Freestanding Flex Space with Fenced
New
For Sale
Contact for pricing
1129-1133 E Elm Ave, Fullerton, CA 92831
Divisible commercial building combining office accommodation, warehouse clearance, loading access, and a secured outdoor yard.
Property Size5,406 SF
Price / SF$388.46
Days on Market7
Property Features for 1129-1133 E Elm Ave
General Information
Standard status
Active
Size
5,406 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
14 ft
Office Build-Out
1,200 SF
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Amenities
Fenced Yard Area
Building Details
Buildings
1
Listing Agency:
Lee & Associates
(562) 568-2032
Listed By:
Steve Coulter · License #01215727
(562) 568-2032
Source:
Moodyscre
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 10 at 9:11AM
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
Investment Insights
Based on property information with market context.
This freestanding flex property contains 5,406 square feet and is configured for division between office and warehouse functions. Approximately 1,200 SF is dedicated to office area, while the warehouse portion provides approximately 14 feet of clearance. Two ground-level loading doors support receiving and dispatch operations, and new LED lighting updates the interior. A roof coating was added in 2025.
The property includes a fenced yard area and is located at 1129-1133 E Elm Ave in Fullerton, California. Its combination of divisible space, office improvements, warehouse capacity, ground-level loading, and outdoor storage area provides a practical layout for a range of flex-oriented commercial uses.
The property includes a fenced yard area and is located at 1129-1133 E Elm Ave in Fullerton, California. Its combination of divisible space, office improvements, warehouse capacity, ground-level loading, and outdoor storage area provides a practical layout for a range of flex-oriented commercial uses.
Key Highlights
- 5,406‑square‑foot freestanding flex property at 1129‑1133 E Elm Ave, Fullerton, CA 92831
- Divisible building with ±1,200 SF of office area
- Warehouse clearance of ±14'
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
$89,634
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
4.27%
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%
$1,792,680
$1.8M
Cap Rate 7%
$1,280,486
$1.3M
Cap Rate 9%
$995,933
$995.9K
Market Conditions
NOI Build-Up for 5,406 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
$142.7K $26.40/SF
− Vacancy
−$23.2K −$4.29/SF
EGI
$119.5K $22.11/SF
− OpEx
−$29.9K −$5.53/SF
NOI
$89.6K $16.58/SF
Area
Fullerton, CA
Vacancy
16.26%
Lease Rate
$26.40 /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%
$1,792,680
Cap Rate 7%
$1,280,486
Cap Rate 9%
$995,933
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,634 @ 7.0% cap · market cap 4.27%
Second Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,817 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,685 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,828
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92831, CA
38,953
Population
13,691
Households
2.8
Avg Household Size
31
Median Age
44%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
6,602
Density / Sq Mi
$89,451
Median Household Income
$41,878
Median Earnings
$2,093
Median Rent
$821,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Divisible commercial building combining office accommodation, warehouse clearance, loading access, and a secured outdoor yard.
Where is this flex space located?
The property is located at 1129-1133 E Elm Ave Fullerton, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 5,406‑square‑foot freestanding flex property at 1129‑1133 E Elm Ave, Fullerton, CA 92831; Divisible building with ±1,200 SF of office area; Warehouse clearance of ±14'
