Freestanding Industrial Building in
For Sale
$16,950,000
1141 California Avenue, Corona, CA 92881
49,861 SF building on 2.52 acres near I-15.
Property Size49,861 SF
Lot Size2.52 Acres
Price / SF$339.95
Days on Market123
Property Features for 1141 California Avenue
General Information
Standard status
Active
Size
49,861 SF
Lot size
2.52 Acres
Property subtype
Commercial
Building Details
Year Built
1989
Listing Agency:
PINNACLE REAL ESTATE GROUP
(951) 226-5454
Listed By:
Wei-Ling Hsu (chsu552@gmail.com) · License #00976802
Source:
Mrmurrieta
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 7:05AM
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 PINNACLE REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This well-maintained freestanding building offers approximately 49,861 square feet of space on a 2.52-acre lot. The property includes approximately 2,169 square feet of two-story office space. It features a 24-foot clearance height, six exterior high docks, and four drive-in ground-level doors. The building provides 360-degree drive-around capability and includes an approximately 7,000 square foot paved, fenced yard. Located in a prime area of Corona within the Inland Empire's industrial corridor, the property offers immediate access to the I-15 and SR-91 freeways. The location has a walk score of 54, indicating it is somewhat walkable, a bike score of 38, indicating it is somewhat bikeable, and a transit score of 21, indicating minimal transit options.
Key Highlights
- Freestanding 49,861 SF building on a 2.52‑acre lot.
- Immediate access to I‑15 and SR‑91 Freeway in a prime Corona location.
- Features 2,169 SF of high‑image office space.
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
$515,804
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
3.04%
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%
$10,316,080
$10.3M
Cap Rate 7%
$7,368,629
$7.4M
Cap Rate 9%
$5,731,156
$5.7M
Market Conditions
NOI Build-Up for 49,861 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
$658.2K $13.20/SF
− Vacancy
−$51.3K −$1.03/SF
EGI
$606.8K $12.17/SF
− OpEx
−$91.0K −$1.83/SF
NOI
$515.8K $10.34/SF
Area
Corona, CA
Vacancy
7.80%
Lease Rate
$13.20 /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%
$10,316,080
Cap Rate 7%
$7,368,629
Cap Rate 9%
$5,731,156
Alternative Uses
Best Use
Warehouse
$7.37M
$6.45M – $8.60M
NOI $515,804 @ 7.0% cap · market cap 3.04%
Second Best
Industrial
$6.62M
$5.79M – $7.72M
NOI $463,396 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$15.51M
$13.57M – $18.09M
NOI $1,085,614 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92881, CA
31,590
Population
9,362
Households
3.4
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
32.4 sq mi
ZIP Area
975
Density / Sq Mi
$132,598
Median Household Income
$60,271
Median Earnings
$2,150
Median Rent
$723,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- omega — 1101 California Ave, Corona, CA 92881
- US Storage Centers — 1512 Circle City Dr, Corona, CA 92879
- Nasco Gourmet Foods — Olympic Dr, Corona, CA 92881
Frequently Asked Questions
What type of property is this?
Warehouse - 49,861 SF building on 2.52 acres near I-15.
Where is this warehouse located?
The property is located at 1141 California Avenue Corona, CA.
What is the asking price?
The asking price for this property is $16,950,000.
What are key features of this property?
This property features: Freestanding 49,861 SF building on a 2.52‑acre lot.; Immediate access to I‑15 and SR‑91 Freeway in a prime Corona location.; Features 2,169 SF of high‑image office space.
