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

    4231 Spg St, Unit 33 La Mesa, CA 91941-7959

    • Retail space
    • 2,967 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jun 18, 2024
    $1,300,000
    Value Estimations
    $1,300,000
    Show details
    Cap Rate Potential
    3.6%
    Retail space
    Location Intelligence
    Property ID
    US09-6541039
    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

    • Mamma Mia Sicilian Deli / Grocery & Convenience Store / Food Market
    • Wilhelm Care / Big Box & Wholesale Store

    Property Details for 4231 Spg St

    Year built
    1978
    Lot size
    0.34 lot acres
    Property size
    2,967 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    499-020-30-00
    APU
    4990203000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,300,000
      ML approach
      $1,300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,677,000
      Market price range: $795k - $1.68M
      AI Estimate
      $845,000
      Market price range: $135k - $846k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,205,000
      Current use
      MEDICAL BUILDING
      $1,220,000
      Change: +1% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,135,000
      Change: -6% Conversion: Difficult
      OFFICE BUILDING
      $1,070,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.015
    Latitude
    32.756
    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
    $17,565
    $816,000
    $510,000
    $1,326,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      9410 Grossmont Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.24 Acres
      9410 Grossmont Blvd, La Mesa, CA 91941-4148
      View Details
    • Value Estimation
      $1,075,000
      6,762 SF

      9539 Grossmont Smt Dr, Unit 45

      RETAIL STORES (PERSONAL SERVICES) • 6,762 SF
      9539 Grossmont Smt Dr, La Mesa, CA 91941-4105
      View Details
    • Value Estimation
      $1,005,000
      3,326 SF

      3777 Avocado Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,326 SF
      3777 Avocado Blvd, La Mesa, CA 91941-7301
      View Details
    • Value Estimation
      $1,135,000
      3,480 SF

      9627-39 Grossmont Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,480 SF
      9627-39 Grossmont Blvd, La Mesa, CA 91941
      View Details
    • Value Estimation by Request
      2,400 SF

      3834 Massachusetts Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      3834 Massachusetts Ave, La Mesa, CA 91941-7640
      View Details
    • Value Estimation
      $2,425,000
      6,129 SF

      3663 Via Mercado

      RETAIL STORES (PERSONAL SERVICES) • 6,129 SF
      3663 Via Mercado, La Mesa, CA 91941-8316
      View Details

    Similar Nearby for Sale

    • $425,000

      Land For Sale

      Land available for sale.
      Alto Dr, La Mesa, CA 91941
      View Details
    • Contact for pricing

      Renovated Office Space in La Mesa

      Move-in ready office space with freeway access and parking.
      9633 Grossmont Summit Dr, La Mesa, CA 91941
      View Details
    • $140,000
      13,224.00 Acres

      View Lot in Mt. Helix

      View lot in Mt. Helix neighborhood, close to amenities.
      Grossmont Blvd, La Mesa, CA 91941
      View Details
    • $419,999
      0.51 Acres

      La Mesa Land with Views

      Half-acre lot in La Mesa with panoramic views.
      Echo Dr, La Mesa, CA 91941
      View Details
    • $295,000

      Land with Panoramic Mountain Views

      Two lots with utilities and perc test completed.
      4364 Mayapan Dr 24 & 50, La Mesa, CA 91941
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,428 SF

      Retail Space on Avocado Blvd

      In-line retail space available for rent in La Mesa, CA.
      3703-3773 Avocado Blvd, La Mesa, CA 91941
      View Details
    • $36 SF/Yr
      7,457 SF

      La Mesa Medical Office Space For Lease

      Prime La Mesa Office Suites - Ample Parking
      3835 Avocado Blvd, La Mesa, CA 91941
      View Details
    • Contact for pricing
      200 SF

      Turn-Key Office Suites Available

      Turn-key office suites with shared reception and waiting area.
      3855 Avocado Blvd, La Mesa, CA 91941
      View Details

    Property Visit Statistics

    • Visits by month
      16.3k
    • Visitors by month
      15.5k
    • Avg Time on site
      47 min
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    La Mesa, CA 91941-7959
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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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