What are expected vacancy rates for office space over a 10 year period. 10 spaces about 1k per sq ft per unit San Diego CA
This is a Class C well maintained in the Poway area off the beaten path built 1972
Tough to predict ten years out, none of the data providers go out further than five.According to CoStar, 1-3 star office properties in Poway have a 3.4% vacancy that trends up gradually to 6% by 2022, with consistent negative absorption of about 2500 sf / quarter. Office vacancy for San Diego as a whole is around 9%, but I would be concerned about the age of the asset (probably some deferred maintenance to consider even though it's well maintained) and that its off the beaten path in Poway. Smaller units do make it easier to maintain occupancy. Look at the tenant mix (probably a lot of personal service types in that area), how many times they've renewed, length of the leases etc.
DM me know if you need anything else.