Lompoc Industrial Building For
For Sale
Contact for pricing
1017 W Central Ave, Lompoc, CA 93436
81,687 sq ft industrial building on 5.9 acres.
Property Size81,687 SF
Lot Size5.90 Acres
Price / SF$146.90
Days on Market174
Property Features for 1017 W Central Ave
General Information
Standard status
Active
Size
81,687 SF
Lot size
5.90 Acres
Property subtype
Industrial
Zoning
BP
Occupancy
100%
Lease Type
NNN
Net Operating Income
$775,897
Building Details
Tenancy
Single
Listing Agency:
Lee & Associates - Los Olivos
(805) 588-7777
Listed By:
Tom Davidson · License #CA 595846
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 10 at 1:29PM
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 Lee & Associates - Los Olivos
Investment Insights
Based on property information with market context.
The property at 1017 W. Central is an 81,687 sq. ft. industrial building situated on a 5.9 acre fenced site. Constructed in 2007 as a pre-engineered steel building, it underwent extensive remodeling in 2013. The property is located in Lompoc, CA, along the Central coast of California in Santa Barbara County. The facility functions as the corporate headquarters and FDA Certified manufacturing and distribution operation for a variety of dental industry products. The property is under a net lease to a national credit tenant which has occupied the property since 2012. The workforce is comprised of highly skilled workers. The location is near Vandenberg Space Force Base, the west coast center for SpaceX launch operations. The base will support approximately 100 launches in 2026 by multiple operators including SpaceX, United Launch Alliance, Firefly Aerospace, Northrup Grumman, and the Air Force, with several others in the development phase. Lompoc has a stable economy with a mild Mediterranean climate and attractive, affordable housing options. This offering provides a stable, attractive return for an investor with a national credit tenant.
Key Highlights
- Net leased to a national credit tenant since 2012, providing stable, attractive return.
- Functions as corporate headquarters and FDA Certified manufacturing/distribution for tenant.
- Located in Lompoc, CA, near Vandenberg Space Force Base and SpaceX launch operations.
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
$607,446
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
5.06%
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%
$12,148,920
$12.1M
Cap Rate 7%
$8,677,800
$8.7M
Cap Rate 9%
$6,749,400
$6.7M
Market Conditions
NOI Build-Up for 81,687 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
$833.2K $10.20/SF
− Vacancy
−$118.6K −$1.45/SF
EGI
$714.6K $8.75/SF
− OpEx
−$107.2K −$1.31/SF
NOI
$607.4K $7.44/SF
Area
Santa Barbara County, CA
Vacancy
14.23%
Lease Rate
$10.20 /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%
$12,148,920
Cap Rate 7%
$8,677,800
Cap Rate 9%
$6,749,400
Alternative Uses
Best Use
Warehouse
$8.68M
$7.59M – $10.12M
NOI $607,446 @ 7.0% cap · market cap 5.06%
Second Best
Industrial
$7.15M
$6.25M – $8.34M
NOI $500,249 @ 7.0% cap · market cap 4.17%
Theoretical Best
Multifamily LT 5
$25.64M
$22.43M – $29.91M
NOI $1,794,673 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 93436, CA
56,730
Population
18,928
Households
3
Avg Household Size
37
Median Age
17%
College-Educated
76%
High-School Grad
228.0 sq mi
ZIP Area
249
Density / Sq Mi
$76,241
Median Household Income
$36,340
Median Earnings
$1,578
Median Rent
$460,100
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?
Manufacturing property - 81,687 sq ft industrial building on 5.9 acres.
Where is this manufacturing property located?
The property is located at 1017 W Central Ave Lompoc, CA.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Net leased to a national credit tenant since 2012, providing stable, attractive return.; Functions as corporate headquarters and FDA Certified manufacturing/distribution for tenant.; Located in Lompoc, CA, near Vandenberg Space Force Base and SpaceX launch operations.
