Freestanding Office
For Sale
Contact for pricing
2009 E 223rd St, Carson, CA 90810
Freestanding office building with 12 offices, HVAC, and 15-foot clear height.
Property Size40,488 SF
Price / SF$345.78
Days on Market484
Property Features for 2009 E 223rd St
General Information
Standard status
Active
Size
40,488 SF
Property subtype
RETAIL
Additional Details
Clear Height
15 ft
Office Units
12
Listing Agency:
Cushman & Wakefield
(562) 276-1400
Listed By:
Steve Bohannon
(310) 729-6957
Source:
Moodyscre
Added: May 12, 2025
Changed: Sep 6
Last Checked: Sep 6 at 6:18AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This freestanding office building offers a total of 8,400 square feet of office space configured with 12 offices. The property includes HVAC and a 15-foot clear height. The building also features a 14'x18' GL door and a 9'x9' DH door, supporting flexible loading or access needs within the improvements.
The property is available for occupancy beginning 7/1/25. It is being offered for sale.
With its office layout, HVAC systems, and door openings, the building is positioned for organizations that need dedicated office areas along with practical on-site access.
The property is available for occupancy beginning 7/1/25. It is being offered for sale.
With its office layout, HVAC systems, and door openings, the building is positioned for organizations that need dedicated office areas along with practical on-site access.
Key Highlights
- Freestanding office building with 12 offices and 8,400 SF total office space
- 15‑foot clear height
- HVAC included
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
$885,035
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
6.32%
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%
$17,700,700
$17.7M
Cap Rate 7%
$12,643,357
$12.6M
Cap Rate 9%
$9,833,722
$9.8M
Market Conditions
NOI Build-Up for 40,488 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
$1.55M $38.40/SF
− Vacancy
−$374.7K −$9.25/SF
EGI
$1.18M $29.15/SF
− OpEx
−$295.0K −$7.29/SF
NOI
$885.0K $21.86/SF
Area
Los Angeles County, CA
Vacancy
24.10%
Lease Rate
$38.40 /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%
$17,700,700
Cap Rate 7%
$12,643,357
Cap Rate 9%
$9,833,722
Alternative Uses
Best Use
Office B
$12.64M
$11.06M – $14.75M
NOI $885,035 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.68M
$18.97M – $25.29M
NOI $1,517,398 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
12
Office units
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 90810, CA
38,529
Population
10,294
Households
3.7
Avg Household Size
37
Median Age
21%
College-Educated
76%
High-School Grad
6.5 sq mi
ZIP Area
5,928
Density / Sq Mi
$82,222
Median Household Income
$39,397
Median Earnings
$1,554
Median Rent
$594,200
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?
Office building - Freestanding office building with 12 offices, HVAC, and 15-foot clear height.
Where is this office building located?
The property is located at 2009 E 223rd St Carson, CA.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: Freestanding office building with 12 offices and 8,400 SF total office space; 15‑foot clear height; HVAC included
