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    Property profile & analytics

    8911 La Mesa Blvd La Mesa, CA 91942

    • Retail space
    • 13,978 SF
    • 0.61 lot acres
    For Lease
    View listing
    Last Sale
    Jan 16, 2024
    $3,900,000
    Value Estimations
    $3,900,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9160633
    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

    • Johnston Accountancy / Bookkeeping Service
    • Farmers Insurance - John Nham / Auto Insurance Agency / Home Insurance Agency
    • Farmers Insurance - Amber Griffith / Insurance Agency / Auto Insurance Agency
    • Farmers Insurance - Elizabeth Schejola / Insurance Agency / Auto Insurance Agency
    • Farmers Insurance - Marcela Arana / Insurance Agency / Auto Insurance Agency

    Property Details for 8911 La Mesa Blvd

    Year built
    1989
    Lot size
    0.61 lot acres
    Property size
    13,978 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    490-472-26-00
    APU
    4904722600

    Description

    This exceptional medical office building, located at 8911 La Mesa Boulevard in La Mesa, California, offers a fantastic opportunity for medical professionals seeking flexible and well-appointed space. The property boasts a total of 2,665 square feet, with multiple suites available for lease. Two spaces are currently available, ranging from a minimum of 756 square feet to a maximum contiguous space of 1,100 square feet. A significant 1,856 square feet is currently vacant, providing ample opportunity for expansion or consolidation. The building is classified as both Medical and Professional Office space, making it suitable for a variety of healthcare practices. Convenient on-site parking is provided for tenants and their clients. The property is situated in San Diego County, zip code 91942, offering easy access to major transportation routes and a thriving local community. This is an ideal location for establishing or expanding a medical practice, benefiting from high visibility and convenient access for patients. The building's design and layout are well-suited to the needs of medical professionals, ensuring a comfortable and efficient work environment. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,900,000
      ML approach
      $3,900,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,660,000
      6.5%
      $3,380,000
      7%
      $3,135,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,744,000
      Market price range: $3.74M - $8.26M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,825,000
      Current use
      MEDICAL BUILDING
      $5,755,000
      Change: -1% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,335,000
      Change: -8% Conversion: Difficult
      OFFICE BUILDING
      $5,040,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.004
    Latitude
    32.7737
    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
    $26,261
    $877,818
    $1,125,258
    $2,003,076
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.64 Acres

      5349 Jackson Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.64 Acres
      5349 Jackson Dr, La Mesa, CA 91942-3039
      View Details
    • Value Estimation by Request
      0.48 Acres

      5540 Lk Murray Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.48 Acres
      5540 Lk Murray Blvd, La Mesa, CA 91942-4204
      View Details
    • Value Estimation by Request
      2.25 Acres

      8308 Pkwy Dr, Unit 96

      RETAIL STORES (PERSONAL SERVICES) • 2.25 Acres
      8308 Pkwy Dr, La Mesa, CA 91942-2893
      View Details
    • Value Estimation by Request
      0.17 Acres

      7200 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.17 Acres
      7200 University Ave, La Mesa, CA 91942-5928
      View Details
    • Value Estimation by Request
      0.15 Acres

      8171 Ctr St

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      8171 Ctr St, La Mesa, CA 91942-2907
      View Details
    • Value Estimation
      $965,000
      5,322 SF

      5358 Jackson Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,322 SF
      5358 Jackson Dr, La Mesa, CA 91942-3040
      View Details

    Similar Nearby for Sale

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      Mixed-Use Property in La Mesa

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      Retail Property in La Mesa

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      La Mesa Fourplex Investment Opportunity

      Value-add fourplex near Grossmont Center and SDSU.
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      Entitled Land for Mixed-Use Development

      1.4 acre land with entitlements for mixed-use development.
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    Similar Nearby for Lease

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      La Mesa Retail Center Opportunity

      Prime La Mesa storefront space available.
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      High-visibility retail building in the heart of La Mesa.
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      Retail Space in La Mesa

      Retail space available for lease in La Mesa, CA.
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      Retail Space For Lease

      Retail space available for lease.
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      Retail Space in La Mesa

      Retail space centrally located in the heart of La Mesa.
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      View Details
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    La Mesa, CA 91942
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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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