Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    606 3rd Ave San Diego, CA 92101-6834

    • Apartment buildings
    • 9,999 SF
    • 1.36 lot acres
    OFF-MARKET
    Value Estimations
    $4,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8888761
    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

    • TeaLynn / Legal Services
    • Market Street Square / Apartment Building
    • Wecan Agency / Website Designer
    • Capi cuts / Barber Shop
    • FAM Construction / Construction Company

    Property Details for 606 3rd Ave

    Year built
    1987
    Lot size
    1.36 lot acres
    Property size
    9,999 SF
    Zone code
    COMMERCIAL
    Property type
    Apartment buildings
    APN
    535-064-16-00
    APU
    5350641600

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,575,000
      Current use
      RETAIL STORES
      $6,290,000
      Change: +37% Conversion: Difficult
      MEDICAL BUILDING
      $5,820,000
      Change: +27% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $4,020,000
      Change: -12% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,855,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.162
    Latitude
    32.712
    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
    $548,044
    $20,890,545
    $20,890,545
    $41,781,090
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      50,000 SF

      635-641 C St

      Multifamily properties • 50,000 SF
      635-641 C St, San Diego, CA 92101
      View Details
    • Value Estimation by Request
      0.22 Acres

      1169 8th Ave

      APARTMENT HOUSE (5+ UNITS) • 0.22 Acres
      1169 8th Ave, San Diego, CA 92101
      View Details
    • Value Estimation by Request
      0.09 Acres

      1220 Olive St

      APARTMENT HOUSE (5+ UNITS) • 0.09 Acres
      1220 Olive St, San Diego, CA 92101-1255
      View Details
    • Value Estimation
      $710,000
      5,890 SF

      2265 Curlew St, Unit 71

      APARTMENT HOUSE (5+ UNITS) • 5,890 SF
      2265 Curlew St, San Diego, CA 92101-1849
      View Details
    • Value Estimation
      $1,310,000
      8,336 SF

      105 Hawthorn St, Unit 17

      APARTMENT HOUSE (5+ UNITS) • 8,336 SF
      105 Hawthorn St, San Diego, CA 92101-2007
      View Details
    • Value Estimation
      $1,360,000
      8,624 SF

      228 Juniper St, Unit 48

      APARTMENT HOUSE (5+ UNITS) • 8,624 SF
      228 Juniper St, San Diego, CA 92101-1550
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,463 SF

      Cortez Hill Development Opportunity

      Prime San Diego multifamily redevelopment site.
      1620 8Th Ave, San Diego, CA 92101
      View Details
    • $396,000

      Luxury Condo with Large Balcony

      Turnkey condo in luxury building, close to the water.
      1262 Kettner Blvd, San Diego, CA 92101
      View Details
    • $3,150,000

      Renovated Six-Unit Bankers Hill Property

      Recently renovated six-unit property in San Diego's Bankers Hill.
      2264 5Th Ave, San Diego, CA 92101
      View Details
    • $4,290,000
      10,980 SF

      Downtown San Diego SRO

      34-unit apartment building, high ROI.
      1468 1St Ave, San Diego, CA 92101
      View Details
    • $13,950,000
      50,000 SF

      Trolley Lofts: San Diego Multifamily

      Downtown San Diego apartment building, value-add opportunity.
      635-641 C St, San Diego, CA 92101
      View Details
    • $529,900

      Downtown San Diego Icon Condo

      Condo in the Icon Building with views and amenities.
      350 11Th Ave, San Diego, CA 92101
      View Details

    Similar Nearby for Lease

    • $8,500 /Mo

      Luxury Penthouse with Panoramic Views

      Spacious penthouse with stunning views and luxury amenities.
      1205 Pacific Hwy, San Diego, CA 92101
      View Details
    • $45 SF/Yr
      4,300 SF

      Gaslamp District Restaurant Space For Lease

      Prime location, two bars, shared kitchen, Type 47 license.
      905 4Th Ave, San Diego, CA 92101
      View Details
    • $47 SF/Yr
      686 SF

      San Diego Creative Office Suite

      Move-in ready, ±686 SF, prime location.
      332 J St, San Diego, CA 92101
      View Details
    • $16 SF/Yr
      55,586 SF

      Wonder Bread Building: San Diego Office Space

      Historic San Diego office building, flexible spaces available.
      171 14Th St, San Diego, CA 92101
      View Details
    • Contact for pricing
      156,000 SF

      Downtown San Diego Office Space

      Class A Office Suites Available Now
      8th St, San Diego, CA 92101
      View Details
    • $1.60 SF/Yr
      160,700 SF

      Restaurant Ready Retail Space

      Retail property with restaurant improvements available for lease.
      1025 W Laurel St, San Diego, CA 92101
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    606 3rd Ave
    San Diego, CA 92101-6834
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.