Shell-Condition
For Sale
$3,350,000
100-2434 Fenton St, Chula Vista, CA 91914
Light-industrial zoning and grade-level loading support flexible warehouse, industrial, or flex applications.
Property Size10,151 SF
Price / SF$330.02
Days on Market119
Property Features for 100-2434 Fenton St
General Information
Standard status
Active
Size
10,151 SF
Zoning
Light Industrial
Warehouse & Industrial
Clear Height
22 ft
Warehouse Space
10,151 SF
Drive-In Doors
2
Building Details
Buildings
1
Building Size
10,151 SF
Listing Agency:
BHGRE Clarity
(619) 778-3514
Listed By:
Elias Levy · License #01421986
(619) 778-3514
Source:
Exprealty
Added: May 4
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHGRE Clarity
Investment Insights
Based on property information with market context.
This ±10,151-square-foot warehouse is offered in shell condition, allowing the interior to be customized for a range of warehouse, industrial, or flex requirements. The building measures approximately 127’ x 80’ and provides ±22-foot clear height. Two grade-level roll-up doors support loading operations; no dock is included. The layout also offers potential for a two-story office or mezzanine buildout.
The property is located in Eastlake, approximately 10 minutes from the Otay Mesa Port of Entry, with access to major transportation routes supporting cross-border logistics. Light-industrial zoning accommodates the property’s warehouse-oriented configuration and potential flex use. The asset is suited to both owner-users and investors seeking a customizable industrial building.
The property is located in Eastlake, approximately 10 minutes from the Otay Mesa Port of Entry, with access to major transportation routes supporting cross-border logistics. Light-industrial zoning accommodates the property’s warehouse-oriented configuration and potential flex use. The asset is suited to both owner-users and investors seeking a customizable industrial building.
Key Highlights
- ±10,151 SF warehouse in shell condition
- Approximately 127’ x 80’ building dimensions
- ±22‑foot clear height
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
$142,116
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
4.24%
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%
$2,842,320
$2.8M
Cap Rate 7%
$2,030,229
$2.0M
Cap Rate 9%
$1,579,067
$1.6M
Market Conditions
NOI Build-Up for 10,151 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
$235.1K $23.16/SF
− Vacancy
−$16.5K −$1.62/SF
EGI
$218.6K $21.54/SF
− OpEx
−$76.5K −$7.54/SF
NOI
$142.1K $14.00/SF
Area
Chula Vista, CA
Vacancy
7.00%
Lease Rate
$23.16 /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%
$2,842,320
Cap Rate 7%
$2,030,229
Cap Rate 9%
$1,579,067
Alternative Uses
Best Use
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,116 @ 7.0% cap · market cap 4.24%
Second Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,366 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,626 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,226
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91914, CA
17,522
Population
4,948
Households
3.5
Avg Household Size
39
Median Age
48%
College-Educated
94%
High-School Grad
6.6 sq mi
ZIP Area
2,655
Density / Sq Mi
$164,398
Median Household Income
$71,944
Median Earnings
$3,076
Median Rent
$960,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SmartStop Self Storage — 2380 Fenton St, Chula Vista, CA 91914
- Public Storage — 2391 Fenton St, Chula Vista, CA 91914
- Simply Contents — Chula Vista, CA 91914
- Priority Moving and Storage — 2311 Boswell Rd #1, Chula Vista, CA 91914
Frequently Asked Questions
What type of property is this?
Warehouse - Light-industrial zoning and grade-level loading support flexible warehouse, industrial, or flex applications.
Where is this warehouse located?
The property is located at 100-2434 Fenton St Chula Vista, CA.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: ±10,151 SF warehouse in shell condition; Approximately 127’ x 80’ building dimensions; ±22‑foot clear height
