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    Property profile & analytics

    7938 Broadway Lemon Grove, CA 91945-1808

    • Retail space
    • 11,420 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $2,780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9587613
    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

    • Appliance Repair Lemon Grove / Home Appliance Store
    • United States Postal Service / Post Office / Logistics Service
    • Automatic Entry Solutions Inc / Production Facility
    • San Diego Drywall / Construction Company
    • Lemon Grove HVAC / HVAC Service / General Contractor

    Property Details for 7938 Broadway

    Year built
    1968
    Lot size
    0.63 lot acres
    Property size
    11,420 SF
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    480-111-33-00
    APU
    4801113300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,820,000
      Market price range: $2.28M - $5.30M
      AI Estimate
      $1,740,000
      Market price range: $838k - $2.76M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,820,000
      Current use
      AUTO REPAIR, GARAGE
      $4,360,000
      Change: +14% Conversion: Difficult
      OFFICE BUILDING
      $4,120,000
      Change: +8% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $3,595,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemon Grove
    County
    San Diego
    State
    California
    Longitude
    -117.028
    Latitude
    32.7433
    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
    2023
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.31 Acres

      7385 Broadway

      STORE, RETAIL OUTLET • 0.31 Acres
      7385 Broadway, Lemon Grove, CA 91945-1546
      View Details
    • Value Estimation by Request
      0.09 Acres

      7874 Broadway, Unit 76

      STORE, RETAIL OUTLET • 0.09 Acres
      7874 Broadway, Lemon Grove, CA 91945-1801
      View Details
    • Value Estimation by Request
      0.20 Acres

      8105 Lemon Grv Way

      STORE, RETAIL OUTLET • 0.20 Acres
      8105 Lemon Grv Way, Lemon Grove, CA 91945-1921
      View Details
    • Value Estimation
      $5,365,000
      40,033 SF

      1801 Massachusetts Ave, Unit 27

      RETAIL STORES (PERSONAL SERVICES) • 40,033 SF
      1801 Massachusetts Ave, Lemon Grove, CA 91945-3926
      View Details
    • Value Estimation
      $2,300,000
      17,128 SF

      7963 Broadway, Unit 77

      RETAIL STORES (PERSONAL SERVICES) • 17,128 SF
      7963 Broadway, Lemon Grove, CA 91945-1809
      View Details
    • Value Estimation
      $535,000
      2,400 SF

      7607 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      7607 Broadway, Lemon Grove, CA 91945-1607
      View Details

    Similar Nearby for Sale

    • $3,990,000
      4,700 SF

      Lemon Grove Mixed-Use Investment

      Prime location, high ROI potential.
      7968-70 Broadway, Lemon Grove, CA 91945
      View Details
    • Contact for pricing

      Retail Center Near Highway 94

      Retail center with highway proximity and strong demographics.
      7663-7695 Broadway, Lemon Grove, CA 91945
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    • $3,475,000

      Lemon Grove Commercial Land

      Commercial land available in Lemon Grove, California.
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      View Details
    • $1,300,000

      Four Units on Large Lot

      Four large 2-bedroom units on over half acre lot.
      8050 Lemon Grove Way, Lemon Grove, CA 91945
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    • $1,400,000
      Pending

      Cash Flowing Triplex with Upgrades

      Well-maintained triplex with upgrades, cash flow, and expansion potential.
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    • $1,199,000
      Pending

      Land For Sale

      Land available for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Lemon Grove Retail Space Available

      Retail space for rent in Lemon Grove, California.
      8075 Broadway, Lemon Grove, CA 91945
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    • Contact for pricing
      18,036 SF

      Lemon Grove Retail Space Available

      Retail space available for rent in Lemon Grove, CA.
      3275 Lemon Grove Ave, Lemon Grove, CA 91945
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    • Contact for pricing
      11,637 SF

      Retail Space for Lease

      Retail space available for lease in Lemon Grove, CA.
      3205 Lemon Grove Ave, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      1,156 SF

      Retail Space in Mixed-Use Development

      Retail space available for lease in Lemon Grove, California.
      7950 Broadway, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      821 SF

      Retail Space in Lemon Grove

      Retail spaces available in a high-traffic, mixed-use property.
      8016-8028 Broadway Ln, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      1,020 SF

      Lemon Grove Retail Center

      Prime Retail Space Available Now
      8053 Broadway, Lemon Grove, CA 91945
      View Details
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    7938 Broadway
    Lemon Grove, CA 91945-1808
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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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