Flex Industrial Building with
For Sale
Contact for pricing
11 Vanderbilt, Irvine, CA 92618
Includes a two-story office component and dock-high loading access.
Property Size24,599 SF
Price / SF$325.01
Days on Market285
Property Features for 11 Vanderbilt
General Information
Standard status
Active
Size
24,599 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
14 ft
Office Build-Out
14,000 SF
Dock-High Doors
1
Additional Details
Highway Access
Yes
Building Details
Stories
2
Listing Agency:
Voit Real Estate Services
Listed By:
Sam Olmstead · License #01186543
(949) 851-5100
Source:
Moodyscre
Added: Dec 4, 2025
Changed: Sep 12
Last Checked: Sep 15 at 7:07AM
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 Voit Real Estate Services
Investment Insights
Based on property information with market context.
This flex industrial building contains 24,599 SF, including 14,000 SF of two-story office space. The property features tenant improvements, a dock-high loading door, ground-level loading capability, and 14' warehouse clear height.
Located at 11 Vanderbilt in Irvine Spectrum, the property offers immediate access to the 5, 405, and 133 Freeways. Its combination of office space, warehouse capacity, and loading functionality supports a range of flex industrial operations.
Located at 11 Vanderbilt in Irvine Spectrum, the property offers immediate access to the 5, 405, and 133 Freeways. Its combination of office space, warehouse capacity, and loading functionality supports a range of flex industrial operations.
Key Highlights
- 24,599 SF flex industrial building
- 14,000 SF of 2‑story office space
- 1 dock‑high loading door; ground‑level loading possible
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
$408,544
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
5.11%
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%
$8,170,880
$8.2M
Cap Rate 7%
$5,836,343
$5.8M
Cap Rate 9%
$4,539,378
$4.5M
Market Conditions
NOI Build-Up for 24,599 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
$652.4K $26.52/SF
− Vacancy
−$107.6K −$4.38/SF
EGI
$544.7K $22.14/SF
− OpEx
−$136.2K −$5.54/SF
NOI
$408.5K $16.61/SF
Area
ZIP 92618
Vacancy
16.50%
Lease Rate
$26.52 /SF/Yr
Expense Ratio
25.00%
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%
$8,170,880
Cap Rate 7%
$5,836,343
Cap Rate 9%
$4,539,378
Alternative Uses
Best Use
Office B
$5.84M
$5.11M – $6.81M
NOI $408,544 @ 7.0% cap · market cap 5.11%
Second Best
Warehouse
$5.52M
$4.83M – $6.44M
NOI $386,190 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$8.10M
$7.09M – $9.45M
NOI $567,044 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92618, CA
57,488
Population
26,470
Households
2.2
Avg Household Size
35
Median Age
72%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
2,777
Density / Sq Mi
$135,609
Median Household Income
$85,192
Median Earnings
$3,053
Median Rent
$1,153,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Includes a two-story office component and dock-high loading access.
Where is this flex space located?
The property is located at 11 Vanderbilt Irvine, CA.
What is the asking price?
The asking price for this property is $7,995,000.
What are key features of this property?
This property features: 24,599 SF flex industrial building; 14,000 SF of 2‑story office space; 1 dock‑high loading door; ground‑level loading possible
