Corner Flex Industrial
For Sale
$3,300,000
10703 Progress Way, Cypress, CA 90630
Freestanding industrial building with office configuration on a unique corner lot and zoning support for office and industrial uses.
Property Size7,962 SF
Lot Size0.47 Acres
Price / SF$414.47
Days on Market110
Property Features for 10703 Progress Way
General Information
Standard status
Active
Size
7,962 SF
Lot size
0.47 Acres
Property subtype
Industrial
Zoning
BP
Building Details
Building Size
7,962 SF
Year Built
1978
Listing Agency:
Lee & Associates
Listed By:
Brett Leiter · License #CalDRE #02125806
(714) 306-2089
Source:
Lee-associates
Added: Jul 3
Changed: Oct 7
Last Checked: Oct 19 at 4:29AM
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
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Investment Insights
Based on property information with market context.
Freestanding industrial building offering approximately 7,962 square feet, currently configured for office use. The layout includes the flexibility to convert to industrial use, supporting a range of operating requirements.
Set on a 0.47-acre unique corner lot, the property is located within Business Park (BP) zoning, which allows for multiple office and industrial uses.
This offering is presented for sale and is suited for users or investors seeking a single-site property with functional flexibility between office and industrial configurations.
Set on a 0.47-acre unique corner lot, the property is located within Business Park (BP) zoning, which allows for multiple office and industrial uses.
This offering is presented for sale and is suited for users or investors seeking a single-site property with functional flexibility between office and industrial configurations.
Key Highlights
- ±7,962 SF free‑standing industrial building available for sale at 10703 Progress Way, Cypress, CA
- Currently configured for office use with the ability to be converted to industrial
- Located on a 0.47‑acre unique corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,571
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,131,420
$3.1M
Cap Rate 7%
$2,236,729
$2.2M
Cap Rate 9%
$1,739,678
$1.7M
Market Conditions
NOI Build-Up for 7,962 SF
Gross rent
$237.9K $29.88/SF
− Vacancy
−$29.1K −$3.66/SF
EGI
$208.8K $26.22/SF
− OpEx
−$52.2K −$6.55/SF
NOI
$156.6K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,131,420
Cap Rate 7%
$2,236,729
Cap Rate 9%
$1,739,678
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.61M
NOI $156,571 @ 7.0% cap · market cap 4.74%
Second Best
Flex RnD
$2.07M
$1.81M – $2.41M
NOI $144,864 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,199 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,304
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90630, CA
49,965
Population
16,544
Households
3
Avg Household Size
41
Median Age
49%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
8,059
Density / Sq Mi
$124,360
Median Household Income
$59,244
Median Earnings
$2,452
Median Rent
$866,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- BTacos Catering Service — Cypress, CA 90630
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building with office configuration on a unique corner lot and zoning support for office and industrial uses.
Where is this flex space located?
The property is located at 10703 Progress Way Cypress, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: ±7,962 SF free‑standing industrial building available for sale at 10703 Progress Way, Cypress, CA; Currently configured for office use with the ability to be converted to industrial; Located on a 0.47‑acre unique corner lot
