Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8989 Rio San Diego Dr San Diego, CA 92108

    • Retail space
    • 73,778 SF
    • 3.44 lot acres
    For Lease
    View listing
    $2 SF/Yr
    Last Sale
    Sep 28, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7187703
    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

    • Strommer Leslie S DDS / Dental Office
    • Margaret Ashwell - Intercap Lending / Loan Service / Bank
    • Rio VA Clinic / Medical Clinic
    • Affiliated Research Institute / Medical Clinic
    • State Farm Insurance / Insurance Agency

    Property Details for 8989 Rio San Diego Dr

    Year built
    1990
    Lot size
    3.44 lot acres
    Property size
    73,778 SF
    Zone code
    COMMERCIAL
    Property type
    Retail space
    APN
    438-051-12-00
    APU
    4380511200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $29,680,000
      6.5%
      $27,400,000
      7%
      $25,440,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $35,485,000
      Current use
      OFFICE BUILDING
      $32,150,000
      Change: -9% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $29,650,000
      Change: -16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $28,430,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.137
    Latitude
    32.7752
    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
    $275,150
    $6,791,731
    $15,599,757
    $22,391,488
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $910,000
      6.04 Acres

      7470 Msn Vly Rd

      RETAIL STORES (PERSONAL SERVICES) • 6.04 Acres
      7470 Msn Vly Rd, San Diego, CA 92108-4406
      View Details
    • Value Estimation
      $19,990,000
      74,699 SF

      7565 Msn Vly Rd, Unit 75

      RETAIL STORES (PERSONAL SERVICES) • 74,699 SF
      7565 Msn Vly Rd, San Diego, CA 92108-4431
      View Details
    • Value Estimation
      $7,820,000
      30,000 SF

      5644 Msn Ctr Rd

      RETAIL STORES (PERSONAL SERVICES) • 30,000 SF
      5644 Msn Ctr Rd, San Diego, CA 92108-4328
      View Details
    • Value Estimation
      $8,405,000
      28,242 SF

      2440 Hotel N Cir

      RETAIL STORES (PERSONAL SERVICES) • 28,242 SF
      2440 Hotel N Cir, San Diego, CA 92108-2823
      View Details
    • Value Estimation
      $5,650,000
      32,953 SF

      4420 Hotel Cir Ct

      RETAIL STORES (PERSONAL SERVICES) • 32,953 SF
      4420 Hotel Cir Ct, San Diego, CA 92108-3411
      View Details
    • Value Estimation
      $7,710,000
      23,811 SF

      980 Camino De La Reina

      RETAIL STORES (PERSONAL SERVICES) • 23,811 SF
      980 Camino De La Reina, San Diego, CA 92108-3290
      View Details

    Similar Nearby for Sale

    • $825,000
      1,500 SF

      Mission Valley Office Condo For Sale

      1,500 SF office condo available in Mission Valley.
      2333 Camino Del Rio S, San Diego, CA 92108
      View Details
    • $1,220,000

      Upgraded Townhome Near Downtown

      Modern 3 bed, 2.5 bath townhome near San Diego hotspots.
      2335 Aperture Cir, San Diego, CA 92108
      View Details
    • $739,900
      950 SF

      Move-In Ready Townhome at Hazard Center

      Comfortable townhome with upgrades, private balcony, and garage.
      7577 Hazard Center Dr, San Diego, CA 92108
      View Details
    • $495,000
      865 SF

      Remodeled Condo in Mission Valley

      Completely remodeled 2-bedroom condo with high-end finishes and resort-style amenities.
      6780 Friars Rd, San Diego, CA 92108
      View Details
    • $11,850,000
      33,862 SF

      Corporate HQ & Warehouse Space

      Corporate headquarters and warehouse space available for sale or lease.
      7520 Mission Valley Rd, San Diego, CA 92108
      View Details
    • $1,175,000
      25,000 SF

      Prime San Diego Executive Office

      2,040 SF Office Condo, $1.175M
      2333 Camino Del Rio, San Diego, CA 92108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,861 SF

      Retail Space Near Valley Mall

      Retail space available in San Diego's desired retail submarket.
      1176-1400 Camino De La Reina, San Diego, CA 92108
      View Details
    • Contact for pricing
      2,984 SF

      Retail Space in Mission Valley

      Retail space available in a desirable San Diego location.
      925 Camino De La Reina, San Diego, CA 92108
      View Details
    • Contact for pricing
      1,576 SF

      Retail Space in Mission Valley

      Highly visible retail space in the heart of Mission Valley.
      7710 Hazard Center Dr, San Diego, CA 92108
      View Details
    • Contact for pricing
      2,300 SF

      Retail Space Available For Rent

      Retail space available for rent in San Diego, CA.
      4242 Camino Del Rio N, San Diego, CA 92108
      View Details
    • Contact for pricing
      10,500 SF

      Mission Valley Retail Space Available

      Retail space in regional shopping destination, Mission Valley, San Diego.
      1530 Mission Center Rd, San Diego, CA 92108
      View Details
    • Contact for pricing
      1,900 SF

      Retail Space on Fenton Parkway

      Retail space available for rent in San Diego, CA.
      2169 Fenton Pkwy, San Diego, CA 92108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8989 Rio San Diego Dr
    San Diego, CA 92108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!