Operational Self Storage
For Sale
$13,500,000
23529 Figueroa St, Carson, CA 90745
Income-producing storage and vehicle parking property with indoor and outdoor units in a mixed-use redevelopment corridor.
Property Size39,600 SF
Lot Size3.21 Acres
Price / SF$340.91
Days on Market106
Property Features for 23529 Figueroa St
General Information
Standard status
Active
Size
39,600 SF
Lot size
3.21 Acres
Property subtype
Industrial
Zoning
Corridor Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
credit for a new roof
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Warehouse Space
39,600 SF
Building Details
Buildings
1
Building Size
39,600 SF
Listing Agency:
Coldwell Banker Commercial BLAIR
(562) 495-6070
Listed By:
Linda Treffry · License #01991392
Source:
Commercialcafe
Added: May 18
Changed: Aug 30
Last Checked: Aug 30 at 4:18PM
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 Coldwell Banker Commercial BLAIR
Investment Insights
Based on property information with market context.
The property is a self storage and vehicle parking facility on ±3.21 acres, with a ±39,600-square-foot storage building and a combination of indoor and outdoor units. The existing operation accommodates RV and vehicle parking and is leased through July 13, 2027. Current use is legally nonconforming, providing an established operating configuration alongside future land-use considerations.
Located on Figueroa Street in the City of Carson, the site offers freeway access via the Harbor (110) Freeway and frontage along a visible commercial corridor. A separate billboard lease covers the southwest corner through November 11, 2028. Corridor Mixed Use zoning allows 40 DU/acre with density bonus provisions, and the property is included in the City of Carson Housing Element adopted in November 2022.
Located on Figueroa Street in the City of Carson, the site offers freeway access via the Harbor (110) Freeway and frontage along a visible commercial corridor. A separate billboard lease covers the southwest corner through November 11, 2028. Corridor Mixed Use zoning allows 40 DU/acre with density bonus provisions, and the property is included in the City of Carson Housing Element adopted in November 2022.
Key Highlights
- ±3.21‑acre self storage and vehicle parking facility
- ±39,600‑square‑foot storage building with indoor and outdoor units
- RV and vehicle parking included in the existing operation
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
$515,273
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
3.82%
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%
$10,305,460
$10.3M
Cap Rate 7%
$7,361,043
$7.4M
Cap Rate 9%
$5,725,256
$5.7M
Market Conditions
NOI Build-Up for 39,600 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
$636.8K $16.08/SF
− Vacancy
−$30.6K −$0.77/SF
EGI
$606.2K $15.31/SF
− OpEx
−$90.9K −$2.30/SF
NOI
$515.3K $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%
$10,305,460
Cap Rate 7%
$7,361,043
Cap Rate 9%
$5,725,256
Alternative Uses
Best Use
Warehouse
$7.36M
$6.44M – $8.59M
NOI $515,273 @ 7.0% cap · market cap 3.82%
Second Best
Self Storage
$5.11M
$4.47M – $5.96M
NOI $357,671 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$21.20M
$18.55M – $24.74M
NOI $1,484,118 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,335
Businesses Nearby
Explore this area
Business Placement
Demographics for 90745, CA
59,937
Population
16,638
Households
3.6
Avg Household Size
42
Median Age
28%
College-Educated
81%
High-School Grad
8.2 sq mi
ZIP Area
7,309
Density / Sq Mi
$106,457
Median Household Income
$42,404
Median Earnings
$1,838
Median Rent
$628,400
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 - Income-producing storage and vehicle parking property with indoor and outdoor units in a mixed-use redevelopment corridor.
Where is this self storage facility located?
The property is located at 23529 Figueroa St Carson, CA.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: ±3.21‑acre self storage and vehicle parking facility; ±39,600‑square‑foot storage building with indoor and outdoor units; RV and vehicle parking included in the existing operation
