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    8920 Fletcher Pkwy La Mesa, CA 91942-3231
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    Property profile & analytics

    8920 Fletcher Pkwy, La Mesa, CA 91942-3231

    View on Map
    • Grocery and convenience stores
    • 53,060 SF
    • 1.23 lot acres
    Off-Market
    Last Sale Nov 14, 2022
    Property ID
    US09-9201412
    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
    $9,315,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Albertsons Floral / (Bike/Boat/Book/etc) Store / Florist
    • Coinme at Coinstar - Bitcoin Kiosk / Bank / Credit Union
    • Albertsons Pharmacy / Pharmacy
    • Albertsons Bakery / Bakery / Specialty Food Shop
    • Sav-On Pharmacy / Pharmacy

    Property Details for 8920 Fletcher Pkwy

    Year built
    1999
    Lot size
    1.23 lot acres
    Zone code
    COMMERCIAL
    Property type
    Grocery and convenience stores
    APN
    490-210-48-00
    APU
    4902104800

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 14, 2022 — Albertsons LLC Aci Real Estate Spe 142 LLC Special Warranty Deed —
    Jun 10, 2020 — Aci Real Estate Spe 142 LLC Abs Ca-o LLC Quit Claim Deed —
    Apr 12, 2013 — Abs Ca-o LLC Asp Realty INC Warranty Deed —
    Jul 19, 2006 — Asp Realty INC American Stores Properties LLC Grant Deed —
    Sep 30, 1997 $2,500,000 American Stores Properties INC — Grant Deed · related —
    Aug 1, 1997 $2,500,000 American Stores Properties INC — Grant Deed · related —
    — — Abs Ca-o LLC — Deed Of Trust · related $1,050M · Bank Of America
    — — Abs Ca-o LLC — Deed Of Trust · related $1,145M · Wilmington Trust (ct)

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,890,000
      6.5%
      $12,825,000
      7%
      $11,905,000

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

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.005
    Latitude
    32.7858
    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
    $126,437
    $1,448,734
    $8,209,523
    $9,658,257
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,970,000
      25,600 SF

      5630 Lk Murray Blvd

      GROCERY, SUPERMARKET
      5630 Lk Murray Blvd, La Mesa, CA 91942-1929
      View Details
    • Value Estimation by Request
      0.64 Acres

      5349 Jackson Dr

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

      7200 University Ave

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

      8171 Ctr St

      RETAIL STORES (PERSONAL SERVICES)
      8171 Ctr St, La Mesa, CA 91942-2907
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • $6,500,000

      5270 Jackson Dr, La Mesa, CA 91942

      Storefront properties
      5270 Jackson Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing
      18,048 SF

      Mixed-Use Property in La Mesa

      Fully leased mixed-use property with cash flow and redevelopment potential.
      8870-78 La Mesa Blvd, La Mesa, CA 91942
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      La Mesa Retail Space Available

      Retail space available for lease in La Mesa, CA.
      5630-5650 Lake Murray Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,552 SF

      Retail Space in La Mesa

      Retail space centrally located in the heart of La Mesa.
      8030-8076 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,500 SF

      La Mesa Retail/Office Space

      Retail or office space featuring an open floor plan.
      5276-5282 Baltimore Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing
      5,000 SF

      La Mesa Retail Space Available

      Retail space available for rent in La Mesa, CA.
      8310-8312 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing

      La Mesa Retail/Medical Space

      Retail or medical space featuring treatment rooms and reception area.
      8702-8716 La Mesa Blvd, La Mesa, CA 91942
      View Details
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    La Mesa, CA 91942-3231
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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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