Two-Building Flex Industrial
For Sale
$690,000
Pending
545 E California Street, Ontario, CA 91761
Commercial Sale, Ontario, CA
Property Size3,520 SF
Lot Size0.19 Acres
Days on Market862
Property Features for 545 E California Street
General Information
Property type
Residential
Property subtype
Office
Directions
E/Oakland Ave. W/Vine Ave. S/Nevada St. N/Mission Blvd.
Subdivision
686 - Ontario
Special listing conditions
Probate Listing
Standard status
Pending
APN
1049322040000
Lot size
0.19 Acres
Building Details
Year built
1963
Listing Agency:
KELLER WILLIAMS EMPIRE ESTATES · Keller Williams Realty
(909) 945-0600
Listed By:
Brad Wallace · License #01822380
(909) 908-2723
Added: Apr 11, 2024
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# CV24072441
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 offering features two separate buildings on a single lot, configured for mixed-use flexibility. The front building includes an office component, and the rear building is set up as a warehouse. The property is fully gated and fenced, with parking provided between the two structures.
The site consists of two buildings totaling approximately 3,520 square feet on about an 8,100 square foot lot, located at 545 E California Street in Ontario, California. The property is zoned Business Park.
The listing notes this is a probate sale requiring court confirmation. The current configuration supports an owner user approach using the front building for office use while renting the rear warehouse space.
The site consists of two buildings totaling approximately 3,520 square feet on about an 8,100 square foot lot, located at 545 E California Street in Ontario, California. The property is zoned Business Park.
The listing notes this is a probate sale requiring court confirmation. The current configuration supports an owner user approach using the front building for office use while renting the rear warehouse space.
Key Highlights
- Two buildings on one lot: +/-2,338 SF warehouse and +/-1,182 SF office.
- Zoned Business Park.
- Fully gated and fenced property.
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
$52,686
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
7.64%
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%
$1,053,720
$1.1M
Cap Rate 7%
$752,657
$752.7K
Cap Rate 9%
$585,400
$585.4K
Market Conditions
NOI Build-Up for 3,520 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
$67.2K $19.08/SF
− Vacancy
−$5.2K −$1.47/SF
EGI
$62.0K $17.61/SF
− OpEx
−$9.3K −$2.64/SF
NOI
$52.7K $14.97/SF
Area
Ontario, CA
Vacancy
7.71%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
15.00%
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%
$1,053,720
Cap Rate 7%
$752,657
Cap Rate 9%
$585,400
Alternative Uses
Best Use
Warehouse
$752.7K
$658.6K – $878.1K
NOI $52,686 @ 7.0% cap · market cap 7.64%
Second Best
Office B
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 7.39%
Theoretical Best
Specialty Retail
$910.4K
$796.6K – $1.06M
NOI $63,727 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
942
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91761, CA
60,306
Population
18,309
Households
3.3
Avg Household Size
35
Median Age
21%
College-Educated
81%
High-School Grad
28.5 sq mi
ZIP Area
2,116
Density / Sq Mi
$97,396
Median Household Income
$44,493
Median Earnings
$2,015
Median Rent
$590,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two buildings on a fully gated, fenced lot with parking between structures, zoned Business Park.
Where is this flex space located?
The property is located at 545 E California Street Ontario, CA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Two buildings on one lot: +/-2,338 SF warehouse and +/-1,182 SF office.; Zoned Business Park.; Fully gated and fenced property.
