Flex Building With
For Sale
$799,990
13659 Magnolia Avenue, Corona, CA 92879
Commercial Sale, Corona, CA
Property Size3,600 SF
Price / SF$222.22
Days on Market134
Property Features for 13659 Magnolia Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From 91 Fwy, exit McKinley Ave, go south to Magnolia Ave. Property on right. From I-15, exit Magnolia Ave, head east. Property on left, just south of 91 Fwy.
Subdivision
248 - Corona
Standard status
Active
APN
115261017
Building Details
Year built
1964
Listing Agency:
Pinnacle Real Estate Group
(626) 888-9808
Listed By:
LITING ZHANG · License #02121195
(909) 780-1888
Added: Apr 20
Changed: Aug 24
Last Checked: Aug 30 at 11:06PM
MLS# WS26086905
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,600-square-foot flex property, built in 1964, combines a front section designed for three suites with a warehouse occupying the rear portion. Each suite has its own restroom, and the layout includes three entrances, two of which are currently closed. The front area can be divided into separate suite configurations, providing flexibility within the existing building footprint.
The property is positioned near McKinley and just south of the 91 Freeway in Corona. Access includes a shared driveway easement with the adjacent parcel. Its location provides exposure to traffic along the surrounding commercial corridor, while the mix of suite and warehouse space accommodates varied operational layouts.
The property is positioned near McKinley and just south of the 91 Freeway in Corona. Access includes a shared driveway easement with the adjacent parcel. Its location provides exposure to traffic along the surrounding commercial corridor, while the mix of suite and warehouse space accommodates varied operational layouts.
Key Highlights
- 3,600‑square‑foot flex building in Corona
- Front area configured for 3 suites, each with its own restroom
- Rear warehouse area provides dedicated storage or operational space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,248
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$924,960
$925.0K
Cap Rate 7%
$660,686
$660.7K
Cap Rate 9%
$513,867
$513.9K
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.8K $21.60/SF
− Vacancy
−$6.6K −$1.84/SF
EGI
$71.2K $19.76/SF
− OpEx
−$24.9K −$6.92/SF
NOI
$46.2K $12.85/SF
Area
Corona, CA
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$924,960
Cap Rate 7%
$660,686
Cap Rate 9%
$513,867
Alternative Uses
Best Use
Flex RnD
$660.7K
$578.1K – $770.8K
NOI $46,248 @ 7.0% cap · market cap 5.78%
Second Best
Warehouse
$532.0K
$465.5K – $620.7K
NOI $37,241 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.12M
$979.8K – $1.31M
NOI $78,382 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92879, CA
47,243
Population
14,919
Households
3.2
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
9.8 sq mi
ZIP Area
4,821
Density / Sq Mi
$91,862
Median Household Income
$42,496
Median Earnings
$1,968
Median Rent
$592,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-suite commercial property combining front-office configuration with rear warehouse space and multiple points of entry.
Where is this flex space located?
The property is located at 13659 Magnolia Avenue Corona, CA.
What is the asking price?
The asking price for this property is $799,990.
What are key features of this property?
This property features: 3,600‑square‑foot flex building in Corona; Front area configured for 3 suites, each with its own restroom; Rear warehouse area provides dedicated storage or operational space
