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    659 Palomar St Chula Vista, CA 91911-6974

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    659 Palomar St Chula Vista, CA 91911-6974

    View on Map
    • Strip malls
    • 57,541 SF
    • 5.48 lot acres
    Off-Market
    Last Sale Mar 12, 2020
    $21,150,000
    Property ID
    US09-6711036
    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
    $17,130,000
    Show details
    Cap Rate Potential
    3.5%
    Strip malls
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • Ralphs Pharmacy / Pharmacy
    • Primo Water Refill & Exchange / Big Box & Wholesale Store
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • higi / Physician

    Property Details for 659 Palomar St

    Year built
    2001
    Lot size
    5.48 lot acres
    Property size
    57,541 SF
    Zone code
    COMMERCIAL
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    641-122-14-00
    APU
    6411221400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $10,430,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,325,000
      6.5%
      $15,990,000
      7%
      $14,850,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chula Vista
    County
    San Diego
    State
    California
    Longitude
    -117.025
    Latitude
    32.6157
    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
    $160,558
    $4,176,195
    $6,770,500
    $10,946,695
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $10,905,000
      11,100 SF

      1344 3rd Ave, Unit 72

      SHOPPING CENTER, STRIP CENTER • 11,100 SF
      1344 3rd Ave, Chula Vista, CA 91911-4303
      View Details
    • Value Estimation
      $625,000
      1.14 Acres

      263 Orange Ave, Unit 71

      SHOPPING CENTER, STRIP CENTER • 1.14 Acres
      263 Orange Ave, Chula Vista, CA 91911-4903
      View Details
    • Value Estimation
      $1,640,000
      12,557 SF

      11 Naples St, Unit 25

      SHOPPING CENTER, STRIP CENTER • 12,557 SF
      11 Naples St, Chula Vista, CA 91911-2205
      View Details
    • Value Estimation
      $5,030,000
      38,316 SF

      651 Palomar St

      SHOPPING CENTER, STRIP CENTER • 38,316 SF
      651 Palomar St, Chula Vista, CA 91911-2790
      View Details
    • Value Estimation
      $3,585,000
      25,139 SF

      1285 Broadway

      SHOPPING CENTER, STRIP CENTER • 25,139 SF
      1285 Broadway, Chula Vista, CA 91911-2981
      View Details
    • Value Estimation
      $8,465,000
      65,926 SF

      1058 3rd Ave, Unit 90

      SHOPPING CENTER, STRIP CENTER • 65,926 SF
      1058 3rd Ave, Chula Vista, CA 91911-2009
      View Details

    Similar Nearby for Sale

    • $1,200,000
      2,569 SF

      Established Car Wash Business Opportunity

      Mr. Car Wash sublease opportunity in high-traffic location.
      1137 Broadway, Chula Vista, CA 91911
      View Details
    • $120,000
      500 SF

      Turn-Key Restaurant Asset Sale

      Restaurant asset sale in a busy commercial area.
      1067 Broadway Suit 102, Chula Vista, CA 91911
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    • Contact for pricing
      2,395 SF

      Retail Space For Sale

      Retail space available, 2,395 SqFt, 4.25% CAP rate.
      738 Main St, Chula Vista, CA 91911
      View Details
    • Contact for pricing
      500 SF

      Retail Space with On-Site Parking

      Retail space featuring on-site parking and excellent accessibility.
      1067-1071 Broadway, Chula Vista, CA 91911
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Lease

      Retail spaces available from 1,431 SF to 3,076 SF.
      876-882 Broadway, Chula Vista, CA 91911
      View Details
    • Contact for pricing
      3,891 SF

      Retail Space in Chula Vista

      Dominant retail center with excellent tenant lineup and high exposure.
      1315 3Rd Ave, Chula Vista, CA 91911
      View Details
    • Contact for pricing

      Retail Space in Chula Vista

      356,340 SF community center at Broadway and Naples Street.
      1130 Broadway, Chula Vista, CA 91911
      View Details
    • Contact for pricing
      2,024 SF

      Retail Space in Chula Vista

      Retail space available in a busy Chula Vista location.
      1090 3Rd Ave, Chula Vista, CA 91911
      View Details
    • Contact for pricing
      26,129 SF

      Broadway Pointe Retail Center

      Chula Vista retail space available.
      1177 Broadway, Chula Vista, CA 91911
      View Details
    • Contact for pricing

      Retail Spaces Available For Lease

      Former K-Mart retail spaces available from 3,200 to 27,364 sq. ft.
      3rd Ave & Moss St, Chula Vista, CA 91911
      View Details
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    659 Palomar St
    Chula Vista, CA 91911-6974
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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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