Industrial Condo Near 5
For Sale
$2,750,000
27935 Smyth Drive, Santa Clarita, CA 91355
10,587 SF industrial condo for sale near 5 Freeway.
Property Size10,587 SF
Price / SF$259.75
Days on Market277
Property Features for 27935 Smyth Drive
General Information
Standard status
Active
Size
10,587 SF
Property subtype
Industrial
Building Details
Building Size
10,587 SF
Year Built
2001
Listing Agency:
Lee & Associates - LA North - Calabasas
(818) 581-7061
Listed By:
Brett Saunders · License ##01991011
(818) 581-7061
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 27
Last Checked: Aug 29 at 8:53AM
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 - LA North - Calabasas
Investment Insights
Based on property information with market context.
This is an approximately 10,587 square foot industrial condo available for sale. The property features industrial zoning and a warehouse clearance of 21 feet. It is located in close proximity to the 5 Freeway and Valencia Country Club. This property presents an owner/user opportunity.
Key Highlights
- Approximately 10,587 SF Industrial Condo
- Benefit from 21’ Warehouse Clearance
- Close Proximity to 5 Freeway
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
$156,145
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
5.68%
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%
$3,122,900
$3.1M
Cap Rate 7%
$2,230,643
$2.2M
Cap Rate 9%
$1,734,944
$1.7M
Market Conditions
NOI Build-Up for 10,587 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
$188.0K $17.76/SF
− Vacancy
−$4.3K −$0.41/SF
EGI
$183.7K $17.35/SF
− OpEx
−$27.6K −$2.60/SF
NOI
$156.1K $14.75/SF
Area
Santa Clarita, CA
Vacancy
2.30%
Lease Rate
$17.76 /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%
$3,122,900
Cap Rate 7%
$2,230,643
Cap Rate 9%
$1,734,944
Alternative Uses
Best Use
Warehouse
$2.23M
$1.95M – $2.60M
NOI $156,145 @ 7.0% cap · market cap 5.68%
Second Best
Industrial
$1.84M
$1.61M – $2.14M
NOI $128,590 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,724 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,910
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91355, CA
32,886
Population
12,338
Households
2.7
Avg Household Size
42
Median Age
49%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
2,491
Density / Sq Mi
$109,348
Median Household Income
$65,609
Median Earnings
$2,704
Median Rent
$744,300
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
- Triscenic Productions Services — 24911 Avenue Stanford, Santa Clarita, CA 91355
- Valencia Self Storage — 27815 Smyth Dr, Valencia, CA 91355
- Public Storage — 28111 Kelly Johnson Pkwy, Valencia, CA 91355
Frequently Asked Questions
What type of property is this?
Warehouse - 10,587 SF industrial condo for sale near 5 Freeway.
Where is this warehouse located?
The property is located at 27935 Smyth Drive Santa Clarita, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Approximately 10,587 SF Industrial Condo; Benefit from **21’ Warehouse Clearance**; Close Proximity to 5 Freeway
