IRR – San Diego Values “Egyptian” Commercial Condos, Hillcrest, San Diego

Integra – San Diego appraised the retail condominium units of a high-visibility mixed-use, commercial/residential property in San Diego. This property was originally built as a movie theater in 1911, and preserving only the Egyptian Revival architecture facade, in 2005 it was developed as a six-story mixed-use building containing 80 residential units, as well as the commercial condos. Site area for the entire project is .76 acre. The six retail condominium units were appraised as a single unit, for loan underwriting purposes for a financial institution.

Restaurant and Parking Lot Appraisal, San Diego Beach Community

Integra San Diego recently completed an appraisal consisting of an existing restaurant property of approximately 2,600 square feet of gross leasable area, on 0.06 acres, or 2,700 Square feet, and a parking lot that is non-contiguous, located approximately 2 blocks away from the restaurant. The parking lot site area is approximately 0.06 acres or 2,748 square feet. The client requested that the two properties be valued separately. The subject properties were in escrow at the time of the appraisal. Both the Sales Comparison Approach and the Income Capitalization Approach were used in this valuation. The purpose of this appraisal was for lending purposes with a financial services institution.

2015 Mid-Year Viewpoint

Hotel-Appraisal-858-259-4900Integra Realty Resources – San Diego, along with its 60+ offices nationwide, has again published mid-year updates to our annual Viewpoint publication – with both a National Overview and over 300 Local Market reports.

The San Diego commercial real estate market, as well as markets across the country, continues exhibiting improving market conditions for all major property types, including office, multifamily, retail, industrial, and lodging.

For a complete look at the data presented in IRR Mid-Year Viewpoint 2015, please click on the links below.

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San Diego Leasing Trends – Midyear Viewpoint Preview

Based on our research, market conditions are expected to improve across all property types in San Diego. The following charts detail current rental and vacancy rates for office, retail and industrial property types in San Diego in comparison with the rest of the region and the United States. Following these current snapshots is a 12-month forecast of the change in market rent, the amount of square feet absorbed, the amount of construction completed, and the estimated allowance for tenant improvements.

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Retail Property Appraisal in El Cajon

El-Cajon-Commercial-Real-Estate-AppraisalIRR San Diego has completed a commercial appraisal of a strip retail center property located in El Cajon in San Diego County. The building is approximately 8,300 square feet and is located on a 0.62 acre site. As of the effective appraisal date, the property is 100% leased to seven tenants with suite sizes ranging from 425 to 3,442 square feet. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you are in need of a retail property appraisal, please contact us today at 858-259-4900 or via email at sandiego@irr.com.

Office/Retail Property Appraisal in Cardiff

Cardiff-commercial-real-estate-appraisalIntegra San Diego has completed a commercial appraisal of an office/retail property located in Cardiff by the Sea (Encinitas) in San Diego County. This mixed-use, two-story building contains approximately 7,000 square feet of rentable area, was built in 1917, and has been renovated in the last 10 years. As of the effective appraisal date, the building is 100% leased to 14 tenants with suite sizes ranging from 125 square feet to 4,100 square feet. The building is located on a 0.19 acre site. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you have any questions or needs for a commercial real estate appraisal in Cardiff, please contact us today at 858-259-4900 or at sandiego@irr.com.

Key SoCal Market Comparisons

Hotel-Appraisal-858-259-4900Every New Year begs a time for reflection, to account for what has transpired and to plan for the future. Looking back on 2014, it is important to review the three major property types across four of Southern California’s prominent markets to note any market trends. Below are tables summarizing the average price per square foot of office, retail, and industrial properties across San Diego, Orange County, Los Angeles, and the Inland Empire – including Riverside and San Bernardino Counties.

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Retail/Restaurant Appraisal in Escondido, San Diego County

retail-restaurant-appraisal-escondido-san-diegoIntegra Realty Resources – San Diego has completed a commercial appraisal of a retail property located in Escondido in San Diego County. The building is approximately 1,200 square feet in size, was constructed in 1972, and is improved for restaurant use. It is located on a 0.34 acre site. As of the effective appraisal date, the property is 100% leased to a single-tenant. The purpose of this commercial valuation was for loan underwriting purposes for a lender.

If you have any questions or needs for a retail or restaurant appraisal in Escondido, please contact us today at 858-259-4900 or via email at sandiego@irr.com.

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