Warehouse with Fenced
For Sale
$40,621,500
16222 Phoebe Ave, La Mirada, CA 90638
Industrial warehouse offering a large fenced, paved yard with trailer parking and rail-capable setup.
Property Size181,957 SF
Days on Market74
Property Features for 16222 Phoebe Ave
General Information
Standard status
Active
Size
181,957 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Heavy Power
Yes
Building Details
Building Size
181,957 SF
Year Built
1964
Listing Agency:
Lee & Associates
(213) 590-3512
Listed By:
Jack Cline · License #CalDRE #00854279
(213) 590-3512
Source:
Lee-associates
Added: Jun 11
Changed: Aug 23
Last Checked: Aug 23 at 4:03AM
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
Investment Insights
Based on property information with market context.
This warehouse includes a large fenced and paved yard designed for equipment and vehicle staging, with trailer parking noted on-site. The property also features rail capability and racking, supporting a variety of storage and distribution layouts. Heavy power close proximity is cited in the offering, with additional building systems and specifications requiring buyer verification as part of due diligence.
Access and connectivity are supported by close proximity to major routes including the 5, 91, and 605 freeways. The offering materials also emphasize that buyers must confirm details such as permitted uses, zoning, parking, ADA compliance, and calculations affecting power and sprinkler requirements, along with building and roof condition, HVAC, floor load, and any encroachments.
For tenants or operators needing dependable yard space for trailers and material handling infrastructure that includes rail capability and racking, the property’s configuration is aligned with logistics and warehousing use. Prospective buyers should verify all operational and code requirements, including power and sprinkler calculation, permitted office sizing, and taxes, before waiving contingencies. Seller and buyer responsibilities for verification of tax implications and licensing are highlighted in the offering.
Access and connectivity are supported by close proximity to major routes including the 5, 91, and 605 freeways. The offering materials also emphasize that buyers must confirm details such as permitted uses, zoning, parking, ADA compliance, and calculations affecting power and sprinkler requirements, along with building and roof condition, HVAC, floor load, and any encroachments.
For tenants or operators needing dependable yard space for trailers and material handling infrastructure that includes rail capability and racking, the property’s configuration is aligned with logistics and warehousing use. Prospective buyers should verify all operational and code requirements, including power and sprinkler calculation, permitted office sizing, and taxes, before waiving contingencies. Seller and buyer responsibilities for verification of tax implications and licensing are highlighted in the offering.
Key Highlights
- Year built 1964 industrial warehouse with rail‑capable setup and racking.
- Large fenced and paved yard with trailer parking.
- Trailer parking plus rail capability for loading/storage operations.
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
$2,367,613
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
5.83%
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%
$47,352,260
$47.4M
Cap Rate 7%
$33,823,043
$33.8M
Cap Rate 9%
$26,306,811
$26.3M
Market Conditions
NOI Build-Up for 181,957 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
$2.93M $16.08/SF
− Vacancy
−$140.4K −$0.77/SF
EGI
$2.79M $15.31/SF
− OpEx
−$417.8K −$2.30/SF
NOI
$2.37M $13.01/SF
Area
Los Angeles County, CA
Vacancy
4.80%
Lease Rate
$16.08 /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%
$47,352,260
Cap Rate 7%
$33,823,043
Cap Rate 9%
$26,306,811
Alternative Uses
Best Use
Warehouse
$33.82M
$29.60M – $39.46M
NOI $2,367,613 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$97.42M
$85.24M – $113.66M
NOI $6,819,335 @ 7.0% cap · market cap 16.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
996
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90638, CA
46,967
Population
15,459
Households
3
Avg Household Size
43
Median Age
40%
College-Educated
91%
High-School Grad
7.7 sq mi
ZIP Area
6,100
Density / Sq Mi
$110,606
Median Household Income
$54,235
Median Earnings
$2,052
Median Rent
$765,100
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse offering a large fenced, paved yard with trailer parking and rail-capable setup.
Where is this warehouse located?
The property is located at 16222 Phoebe Ave La Mirada, CA.
What is the asking price?
The asking price for this property is $40,621,500.
What are key features of this property?
This property features: Year built 1964 industrial warehouse with rail‑capable setup and racking.; Large fenced and paved yard with trailer parking.; Trailer parking plus rail capability for loading/storage operations.
