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    Property profile & analytics

    5520 Wellesley St La Mesa, CA 91942

    • Medical offices
    • 29,103 SF
    • 0.63 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Last Sale
    Nov 09, 2023
    $4,500,000
    Value Estimations
    $5,810,000
    Cap Rate Potential
    9.5%
    Medical offices
    Location Intelligence
    Property ID
    US09-9261283
    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

    • Pleasants Karlyn M / Psychologist
    • Farmers Insurance - Kristine Avram / Insurance Agency / Auto Insurance Agency
    • Covered California Certified Agent / Health Insurance Agency
    • Brown & Farmer / Attorney
    • Counseling & Behavior Specialists / Family Counselor / Marriage Or Relationship Counselor

    Property Details for 5520 Wellesley St

    Year built
    1988
    Lot size
    0.63 lot acres
    Property size
    29,103 SF
    Zone code
    COMMERCIAL
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    464-271-73-00
    APU
    4642717300

    Description

    This exceptional office property, located at 5520 Wellesley Street in La Mesa, California, 91942, presents a unique leasing opportunity. The building, constructed in 1988, offers a total of 29,103 square feet across two stories within a single building. Currently, 3,531 square feet of space is available for lease, ideal for a variety of business needs. The property is classified as Class C and is zoned C, allowing for diverse commercial uses. The building boasts ample parking with 32 spaces available for tenants and their clients. The property's location within the La Mesa submarket provides convenient access to local amenities and transportation networks. This is a multi-tenant building, offering a collaborative and dynamic work environment. The available space is perfect for businesses seeking a well-established location with convenient parking and a functional layout. The property's executive and traditional office subtypes cater to a wide range of business sizes and preferences. This is an excellent opportunity to secure a prominent office space in a thriving La Mesa community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,760,000
      ML approach
      $5,490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,670,000
      6.5%
      $7,080,000
      7%
      $6,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,604,000
      Market price range: $4.69M - $16.2M

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

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.033
    Latitude
    32.78
    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
    $54,848
    $1,900,000
    $2,600,000
    $4,500,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,845,000
      25,916 SF

      8530 La Mesa Blvd

      MEDICAL BUILDING • 25,916 SF
      8530 La Mesa Blvd, La Mesa, CA 91942-0966
      View Details
    • Value Estimation
      $1,810,000
      92,988 SF

      8881 Fletcher Pkwy

      MEDICAL BUILDING • 92,988 SF
      8881 Fletcher Pkwy, La Mesa, CA 91942-3134
      View Details
    • Value Estimation
      $1,890,000
      4,298 SF

      8600 La Mesa Blvd

      MEDICAL BUILDING • 4,298 SF
      8600 La Mesa Blvd, La Mesa, CA 91942-9572
      View Details
    • Value Estimation
      $710,000
      7,213 SF

      5308 Lk Murray Blvd

      MEDICAL BUILDING • 7,213 SF
      5308 Lk Murray Blvd, La Mesa, CA 91942-1334
      View Details
    • Value Estimation
      $485,000
      1,944 SF

      8126 Ctr St

      MEDICAL BUILDING • 1,944 SF
      8126 Ctr St, La Mesa, CA 91942-2914
      View Details
    • Value Estimation
      $365,000
      1,344 SF

      7134 University Ave

      MEDICAL BUILDING • 1,344 SF
      7134 University Ave, La Mesa, CA 91942-5926
      View Details

    Similar Nearby for Sale

    • $6,950,000
      10,000 SF

      La Mesa Medical Office Building

      Prime Medical Office, I-8 Visibility
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    • $2,300,000
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      La Mesa Office/Retail Building

      Office/retail building available for sale in La Mesa, CA.
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      Chevron and Soapy Joe's

      NNN Ground Lease Chevron and Soapy Joe’s Car Wash.
      5322 Jackson Dr, La Mesa, CA 91942
      View Details
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      61,058 SF

      Entitled Land for Mixed-Use Development

      1.4 acre land with entitlements for mixed-use development.
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      View Details
    • $4,500,000

      Value-Add 12-Unit Apartment Homes

      Cottage-style apartment homes with private yards in strong rental market.
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      La Mesa Fourplex Investment Opportunity

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    Similar Nearby for Lease

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      La Mesa Medical Office Suite H

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      View Details
    • $1.95 SF/Yr
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      La Mesa Retail/Medical Space

      Retail or medical space featuring treatment rooms and reception area.
      8702-8716 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      3,343 SF

      Medical Suite for Lease

      Medical suite available for lease in La Mesa, California.
      8860 Center Dr, La Mesa, CA 91942
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      Boutique Medical Office Space

      Medical office space with pristine finishes and high-end aesthetics.
      5200 Lake Murray Blvd, La Mesa, CA 91942
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      La Mesa Office Property

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      Lake Park Plaza Executive Suites

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      View Details
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    La Mesa, CA 91942
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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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