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    3535 Lebon Dr San Diego, CA 92122-4593
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    3535 Lebon Dr San Diego, CA 92122-4593

    View on Map
    • Apartment buildings
    • 9,999 SF
    • 4.28 lot acres
    Off-Market
    Property ID
    US09-9623114
    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
    $2,105,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • La Jolla Palms Apartment Homes / Furnished Apartment Building / Housing Complex
    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • Pacific Machine Tools LLC / Industrial Manufacturer / Production Facility

    Property Details for 3535 Lebon Dr

    Year built
    2001
    Lot size
    4.28 lot acres
    Property size
    9,999 SF
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    345-120-17-00
    APU
    3451201700

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,755,000
      6.5%
      $2,545,000
      7%
      $2,360,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,330,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.223
    Latitude
    32.8698
    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
    $717,566
    $12,674,464
    $45,557,890
    $58,232,354
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.13 Acres

      5841 Gullstrand St, Unit 5967

      APARTMENT HOUSE (5+ UNITS) • 3.13 Acres
      5841 Gullstrand St, San Diego, CA 92122-3817
      View Details
    • Value Estimation by Request
      4.07 Acres

      3899 Nobel Dr

      APARTMENT HOUSE (5+ UNITS) • 4.07 Acres
      3899 Nobel Dr, San Diego, CA 92122-5757
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    • Value Estimation by Request
      3.72 Acres

      8465 Regents Rd

      APARTMENT HOUSE (5+ UNITS) • 3.72 Acres
      8465 Regents Rd, San Diego, CA 92122-1360
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    • Value Estimation by Request
      1.24 Acres

      4195 La Jolla Vlg Dr

      APARTMENT HOUSE (5+ UNITS) • 1.24 Acres
      4195 La Jolla Vlg Dr, San Diego, CA 92122
      View Details
    • Value Estimation
      $2,125,000
      9,999 SF

      9110 Judicial Dr, Unit 20

      APARTMENT HOUSE (5+ UNITS) • 9,999 SF
      9110 Judicial Dr, San Diego, CA 92122-6711
      View Details
    • Value Estimation
      $2,155,000
      9,999 SF

      3415 Lebon Dr, Unit 65

      APARTMENT HOUSE (5+ UNITS) • 9,999 SF
      3415 Lebon Dr, San Diego, CA 92122-5218
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      San Diego Shopping Center For Rent

      78,185 SF shopping center anchored by Vons and Rite-Aid.
      3939 Governor Dr, San Diego, CA 92122
      View Details
    • Contact for pricing
      5,587 SF

      Available Office Space in San Diego

      Office space available for rent in San Diego, California.
      5060 Shoreham Pl, San Diego, CA 92122
      View Details
    • Contact for pricing
      2,944 SF

      Office Space Available For Rent

      Office space available for rent in San Diego, CA.
      6310 Greenwich Dr, San Diego, CA 92122
      View Details
    • Contact for pricing
      880 SF

      Neighborhood Shopping Center Retail Space

      Retail space available in established neighborhood shopping center.
      3202 Governor Dr, San Diego, CA 92122
      View Details
    • Contact for pricing
      1,484 SF

      La Jolla Office Space Available

      Office space for rent in La Jolla, California.
      4120-4130 La Jolla Village Dr, San Diego, CA 92122
      View Details
    • Contact for pricing
      917 SF

      Retail Space Near CVS Pharmacy

      Retail space anchored by CVS Pharmacy with high foot traffic.
      8915 Towne Centre Dr, San Diego, CA 92122
      View Details
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    3535 Lebon Dr
    San Diego, CA 92122-4593
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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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