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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8240 Pkwy Dr La Mesa, CA 91942-2451

    • Warehouses
    • 1,200 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $400,000
    Show details
    Cap Rate Potential
    4.1%
    Warehouses
    Location Intelligence
    Property ID
    US09-1097969
    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

    • Merlin Embroidery / Embroidery Shop / Screen Printer
    • San Diego Outdoorsman / Outdoor Clothing And Equipment Shop / Sportswear Store
    • Glow Tea Skin Care LLC / Spa / Service Establishment
    • Akel Business Services / Accountant
    • Smacna / Non-Profit Organization

    Property Details for 8240 Pkwy Dr

    Year built
    1978
    Lot size
    0.31 lot acres
    Property size
    1,200 SF
    Zone code
    INDUSTRIAL (M ZONE)
    Property type
    Warehouses
    APN
    490-591-14-00
    APU
    4905911400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $280,000
      6.5%
      $255,000
      7%
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $533,000
      Market price range: $209k - $533k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $340,000
      Current use
      RETAIL STORES
      $500,000
      Change: +47% Conversion: Moderate
      MEDICAL BUILDING
      $495,000
      Change: +45% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $460,000
      Change: +35% Conversion: Easy
      OFFICE BUILDING
      $435,000
      Change: +27% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.02
    Latitude
    32.7769
    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
    2016
    $5,580
    $421,328
    $25,381
    $446,709
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $310,000
      0.08 Acres

      5171 Guild St

      WAREHOUSE, STORAGE • 0.08 Acres
      5171 Guild St, La Mesa, CA 91942-2933
      View Details
    • Value Estimation
      $290,000
      0.23 Acres

      4811 Spg St

      WAREHOUSE, STORAGE • 0.23 Acres
      4811 Spg St, La Mesa, CA 91942-9319
      View Details
    • Value Estimation
      $290,000
      0.15 Acres

      8159 Commercial St, Unit 61

      WAREHOUSE, STORAGE • 0.15 Acres
      8159 Commercial St, La Mesa, CA 91942-2928
      View Details
    • Value Estimation
      $545,000
      8,100 SF

      7371 Mohawk St, Unit 73

      WAREHOUSE, STORAGE • 8,100 SF
      7371 Mohawk St, La Mesa, CA 91942-7403
      View Details
    • Value Estimation
      $455,000
      9,999 SF

      4981 Spg St

      BULK STORAGE, TANKS • 9,999 SF
      4981 Spg St, La Mesa, CA 91942-5566
      View Details
    • Value Estimation
      $350,000
      4,000 SF

      8834 La Mesa Blvd

      WAREHOUSE, STORAGE • 4,000 SF
      8834 La Mesa Blvd, La Mesa, CA 91942-5407
      View Details

    Similar Nearby for Sale

    • $7,085,010
      2,813 SF

      Chevron and Soapy Joe's

      NNN Ground Lease Chevron and Soapy Joe’s Car Wash.
      5322 Jackson Dr, La Mesa, CA 91942
      View Details
    • $6,950,000
      10,000 SF

      La Mesa Medical Office Building

      Prime Medical Office, I-8 Visibility
      7051 Alvarado Rd, La Mesa, CA 91942
      View Details
    • $2,295,000

      La Mesa Multifamily with ADU Potential

      Stabilized, renovated multifamily property with ADU potential in La Mesa.
      5590 Shasta Ln, La Mesa, CA 91942
      View Details
    • $934,500

      La Mesa Duplex with Garages

      Charming La Mesa duplex with private yards and garages.
      6161 Horton Dr, La Mesa, CA 91942
      View Details
    • $990,000

      La Mesa Duplex Investment Property

      Well-maintained La Mesa duplex with updated units and stable tenants.
      6090 Severin Dr, La Mesa, CA 91942
      View Details
    • $999,000

      Multifamily Property with Development Potential

      Investment opportunity: one house plus three units on large lot.
      7105 Amherst St, La Mesa, CA 91942
      View Details

    Similar Nearby for Lease

    • $15,269 /Mo

      Retail Showroom and Warehouse Space

      Retail showroom and warehouse with easy freeway access available for lease.
      7575 University Ave, La Mesa, CA 91942
      View Details
    • $19,750 /Mo
      4,000 SF

      La Mesa Office/Warehouse Building

      4,000 SF office/warehouse with high-end improvements and fenced lot.
      8384 Hercules St, La Mesa, CA 91942
      View Details
    • $24 SF/Yr
      9,000 SF

      Center Glass Office Building, La Mesa

      9,000 SF Office Building, 538 SF Available
      7853 El Cajon Blvd, La Mesa, CA 91942
      View Details
    • $27 SF/Yr
      8,446 SF

      Prime La Mesa Executive Office Space

      8,446 SF Office Building, Suites Available
      5555 Jackson Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing
      26,858 SF

      La Mesa Medical Office Suite H

      Prime Medical Office Space in La Mesa
      7339 El Cajon Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,100 SF

      La Mesa Office Space Available

      Office space available for rent in La Mesa, California.
      8911 La Mesa Blvd, La Mesa, CA 91942
      View Details

    Property Visit Statistics

    • Visits by month
      13.6k
    • Visitors by month
      10.6k
    • Avg Time on site
      29 min
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    La Mesa, CA 91942-2451
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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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