High Clear Manufacturing
For Sale
$11,520,737
10220 Norris Avenue, Pacoima, CA 91331
Manufacturing building suitable for single or multi-tenant occupancy.
Property Size60,000 SF
Price / SF$192.01
Days on Market145
Property Features for 10220 Norris Avenue
General Information
Standard status
Active
Size
60,000 SF
Property subtype
Industrial
Listing Agency:
(818) 406-3658
Listed By:
Greg Barsamian · License #00873206
(818) 406-3658
Source:
Cbre
Added: Mar 25
Changed: Aug 15
Last Checked: Aug 15 at 12:21PM
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 Greg Barsamian
Investment Insights
Based on property information with market context.
This 60,000-square-foot manufacturing building, characterized by high ceilings, is currently configured for multi-tenant occupancy. The property can be converted for single-tenant or owner/user occupancy.
Key Highlights
- High clear manufacturing building
- Can be converted to single tenant or owner/user occupancy
- Currently subdivided for multi‑tenant occupancy
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
$745,356
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
6.47%
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%
$14,907,120
$14.9M
Cap Rate 7%
$10,647,943
$10.6M
Cap Rate 9%
$8,281,733
$8.3M
Market Conditions
NOI Build-Up for 60,000 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
$1.14M $18.96/SF
− Vacancy
−$72.8K −$1.21/SF
EGI
$1.06M $17.75/SF
− OpEx
−$319.4K −$5.32/SF
NOI
$745.4K $12.42/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /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%
$14,907,120
Cap Rate 7%
$10,647,943
Cap Rate 9%
$8,281,733
Alternative Uses
Best Use
Industrial
$10.65M
$9.32M – $12.42M
NOI $745,356 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1,215.56M
$1,063.62M – $1,418.16M
NOI $85,089,478 @ 7.0% cap · market cap 738.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
Explore this area
Business Placement
Demographics for 91331, CA
100,720
Population
23,926
Households
4.2
Avg Household Size
35
Median Age
11%
College-Educated
58%
High-School Grad
9.3 sq mi
ZIP Area
10,830
Density / Sq Mi
$82,025
Median Household Income
$34,759
Median Earnings
$1,818
Median Rent
$609,300
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?
Manufacturing property - Manufacturing building suitable for single or multi-tenant occupancy.
Where is this manufacturing property located?
The property is located at 10220 Norris Avenue Pacoima, CA.
What is the asking price?
The asking price for this property is $11,520,737.
What are key features of this property?
This property features: High clear manufacturing building; Can be converted to single tenant or owner/user occupancy; Currently subdivided for multi‑tenant occupancy
