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    5555 Reservoir Dr San Diego, CA 92120

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    5555 Reservoir Dr San Diego, CA 92120

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    • Medical Office Space
    • 56,092 SF
    • 3.29 lot acres
    For Lease
    $28 SF/Yr
    View Listing →
    Medical Office Space Available For Lease
    $28 SF/Yr
    600 SF

    Medical Office Space Available

    Medical office space for rent near Alvarado Hospital.

    5555 Reservoir Dr, San Diego, CA
    View Listing
    Property ID
    US09-6614784
    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

    • Alvarado Hospital Medical Pharmacy / Pharmacy
    • Institute of HealthCare Assessment, Inc. / Research And Product Development / Medical Office
    • San Diego Clinical Trials / Medical Clinic
    • San Diego Sexual Medicine / Medical Clinic
    • Rose Hartzell / Marriage Or Relationship Counselor

    Property Details for 5555 Reservoir Dr

    Year built
    1979
    Lot size
    3.29 lot acres
    Property size
    56,092 SF
    Zone code
    COMMERCIAL
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    463-600-19-00
    APU
    4636001900

    Description

    Alvarado Medical Plaza I, located at 5555 Reservoir Drive in San Diego, CA 92120, offers exceptional medical office space within San Diego County. This multi-tenant building, constructed in 1979, boasts a total of 55,990 square feet. Currently, there are 24,316 square feet of vacant space available, offering flexible options for medical practices of various sizes. Units range from a minimum of 1,067 square feet to a maximum contiguous space of 12,158 square feet, catering to a wide spectrum of needs. The property's convenient location provides easy access for patients and staff alike. Its classification as a medical office building ensures compliance with relevant regulations and provides a professional environment. The building's substantial size and available space present a unique opportunity for expansion or relocation for established medical practices, or a chance for new ventures to establish a strong presence in the San Diego market. This is an excellent opportunity to secure prime medical office space in a thriving San Diego location. The property is situated in San Diego County and offers immediate occupancy for qualified tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.056
    Latitude
    32.7758
    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
    $107,926
    $4,206,391
    $4,554,920
    $8,761,311
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,120,000
      4,361 SF

      6310 Alvarado Ct

      MEDICAL BUILDING • 4,361 SF
      6310 Alvarado Ct, San Diego, CA 92120-4902
      View Details
    • Value Estimation by Request
      2,108 SF

      4329 Twain Ave

      MEDICAL BUILDING • 2,108 SF
      4329 Twain Ave, San Diego, CA 92120-3403
      View Details
    • Value Estimation
      $7,350,000
      47,327 SF

      6386 Alvarado Ct

      MEDICAL BUILDING • 47,327 SF
      6386 Alvarado Ct, San Diego, CA 92120-4905
      View Details
    • Value Estimation
      $9,505,000
      58,829 SF

      6699 Alvarado Rd

      MEDICAL BUILDING • 58,829 SF
      6699 Alvarado Rd, San Diego, CA 92120-5244
      View Details
    • Value Estimation
      $6,465,000
      31,356 SF

      6367 Alvarado Ct

      MEDICAL BUILDING • 31,356 SF
      6367 Alvarado Ct, San Diego, CA 92120-4904
      View Details
    • Value Estimation
      $2,595,000
      16,436 SF

      6330 Alvarado Ct

      MEDICAL BUILDING • 16,436 SF
      6330 Alvarado Ct, San Diego, CA 92120-4912
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      600 SF

      Medical Office Space Available

      Medical office space for rent near Alvarado Hospital.
      5555 Reservoir Dr, San Diego, CA 92120
      View Details
    • Contact for pricing
      3,398 SF

      Medical Office Space Available

      Medical office space for rent with tenant signage available.
      6719 Alvarado Rd, San Diego, CA 92120
      View Details
    • Contact for pricing
      1,724 SF

      Medical Office Space Available

      Medical office space for rent near Alvarado Hospital.
      6699 Alvarado Rd, San Diego, CA 92120
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space available for lease in San Diego, CA.
      6699 Alvarado Rd, San Diego, CA 92120
      View Details
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      2,102 SF

      San Diego Office Space Available

      2103 square feet of office space for rent.
      6310 Alvarado Ct, San Diego, CA 92120
      View Details
    • Contact for pricing

      Central San Diego Flex Space

      Flex, industrial, office, and retail space in central San Diego.
      Mission Gorge Pl, San Diego, CA 92120
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    View Listing
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    San Diego, CA 92120
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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.

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    5555 Reservoir Dr, San Diego, CA, 92120

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