Freestanding Flex
New
For Sale
$2,100,000
1129 - 1133 East Elm Avenue, Fullerton, CA 92831
Divisible freestanding facility with a secured yard and ground-level loading access.
Property Size5,406 SF
Days on Market3
Property Features for 1129 - 1133 East Elm Avenue
General Information
Standard status
Active
Size
5,406 SF
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14 ft
Office Build-Out
1,200 SF
Drive-In Doors
2
Amenities
Fenced Yard Area
New LED Lighting
2 Ground Level Loading Doors
Building Details
Building Size
5,406 SF
Buildings
1
Listing Agency:
Lee & Associates
(562) 568-2032
Listed By:
Steve Coulter · License #CalDRE #01229849
Source:
Lee-associates
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 3:46AM
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 combines approximately 1,200 SF of office area with warehouse space offering approximately 14' of clearance. The building has two ground-level loading doors, updated LED lighting, and a roof coating completed in 2025. A fenced yard provides secured exterior area, while the divisible configuration supports separate occupancy or operational layouts.
Located at 1129–1133 East Elm Avenue in Fullerton, California, the property offers a combination of office, warehouse, loading, and yard components within one commercial facility.
Located at 1129–1133 East Elm Avenue in Fullerton, California, the property offers a combination of office, warehouse, loading, and yard components within one commercial facility.
Key Highlights
- ±1,200 SF of office area
- ±14' warehouse clearance
- 2 ground level loading doors
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
Property Profile
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 freestanding facility with a secured yard and ground-level loading access.
Where is this flex space located?
The property is located at 1129 - 1133 East Elm Avenue 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: ±1,200 SF of office area; ±14' warehouse clearance; 2 ground level loading doors
