Flex Warehouse with Three
For Sale
$799,990
13659 Magnolia Avenue, Corona, CA 92879
COMMERCIAL - Corona, CA
Property Size3,600 SF
Price / SF$222.22
Days on Market117
Property Features for 13659 Magnolia Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From 91 Fwy, exit McKinley Ave, go south to Magnolia Ave. Property on right. From I-15, exit Magnolia Ave, head east. Property on left, just south of 91 Fwy.
Subdivision
248 - Corona
Standard status
Active
APN
115261017
Building Details
Year built
1964
Listing Agency:
Pinnacle Real Estate Group
(626) 888-9808
Listed By:
LITING ZHANG · License #02121195
(909) 780-1888
Added: Apr 20
Changed: Aug 4
Last Checked: Aug 14 at 10:06AM
MLS# WS26086905
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,600 sq. ft. Corona commercial building offers a flexible layout with three suites in the front portion, and a spacious warehouse area at the rear. Each suite has its own restroom, and the property features multiple entrances; three entrances are present, with two currently closed. The front section is divisible into the three suites, supporting a multi-tenant configuration.
Located near McKinley and just south of the 91 Freeway, the property is positioned for strong visibility and high-traffic exposure. The site also benefits from a shared driveway easement with the adjacent parcel, providing practical access for tenants and customers.
With the combination of divisible front suites and rear warehouse space, the building can be used for a range of flex and commercial needs, including auto repair, retail, office, showroom, warehouse, or multi-tenant use.
Located near McKinley and just south of the 91 Freeway, the property is positioned for strong visibility and high-traffic exposure. The site also benefits from a shared driveway easement with the adjacent parcel, providing practical access for tenants and customers.
With the combination of divisible front suites and rear warehouse space, the building can be used for a range of flex and commercial needs, including auto repair, retail, office, showroom, warehouse, or multi-tenant use.
Key Highlights
- 3,600 sq. ft. Corona commercial building built in 1964
- 3 suites plus a spacious rear warehouse area
- Each of the three front suites has its own restroom
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
$46,248
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
5.78%
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%
$924,960
$925.0K
Cap Rate 7%
$660,686
$660.7K
Cap Rate 9%
$513,867
$513.9K
Market Conditions
NOI Build-Up for 3,600 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
$77.8K $21.60/SF
− Vacancy
−$6.6K −$1.84/SF
EGI
$71.2K $19.76/SF
− OpEx
−$24.9K −$6.92/SF
NOI
$46.2K $12.85/SF
Area
Corona, CA
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$924,960
Cap Rate 7%
$660,686
Cap Rate 9%
$513,867
Alternative Uses
Best Use
Flex RnD
$660.7K
$578.1K – $770.8K
NOI $46,248 @ 7.0% cap · market cap 5.78%
Second Best
Warehouse
$532.0K
$465.5K – $620.7K
NOI $37,241 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.12M
$979.8K – $1.31M
NOI $78,382 @ 7.0% cap · market cap 9.80%
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
1,161
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92879, CA
47,243
Population
14,919
Households
3.2
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
9.8 sq mi
ZIP Area
4,821
Density / Sq Mi
$91,862
Median Household Income
$42,496
Median Earnings
$1,968
Median Rent
$592,000
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?
Flex space - Versatile commercial building includes three suites with restrooms and a rear warehouse area.
Where is this flex space located?
The property is located at 13659 Magnolia Avenue Corona, CA.
What is the asking price?
The asking price for this property is $799,990.
What are key features of this property?
This property features: 3,600 sq. ft. Corona commercial building built in 1964; 3 suites plus a spacious rear warehouse area; Each of the three front suites has its own restroom
