Industrial Warehouse with Secured
For Sale
Contact for pricing
115 W Chapel St, Santa Maria, CA 93458
Warehouse property includes a secured yard with alley access and sliding industrial door, plus 12 off-street parking spaces.
Property Size5,000 SF
Lot Size0.33 Acres
Price / SF$199
Days on Market502
Property Features for 115 W Chapel St
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
12
Lot size
0.33 Acres
Property subtype
INDUSTRIAL
Zoning
C2
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Buildings
1
Building Size
5,000 SF
Listing Agency:
McCarty Davis Commercial Real Estate
(805) 543-1801
Listed By:
Steve Davis · License #01843738
(805) 704-5727
Source:
Moodyscre
Added: Apr 29, 2025
Changed: Aug 8
Last Checked: Sep 12 at 7:42AM
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 McCarty Davis Commercial Real Estate
Investment Insights
Based on property information with market context.
This industrial warehouse property features an approximately 5,000 square foot building on an approximately 14,375 square foot parcel. A key improvement is a roughly 2,151 square foot secured yard with alley access, served by a sliding industrial door into the yard area.
The property is zoned C2 and located within the Downtown Specific Plan, Bungalow District. It also provides 12 off-street parking spaces, supporting on-site staging and employee parking.
The parcel is identified as APN 119-275-017. The overall configuration combines warehouse space with a dedicated secured outdoor yard for storage and controlled access needs.
The property is zoned C2 and located within the Downtown Specific Plan, Bungalow District. It also provides 12 off-street parking spaces, supporting on-site staging and employee parking.
The parcel is identified as APN 119-275-017. The overall configuration combines warehouse space with a dedicated secured outdoor yard for storage and controlled access needs.
Key Highlights
- +/- 5,000 SF building on a +/- 14,375 SF parcel (APN: 119‑275‑017).
- +/- 2,151 SF secured yard with alley access for secure operations.
- Sliding industrial door providing access to the secured yard 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
$53,015
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
5.33%
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%
$1,060,300
$1.1M
Cap Rate 7%
$757,357
$757.4K
Cap Rate 9%
$589,056
$589.1K
Market Conditions
NOI Build-Up for 5,000 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
$66.0K $13.20/SF
− Vacancy
−$3.6K −$0.73/SF
EGI
$62.4K $12.47/SF
− OpEx
−$9.4K −$1.87/SF
NOI
$53.0K $10.60/SF
Area
Santa Maria, CA
Vacancy
5.50%
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%
$1,060,300
Cap Rate 7%
$757,357
Cap Rate 9%
$589,056
Alternative Uses
Best Use
Warehouse
$757.4K
$662.7K – $883.6K
NOI $53,015 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,272 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,846
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93458, CA
59,927
Population
14,433
Households
4.2
Avg Household Size
28
Median Age
9%
College-Educated
50%
High-School Grad
28.4 sq mi
ZIP Area
2,110
Density / Sq Mi
$73,518
Median Household Income
$30,278
Median Earnings
$1,825
Median Rent
$460,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
- Central Coast Moving & Storage — 614 S Broadway, Santa Maria, CA 93454
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property includes a secured yard with alley access and sliding industrial door, plus 12 off-street parking spaces.
Where is this warehouse located?
The property is located at 115 W Chapel St Santa Maria, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: +/- 5,000 SF building on a +/- 14,375 SF parcel (APN: 119‑275‑017).; +/- 2,151 SF secured yard with alley access for secure operations.; Sliding industrial door providing access to the secured yard space.
