Vista Commercial Storage
For Sale
Contact for pricing
Pending
1204 Monique Ct, Vista, CA 92084
Commercial storage facility with 21 units and 3 parking spaces.
Property Size4,360 SF
Days on Market152
Property Features for 1204 Monique Ct
General Information
Standard status
Pending
Size
4,360 SF
Class
C
Property subtype
Self Storage
Zoning
R-M (15)
Occupancy
76%
Investment Type
Value Add
Building Details
Units
21
Listing Agency:
Doherty Real Estate Group by eXp
Listed By:
Devin Doherty · License #01323878
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:29AM
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 Doherty Real Estate Group by eXp
Investment Insights
Based on property information with market context.
Located in Vista, CA, the commercial storage facility at 1204 Monique Ct features 21 units and 3 parking spaces. The property, with a size of 4360 square feet, is situated in an established commercial district, providing accessibility to E. Vista Way and SR-78. The Pro Forma NOI is $68,180. The property presents an opportunity for potential revenue increase through lease optimization. Immediate upside lies in leasing the five vacant units and adjusting current rents to market rates.
Key Highlights
- Pro Forma NOI of $68,180 indicates strong income potential.
- Opportunity for a 40% revenue increase through lease optimization.
- 21 storage units and 3 parking spaces provide immediate income streams.
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
$49,882
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
6.44%
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%
$997,640
$997.6K
Cap Rate 7%
$712,600
$712.6K
Cap Rate 9%
$554,244
$554.2K
Market Conditions
NOI Build-Up for 4,360 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
$78.5K $18.00/SF
− Vacancy
−$7.2K −$1.66/SF
EGI
$71.3K $16.34/SF
− OpEx
−$21.4K −$4.90/SF
NOI
$49.9K $11.44/SF
Area
San Diego County, CA
Vacancy
9.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$997,640
Cap Rate 7%
$712,600
Cap Rate 9%
$554,244
Alternative Uses
Best Use
Self Storage
$1.50M
$1.32M – $1.75M
NOI $105,240 @ 7.0% cap · market cap 13.58%
Second Best
Industrial
$712.6K
$623.5K – $831.4K
NOI $49,882 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,833 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 92084, CA
49,941
Population
15,712
Households
3.2
Avg Household Size
37
Median Age
27%
College-Educated
83%
High-School Grad
28.3 sq mi
ZIP Area
1,765
Density / Sq Mi
$97,410
Median Household Income
$42,000
Median Earnings
$1,936
Median Rent
$745,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Commercial storage facility with 21 units and 3 parking spaces.
Where is this self storage facility located?
The property is located at 1204 Monique Ct Vista, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Pro Forma NOI of $68,180 indicates strong income potential.; Opportunity for a 40% revenue increase through lease optimization.; 21 storage units and 3 parking spaces provide immediate income streams.
