • 1,425 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9551444
    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

    • Commercial real estate

    Property Details for 3008 Shelby Dr

    Year built
    1945
    Property size
    1,425 SF
    Property type
    Commercial real estate
    APN
    563-184-05-00

    Description

    This National City, California duplex presents a compelling investment opportunity. Located at 3008 Shelby Dr, 91950, this 1945-built, 1-story, 1,425 square foot apartment building offers two 2BR/1BA units, each with a private yard. The rear unit boasts a recently completed renovation, including a modernized kitchen and bathroom, in-unit laundry, upgraded flooring, can lighting, and designer finishes. This unit also features access to a spacious backyard with a pergola and deck, offering panoramic views. The front unit features a sizable fenced yard, presenting potential for rental income growth. Recent upgrades include a new roof, electrical upgrades, fresh paint, and drought-tolerant landscaping. Both units are separately metered for water and electricity. The property sits on a large lot, potentially allowing for an Accessory Dwelling Unit (ADU). Off-street parking is available. The property's strong financial performance is highlighted by a 4.57% cap rate, 100% occupancy, and a net operating income (NOI) of $41,112. The asking price is $899,000, with a price per unit of $449,500 and a price per square foot of $630.88. This property offers significant upside potential in rental income. The property's APN is 563-184-05-00.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    National City
    County
    San Diego
    State
    California
    Longitude
    -117.0766458
    Latitude
    32.6634122

    Comparable in this City

    • $2,600,000

      Renovated 10-Unit Apartment Complex

      Fully renovated 10-unit apartment complex with strong cash flow.
      1227 Coolidge Ave, National City, CA 91950
      View Details
    • New
      $1,050,000
      Pending

      Two Homes on One Lot

      Two updated homes on one lot, great for investors.
      415-417 26Th St, National City, CA 91950
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    • $1,300,000

      National City Fourplex Near Mile

      Fourplex near Mile of Cars with redevelopment potential.
      2722 B Ave, National City, CA 91950
      View Details
    • $949,000

      National City Triplex Investment Opportunity

      Triplex near National City Building, close to Navy Base.
      406 E Plaza Blvd, National City, CA 91950
      View Details
    • $895,000
      1,008 SF

      National City Multifamily Investment Opportunity

      Multifamily property with detached unit, ideal for owner-occupancy.
      2016 E 10Th St, National City, CA 91950
      View Details

    Similar Nearby for Sale

    • $2,600,000

      Renovated 10-Unit Apartment Complex

      Fully renovated 10-unit apartment complex with strong cash flow.
      1227 Coolidge Ave, National City, CA 91950
      View Details
    • $1,300,000

      National City Fourplex Near Mile

      Fourplex near Mile of Cars with redevelopment potential.
      2722 B Ave, National City, CA 91950
      View Details
    • New
      $1,050,000
      Pending

      Two Homes on One Lot

      Two updated homes on one lot, great for investors.
      415-417 26Th St, National City, CA 91950
      View Details
    • $895,000
      1,008 SF

      National City Multifamily Investment Opportunity

      Multifamily property with detached unit, ideal for owner-occupancy.
      2016 E 10Th St, National City, CA 91950
      View Details
    • $949,000

      National City Triplex Investment Opportunity

      Triplex near National City Building, close to Navy Base.
      406 E Plaza Blvd, National City, CA 91950
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Plaza Square Medical & Office Suites

      National City, CA: Two Suites Available
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    • Contact for pricing
      54,605 SF

      Industrial Building with GL Doors

      54,605 SF industrial building featuring four grade-level doors.
      1645 Tidelands Ave, National City, CA 91950
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      1,400 SF

      Retail Space in National City

      Neighborhood retail center with excellent visibility in a populated area.
      4-36 N Euclid Ave, National City, CA 91950
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    • Contact for pricing
      23,721 SF

      Office/R&D Building Near Interstate 5

      190,000 SF office/R&D building near Interstate 5.
      401 Mile Of Cars Way, National City, CA 91950
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    • $19 SF/Yr
      4,944 SF

      National City Warehouse Space Available

      Warehouse space with office and roll-up door for lease.
      408 W 8Th St, National City, CA 91950
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    • $1.75 SF/Yr
      2,318 SF

      Industrial Space For Rent

      2,318 SF industrial space available for rent.
      1535 Tidelands Ave, National City, CA 91950
      View Details
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    3008 Shelby Dr
    National City, CA 91950
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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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