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    Property profile & analytics

    9040 Friars Rd San Diego, CA 92108-5859

    • Office buildings
    • 79,199 SF
    • 7.77 lot acres
    OFF-MARKET
    Last Sale
    Feb 16, 2024
    $24,000,000
    Value Estimations
    $24,000,000
    Show details
    Cap Rate Potential
    6.8%
    Office buildings
    Location Intelligence
    Property ID
    US09-7184929
    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

    • Sarah J. Mackay, DC / Alternative Medicine Practice
    • chiropractic care, sports therapy services mission valley, ca / Alternative Medicine Practice
    • Ava Mendoza Mobile Toilet Rentals / Party Supply Store / Rental Equipment Company
    • Dr. William L. Shoemaker, DO / Physician
    • Davidson Lainie / Family Counselor

    Property Details for 9040 Friars Rd

    Year built
    1989
    Lot size
    7.77 lot acres
    Property size
    79,199 SF
    Zone code
    COMMERCIAL
    Property type
    Office buildings
    APN
    433-270-43-00
    APU
    4332704300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $24,000,000
      ML approach
      $24,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $27,180,000
      6.5%
      $25,090,000
      7%
      $23,300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $26,139,000
      Market price range: $20.4M - $61.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $34,510,000
      Current use
      RETAIL STORES
      $38,095,000
      Change: +10% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $31,830,000
      Change: -8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $30,520,000
      Change: -12% 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
    -117.136
    Latitude
    32.7798
    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
    $242,847
    $9,113,717
    $10,635,295
    $19,749,012
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,620,000
      9,999 SF

      2355 Northside Dr, Unit 75

      OFFICE BUILDING (MULTI-STORY) • 9,999 SF
      2355 Northside Dr, San Diego, CA 92108-2705
      View Details
    • Value Estimation
      $9,345,000
      56,052 SF

      2727 Camino Del Rio S Ste, Unit 135

      OFFICE BUILDING (MULTI-STORY) • 56,052 SF
      2727 Camino Del Rio S Ste, San Diego, CA 92108-3700
      View Details
    • Value Estimation
      $3,620,000
      9,999 SF

      8954 Rio San Diego Dr Ste, Unit 104

      OFFICE BUILDING (MULTI-STORY) • 9,999 SF
      8954 Rio San Diego Dr Ste, San Diego, CA 92108-1659
      View Details
    • Value Estimation
      $10,265,000
      59,200 SF

      3333 Camino Del Rio S

      OFFICE BUILDING (MULTI-STORY) • 59,200 SF
      3333 Camino Del Rio S, San Diego, CA 92108-3808
      View Details
    • Value Estimation
      $7,595,000
      43,904 SF

      7801 Msn Ctr Ct

      OFFICE BUILDING (MULTI-STORY) • 43,904 SF
      7801 Msn Ctr Ct, San Diego, CA 92108-1313
      View Details
    • Value Estimation
      $12,900,000
      64,394 SF

      1011 Camino Del Rio S

      OFFICE BUILDING (MULTI-STORY) • 64,394 SF
      1011 Camino Del Rio S, San Diego, CA 92108-3531
      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.
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      View Details
    • $1,175,000
      25,000 SF

      Prime San Diego Executive Office

      2,040 SF Office Condo, $1.175M
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    • $1,220,000

      Upgraded Townhome Near Downtown

      Modern 3 bed, 2.5 bath townhome near San Diego hotspots.
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    • $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
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    • $495,000
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      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
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    • $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

    Similar Nearby for Lease

    • $2 SF/Yr
      5,386 SF

      Class A Office Space Available

      Two-story, 29,639 SF office space with freeway access.
      8889 Rio San Diego Dr, San Diego, CA 92108
      View Details
    • Contact for pricing
      3,073 SF

      Corporate Headquarters Office Space

      High-end office building with excellent highway access.
      2763 Camino Del Rio S, San Diego, CA 92108
      View Details
    • $2 SF/Yr
      2,039 SF

      Three-Story Office Building For Rent

      78,388 SF office building with freeway access and amenities.
      8989 Rio San Diego Dr, San Diego, CA 92108
      View Details
    • $3 SF/Yr
      2,156 SF

      Class A Office Space Available

      Class A office building in the heart of Mission Valley.
      591 Camino De La Reina, San Diego, CA 92108
      View Details
    • Contact for pricing
      2,443 SF

      Office Space with Car Wash

      Office space with on-site gym, car wash, and coffee.
      1615 Murray Canyon Rd, San Diego, CA 92108
      View Details
    • $24 SF/Yr
      39,960 SF

      Mission Valley Office Space Available

      San Diego office suites, 1,771-1,897 sq ft.
      3737 Camino Del Rio, San Diego, CA 92108
      View Details
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    9040 Friars Rd
    San Diego, CA 92108-5859
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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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