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5520 Ruffin Road
RR
Josh Buchholz619.391.1889josh@dmjpartners.comLic #01761228
Doug Ceresia, SIOR, CCIM 619.391.1890doug@dmjpartners.comLic # 01314250
Matt Midura619.391.1891matt@dmjpartners.comLic # 01826378
EXCLUSIVE ADVISORS5090 Shoreham PlaceSuite 106San Diego, CA 92122619 630 4554dmjpartners.com2
TABLE OF CONTENTS
E X EC U T I V E S U M M A RY
P R O P E RT Y D E S C R I P T I O N
M A R K E T OV E RV I E W
F I N A N C I A L A N A LYS I S
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5520 Ruffin Road
RR
NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN ARE ANY TO BE IMPLIED.
5090 Shoreham PlaceSuite 106San Diego, CA 92122619 630 4554dmjpartners.com
Executive Summary
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Executive Summary
DMJ Partners has been retained on an exclusive basis by the Owner to market for sale the two story office building located at 5520 Ruffin Road, San Diego CA to
qualified principals.
5520 Ruffin Road features easy access to I-15, Highway’s 52 & 163 and Clairemont Mesa Boulevard. It is near restaurants, retail and hotels and
the new Kaiser Memorial Hospital. The building has 49 parking spaces and is partially owner occupied. The subject property was built in 1975 and is a
16,434 SF, multi-tenant office building on a 0.85 acre site. It consists of two floors with the Owner’s suite on the first floor. The common areas are well maintained
and the exterior of the building is well landscaped.
This offering provides an exciting opportunity for an Owner User.
5520 Ruffin Road
RR
PROPERTY DESCRIPTION
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Address 5520 Ruffin RoadSan Diego, CA 92123
Submarket Kearny Mesa
Purchase Price $3,990,000
Project Size 16,434 RSF
Building Class B
Number of Buildings 1
APN # 369-191-23
Stories 2
Year Built 1975
Parking 49 Surface Parking Spaces Available
Construction Type Wood Frame with Stucco Cover
Foundation The foundation consists of reinforced concrete slab with basement
Roof White cool roof installed approximately 10 years ago
Elevators N/A
HVAC Roof Mounted Packaged Units
Electrical Suites are Separately Metered
Utilities Water/Sewer, City of San Diego; Electricity/Gas, San Diego Gas & Electric
Landscaping The project features concrete curbs and walkups through the exterior and side parking areas
Internet Fiber (Cox and AT&T)
Power 1,000 AMPS of 110v; 300 AMPS of 208v
Monthly Incomefrom Tenants
$3,082.00
Pacific Ocean
Address 5520 Ruffin Road, San Diego, CA 92123
Location This two-story property is located east of Highway 163, and West of Interstate 15 in the Kearny Mesa submarket. 3 Miles West 1 Mile North 4 Miles West .7 Miles East
Access The Property is accessible by one entrance off of Ruffin Road
Zoning IL-2-1
Lot Size .85 Acres
APN 369-191-23
SITE DESCRIPTION
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5520 Ruffin Road
Claire
mont M
esa Blvd
.Ruffin Road
NEW Kaiser Permanente 2017 Completion
National UniversityCounty of San Diego
Operations Center
Northrop Grumman
Toby Wells YMCA
Montgomery Field
Jack In The Box Superior Courthouse
Bridgepoint EducationSharp Healthcare
Raytheon Intergrated Defense
Cubic Corporation
Solar Turbines SDGE
RR
Ruffin Road
NEW Kaiser Permanente Medical Center
FIRST FLOOR
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SECOND FLOOR
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MARKET OVERVIEW
San Diego County
San Diego County with more than 3.3 million residents is the fifth largest county in America.
Bordered by the Pacific Ocean to the west, the Anza-Borrego Desert and the Laguna Mountains to the east,
Marine Corps Base Camp Pendleton to the North and Mexico to the south, the diverse neighborhoods of San Diego are spread out
over 4,200 square miles. With its year-round warm climate, 60 miles of coastline and appealing work, live, play lifestyle, the city is highly
desirable.
Referred to as America’s finest City, the City of San Diego boasts a citywide population of nearly 1.3 million residents and more than 3 million residents county-wide. It encompasses 18 incorporated cities and numerous other charming neighborhoods and communities, including downtown’s historic Gaslamp Quarter, Little Italy, Coronado, La Jolla, Del Mar, Carlsbad, Escondido, La Mesa, Hillcrest, Barrio Logan and Chula Vista just to name a few.
The city is the heart of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego’s main economic engines are military and defense-related activities, tourism, international trade, manufacturing and the especially rapidly growing high tech industry.
San Diego hosts several major producers of wireless cellular technology. Qualcomm was founded and is headquartered in San Diego and is one of the largest private-sector employers in San Diego. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology.
Recently, San Diego was designated by a Forbes columnist as the best city in the country to launch a small business or startup company.
San Diego is the fifth largest county in the United States and the second largest in California. By 2020, the County’s population is forecasted to be 3.54 million people.
