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Property profile & analytics
OFF-MARKET
Estimated value
$24,000,000
Office buildings
9040 Friars Rd San Diego, CA 92108-5859
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7184929
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1989
Total area
79,199 SF
Lot
7.77 ac (338,461 SF)
Zoning code
COMMERCIAL
APN
433-270-43-00
UPID
US09-7184929
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$24.00M
CAP Approach
CAP
$25.09M
Comparable Approach
Comparable
$26.14M
Blend (final)
Blend
$24.00M
Owner & transaction history
Friars Rd 92 Development LLC · 2 yrs held
Friars Rd 92 Development LLC
since 2024
Last sale
$24.0M
5 recorded transactions
Zoning & alternative use
COMMERCIAL · San Diego, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$38.1M
+10.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Diego submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Diego submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue 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
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
Blend value · Realmo final
$24.00M
Range $21.60M – $26.40M · ±10% · vs last sale $24.00M (Feb 16 2024)
Last sale anchor
$24.00M
Feb 16 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$303 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$242,847
Tax year 2024
Assessed value
$19,749,012
Assessed 2024
Previous assessed
$19,749,012
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$9,113,717
Assessed improvement
$10,635,295
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1989
Heating
NONE
Units
1
Total area
79,199 SF
Lot
7.77 ac (338,461 SF)
Zoning code
COMMERCIAL
APN
433-270-43-00
UPID
US09-7184929
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · San Diego, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · San Diego, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Diego. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$34.5M
RETAIL STORES
Est. value
$38.1M
INDUSTRIAL (GENERAL)
Est. value
$31.8M
AUTO REPAIR, GARAGE
Est. value
$30.5M
OFFICE BUILDING Current
RETAIL STORES
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Heating
NONE
Units
1
Lot
7.77 ac
Current owner
From public records · entity-resolved
Friars Rd 92 Development LLC
Entity
Free & Clear · 2 yrs held
Mailing address
411 1ST AVE S STE #620, SEATTLE, WA 98104-3847
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2025
—
Friars Rd 92 Development LLC
—
Deed
related
—
Aug 21, 2025
—
Friars Rd 92 Development LLC
—
Deed
related
$6,390,000 · Taylor Morrison Of California LLC
Feb 16, 2024
$24,000,000
Friars Rd 92 Development LLC
Friars 82r Owner LLC
Grant Deed
—
Dec 11, 2019
$33,919,500
Friars 82r Owner LLC
Wawanesa Holdings Us INC
Trustees Deed
$32,126,000 · California Bk&tr
Aug 9, 2011
—
Wawanesa Holdings Us INC
Wawanesa Mutual Insurance Co
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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