Shallow-Bay Industrial
For Sale
Contact for pricing
2222-2308 W 2nd St, Santa Ana, CA 92703
24,426 SF flex/industrial building with 15 shallow-bay units, fully leased, plus recent roof and interior/exterior upgrades.
Property Size24,426 SF
Price / SF$276.34
Days on Market555
Property Features for 2222-2308 W 2nd St
General Information
Standard status
Active
Size
24,426 SF
Property subtype
INDUSTRIAL
Occupancy
100%
Additional Details
Cap Rate
6.65%
Listing Agency:
Daum Commercial
(714) 322-1252
Listed By:
Devin Ray · License #01712620
(714) 322-1252
Source:
Moodyscre
Added: Jan 23, 2025
Changed: Jul 28
Last Checked: Aug 1 at 12:26PM
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 Daum Commercial
Investment Insights
Based on property information with market context.
This 24,426 SF flex/industrial property comprises 15 shallow-bay industrial units, with unit sizes ranging from 975 SF to 4,401 SF. The investment is reported as 100% leased. Several vacant units have been prepared as “white-boxed” space, including new paint, LVP office flooring, and bathroom fixtures.
Reported improvements include a new 60-mil TPO roof (20-year product), along with new skylights/security bars, new exterior paint, new interior/exterior LED lighting, and upgraded finishes within the office and bathroom areas for the vacant units.
The property presents a multi-unit configuration well suited for tenants seeking smaller industrial footprints within a single ownership structure, and it is offered as an investment sale based on the provided financial metrics in the remarks.
Reported improvements include a new 60-mil TPO roof (20-year product), along with new skylights/security bars, new exterior paint, new interior/exterior LED lighting, and upgraded finishes within the office and bathroom areas for the vacant units.
The property presents a multi-unit configuration well suited for tenants seeking smaller industrial footprints within a single ownership structure, and it is offered as an investment sale based on the provided financial metrics in the remarks.
Key Highlights
- 100% leased industrial investment sale (15 shallow‑bay units)
- 24,426 SF building with 15 units ranging from 975 SF to 4,401 SF
- CAP rate: 6.65%; NOI: $448,810.32
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $471.9k | $19.32 |
| − Vacancy | −$20.8k | −$0.85 |
| EGI | $451.1k | $18.47 |
| − OpEx | −$67.7k | −$2.77 |
| NOI | $383.5k | $15.70 |
24,426 SF · lease $19.32/SF/yr · vacancy 4.40% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$5.48M
$4.79M – $6.39M
NOI $383,474 @ 7.0% cap · market cap 5.68%
Second Best
Flex RnD
$5.30M
$4.64M – $6.18M
NOI $371,043 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$7.07M
$6.19M – $8.25M
NOI $494,876 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
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?
Flex space - 24,426 SF flex/industrial building with 15 shallow-bay units, fully leased, plus recent roof and interior/exterior upgrades.
Where is this flex space located?
The property is located at 2222-2308 W 2nd St Santa Ana, CA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 100% leased industrial investment sale (15 shallow‑bay units); 24,426 SF building with 15 units ranging from 975 SF to 4,401 SF; CAP rate: 6.65%; NOI: $448,810.32
