San Diego Retail Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, Voitco, Matthews, Colliers, Lee Associates
Quarterly retail market indicators for San Diego, aggregated by PropZone from Cushman & Wakefield, Voitco, Matthews, Colliers, Lee Associates. As of Q1 2026, average asking rent was $27.60/SF with a 4.5% vacancy rate.
Projected current retail pricing — San Diego
low confidenceProjected asking rent
$27.60–$27.95/SF/yr
Estimated sale value
$295–$377/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Cushman & Wakefield data (cap rate 5.8%, asking rent trend-adjusted to today). Assumes ~96% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $27.60/SF | 4.5% | — | — | Cushman & Wakefield |
| Q4 2025 | $28.32/SF | 4.4% | 3.8M SF | — | Voitco |
| Q4 2025 | $36.28/SF | 4.8% | — | — | Matthews |
| Q4 2025 | $26.16/SF | 4.4% | 48K SF | — | Cushman & Wakefield |
| Q3 2023 | — | 3.1% | — | — | Cushman & Wakefield |
| Q2 2018 | $26.16/SF | 4.6% | — | — | Cushman & Wakefield |
| Q2 2018 | — | 6.7% | 148K SF | — | Colliers |
| Q3 2017 | $12.33/SF | 5.1% | 375K SF | — | Lee Associates |
Frequently asked questions
- What is the average asking rent for retail space in San Diego?
- As of Q1 2026, the average asking rent for retail space in San Diego was $27.60/SF, per Cushman & Wakefield.
- What is the retail vacancy rate in San Diego?
- The retail vacancy rate in San Diego was 4.5% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's San Diego market data come from?
- This report aggregates quarterly retail market data for San Diego from Cushman & Wakefield, Voitco, Matthews, Colliers, Lee Associates.
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