FDA-Certified Industrial Manufacturing
For Sale
Contact for pricing
1017 W Central Ave, Lompoc, CA 93436
Pre-engineered warehouse manufacturing space with 24-ft eave clearance, climate control, and a fully sprinklered system.
Property Size86,326 SF
Price / SF$139.01
Days on Market208
Property Features for 1017 W Central Ave
General Information
Standard status
Active
Size
86,326 SF
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates | Los Olivos
(805) 962-6700
Listed By:
Tom Davidson · License #595846
(805) 588-7777
Source:
Moodyscre
Added: Feb 16
Changed: Aug 16
Last Checked: Sep 12 at 10:06AM
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.
This well-maintained industrial facility is currently 100% occupied and features approximately 20,000 square feet of corporate headquarters office space. The warehouse is a pre-engineered building with a sloped steel roof system and 24-ft clearance at the eaves. A recently upgraded fully sprinklered system supports the warehouse, which is also described as climate controlled.
The loading and access configuration includes a loading dock area with 3 doors and 4 ground-level access doors. The property is described as an FDA-certified manufacturing facility with a fully fenced site and 298 parking spaces.
Power and utilities are supported by 2,000 amps of 3-phase service. The property is zoned BP (Business Park), described as an upgraded subset of industrial, and includes municipally owned electric, water, and sewer services.
The loading and access configuration includes a loading dock area with 3 doors and 4 ground-level access doors. The property is described as an FDA-certified manufacturing facility with a fully fenced site and 298 parking spaces.
Power and utilities are supported by 2,000 amps of 3-phase service. The property is zoned BP (Business Park), described as an upgraded subset of industrial, and includes municipally owned electric, water, and sewer services.
Key Highlights
- Approximately 20,000 SF corporate headquarters office space, 100% occupied by the current tenant since 2012
- Pre‑engineered building with sloped steel roof and 24‑ft clearance at the eaves
- Warehouse includes climate control and a recently upgraded fully sprinklered system
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
$641,942
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
5.35%
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%
$12,838,840
$12.8M
Cap Rate 7%
$9,170,600
$9.2M
Cap Rate 9%
$7,132,689
$7.1M
Market Conditions
NOI Build-Up for 86,326 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
$880.5K $10.20/SF
− Vacancy
−$125.3K −$1.45/SF
EGI
$755.2K $8.75/SF
− OpEx
−$113.3K −$1.31/SF
NOI
$641.9K $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%
$12,838,840
Cap Rate 7%
$9,170,600
Cap Rate 9%
$7,132,689
Alternative Uses
Best Use
Warehouse
$9.17M
$8.02M – $10.70M
NOI $641,942 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$7.55M
$6.61M – $8.81M
NOI $528,659 @ 7.0% cap · market cap 4.41%
Theoretical Best
Multifamily LT 5
$27.09M
$23.71M – $31.61M
NOI $1,896,592 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
509
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
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Pre-engineered warehouse manufacturing space with 24-ft eave clearance, climate control, and a fully sprinklered system.
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: Approximately 20,000 SF corporate headquarters office space, 100% occupied by the current tenant since 2012; Pre‑engineered building with sloped steel roof and 24‑ft clearance at the eaves; Warehouse includes climate control and a recently upgraded fully sprinklered system
