8505 Navajo RdSan Diego, CA 92119

Property Details for 8505 Navajo Rd

Year built

1995

Lot size

0.37 AC

Property size (Sq ft)

3,698 SF

Zone code

COMMERCIAL

Property type

Healthcare properties

Property subtype

Medical offices

APN

457-320-08-00

APU

4573200800

Description

This exceptional Class A medical office building, located at 8505 Navajo Road in San Diego, California (zip code 92119), presents a compelling owner-user investment opportunity. The single-story, 3,698 square foot building sits on a large 16,000 square foot corner lot and boasts 18 parking spaces, with ample street parking also available. Built in 1998, the property features a 100% occupancy rate with a current Net Operating Income (NOI) of $192,000, yielding an 8.37% cap rate. A pro-forma NOI of $180,000 and a pro-forma cap rate of 7.84% are also available. The building is currently utilized as a dental practice, but its versatile design, including a large 675 square foot seminar room, makes it suitable for various medical uses, such as an oral surgery center. The property includes medical gas infrastructure. A significant advantage is the substantial solar array, providing free electricity and substantial tax savings through depreciation. The solar array, valued at $500,000, allows for approximately $100,000 in annual depreciation deductions. Note that the AT&T cellular lease does not convey with the sale. The asking price is $2,295,000, translating to a price per square foot of $620.61. The property is zoned for Commercial, Medical, and Retail uses.

• CAP approach

  CAP return

  Valuation

  6%

  $775,160

  6.5%

  $715,533

  7%

  $664,423

• Comparable approach

  Method

  Valuation

  Relative Method

  $598,498

  Geo Method

  $1,301,585

• Alternative Use

  Use

  Valuation

  Residential

  $887,261

  Hospitality

  $812,726

  Educational

  $676,178

  Medical

  $699,433

  Retail

  $1,051,833

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.8028

Longitude

-117.013

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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