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4565 Ruffner St 15,974 SF 98% Leased Office Building San Diego, CA 92111 $6,525,217 CAD ($408.49 CAD/SF) 5% Cap Rate
Investment Highlights
- Located next to Convoy Street, one of San Diego’s busiest commercial corridors
- Owner-user ability with short term leases in place
- Close proximity to major national retailers including 24-Hour Fitness, CarMax, and Target
Executive Summary
4565 Ruffner Street is a rare dual-purpose opportunity that works equally well for the pure investor seeking stable in-place income and for the owner-user looking to put their business in a premium Kearny Mesa location while collecting rent from surrounding tenants. The two-story, multi-tenant office building sits adjacent to Convoy Street with immediate access to Interstate 805, delivering strong fundamentals from both an income and a real estate perspective.
The 15,974 SF building is 100% occupied by 27 tenants, generating $237,116 in annual NOI offered at a 5.00% CAP rate. In-place rents average $23.62 gross per SF, representing meaningful upside compared to recent submarket lease comps averaging $29.55 per SF. The building has not dropped below 90% occupancy in over 10 years, and all tenants are on short-term leases, giving a new owner maximum control over the asset from day one.
The 15,974 SF building is 100% occupied by 27 tenants, generating $237,116 in annual NOI offered at a 5.00% CAP rate. In-place rents average $23.62 gross per SF, representing meaningful upside compared to recent submarket lease comps averaging $29.55 per SF. The building has not dropped below 90% occupancy in over 10 years, and all tenants are on short-term leases, giving a new owner maximum control over the asset from day one.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
15,974 SF
Building Class
C
Year Built
1981
Price
$6,525,217 CAD
Price Per SF
$408.49 CAD
Cap Rate
5%
NOI
$326,261 CAD
Percent Leased
98%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,000 SF
Slab To Slab
9’
Building FAR
0.80
Lot Size
0.46 AC
Zoning
M-1B - Mixed Use Business Zone
Parking
51 Spaces (3.19 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Reception
- Partitioned Offices
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 2nd Fl-Ste 210
- 385 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Build-Out | Available |
| 2nd Fl-Ste 210 | 385 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 210
| Size |
| 385 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 356-160-73 | Improvements Assessment | $2,232,972 CAD |
| Land Assessment | $3,349,461 CAD | Total Assessment | $5,582,433 CAD |
Property Taxes
Parcel Number
356-160-73
Land Assessment
$3,349,461 CAD
Improvements Assessment
$2,232,972 CAD
Total Assessment
$5,582,433 CAD
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4565 Ruffner St
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