According to the State of California Employment Development Department, as of September 2018 the San Diego County unemployment rate was 3.2%, which is the lowest level since May 2007. The County unemployment rate compares favorably with the state of California’s unemployment rate of 3.9% and 3.6% for the nation.
Population3.3 Million
Income$81,800
Unemployment3.2%
Transportation
According to most recent information collected for the San Diego County Housing and CommunityDevelopment Services data, the 2018 Area Median Income (AMI) for San Diego County is $81,800 The California Department of Transportation is forecasting real average salaries rising by an average of 1.4 percent per year from 2014 to 2019.
San Diego is served by a network of freeways and highways, the San Diego Trolley light rail system, the SDMTS bus system, and Coaster and Amtrak Pacific Surfliner commuter rail . There are two Amtrak stations in San Diego, in Old Town and the Santa Fe Depot downtown.
The city’s primary commercial airport is the San Diego International Airport, also known as Lindbergh Field. It is located along the San Diego Bay, 11.5 miles from the subject property in Kearny Mesa. In addition, the city itself operates two general-aviation airports, Montgomery Field and Brown Field.
KEARNY MESA MARKET
Kearny Mesa is a submarket in the central part of San Diego. Nearby communities include Serra Mesa, Clairemont and Tierrasanta. Kearny Mesa is named for the former Camp Kearny, a U.S. military base which operated in the area from 1917 to 1946 and eventually became Marine Corps Air Station Miramar.
The urbanization of Kearny Mesa began in 1937 with Gibbs Airfield, now the small airfield Montgomery Field. Beginning in 1955 with General Dynamics, numerous aerospace, electronic, and other industrial and office firms located in the area. There was also commercial development, particularly west of State Route 163. The majority of the Kearny Mesa area is commercial and industrial. Local businesses in that area include auto sales, restaurants, supermarkets (American and Asian), national chain stores, and small businesses.
The eastern side of State Route 163 includes newer development consisting of mostly office, retail and residential with numerous headquarter locations making this building a perfect opportunity for an owner user.
Kearny Mesa
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Submarket: Scripps Ranch Buyer: WD-40 Company
Sale Price: $10,676,500 Seller: 9715 Businesspark Avenue, LLC
Year Built: 1985 Building Size: 42,706
Sale Date: 9/13/2016 Land Area: 2.23 Acres
Price PSF: $250.00 % Leased: 100%
# of Stories: 3 Cap Rate: N/A
9715 Businesspark Avenue9715 Businesspark Avenue
Submarket: Scripps Ranch Buyer: Navy Federal Credit Union HQ
Sale Price: $6,472,500 Seller: Currie/Samuelson Development
Year Built: 1985 Building Size: 36,100
Sale Date: 4/5/2016 Land Area: 1.00 Acres
Price PSF: $179.29 % Leased: 100%
# of Stories: 2 Cap Rate: N/A
9999 Willow Creek Road9999 Willow Creek Road
Submarket: Mission Valley Buyer: California Schs Voluntary Emps
Sale Price: $6,375,000 Seller: NBTK Holdings, LP
Year Built: 1984 Building Size: 26,700
Sale Date: 9/30/2016 Land Area: .83 Acres
Price PSF: $238.76 % Leased: 32.8%
# of Stories: 3 Cap Rate: N/A
1843 Hotel Circle South1843 Hotel Circle South
Submarket: Sorrento Mesa Buyer: Baqueira, LLC
List Price: $2,250,000 Seller: Wateridge Industrial Partnership
Year Built: 1984 Building Size: 9,426
Sale Date: 10/26/2016 Land Area: .50 Acres
Price PSF: $238.70 % Leased: 100%
# of Stories: 1 Cap Rate: N/A
Wateridge Pavilion10515 Vista Sorrento Parkway
Submarket: Sorrento Mesa Buyer: Shekar San Diego, LLC
Sale Price: $2,850,000 Seller: EJMC, Inc.
Year Built: 1992 Building Size: 11,319
Sale Date: 11/14/2016 Land Area: 3.96 Acres
Price PSF: $251.79 % Leased: 100%
# of Stories: 2 Cap Rate: N/A
First Edition Office Park6205 Lusk Boulevard
COMPETITIVE SETS | OWNER USER SALE COMPARABLES
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FINANCIAL ANALYSIS
Suite Tenant RSF Rent per Month Expiration
100 Vacant 4,016 $0.00 N/A
109 LA City Blessing Church, Inc. 1,993 $3,082.00 month-to-month
111 Vacant 1,993 $0.00 N/A
201 Vacant 1,420 $0.00 N/A
203 Vacant 1,070 $0.00 N/A
205 Vacant 1,520 $0.00 N/A
206 LA City Blessing Church, Inc. 822 $0.00 month-to-month
208 Vacant 1,393 $0.00 N/A
209 Vacant 2,207 $0.00 N/A
TOTAL 16,434 $3,082.00
RENT ROLL
5520 Ruffin Road
RRExclusive Advisors
Matt Midura619.391.1891 | matt@dmjpartners.comLic # 01826378
Doug Ceresia, SIOR, CCIM619.391.1890 | doug@dmjpartners.comLic # 01314250
Josh Buchholz619.391.1889 | josh@dmjpartners.comLic #01761228
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