McKinleyville Self-Storage and Industrial
For Sale
Contact for pricing
1400 Glendale Dr, McKinleyville, CA
Self-storage and industrial property near Cal Poly Humboldt.
Property Size28,348 SF
Lot Size1.72 Acres
Price / SF$183.65
Days on Market1476
Property Features for 1400 Glendale Dr
General Information
Standard status
Active
Size
28,348 SF
Lot size
1.72 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Matthews Real Estate Investment Services - Orange County
(866) 889-0550
Listed By:
Shane Avera
(949) 485-1865
Source:
Moodyscre
Added: Aug 30, 2022
Changed: Sep 10
Last Checked: Sep 13 at 9:17AM
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 Matthews Real Estate Investment Services - Orange County
Investment Insights
Based on property information with market context.
This property, located in McKinleyville, California, comprises self-storage and industrial facilities. The property is situated in close proximity to Cal Poly Humboldt, which has over 8,000 students. Recent capital improvements include updated fencing and a new security system. The property has recently expanded with the addition of 40 portable units, demonstrating strong lease-up and market demand for storage. The property size is 28,348 square feet. Below-market rents present an opportunity for investors to increase rates and cash flow.
Key Highlights
- Upside: Below market rents offer immediate cashflow increase potential.
- Recent Expansion: 40 portable units added, demonstrating strong market demand.
- Location: Close proximity to Cal Poly Humboldt (8,000+ students).
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
$226,217
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
4.35%
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%
$4,524,340
$4.5M
Cap Rate 7%
$3,231,671
$3.2M
Cap Rate 9%
$2,513,522
$2.5M
Market Conditions
NOI Build-Up for 28,348 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
$340.2K $12.00/SF
− Vacancy
−$17.0K −$0.60/SF
EGI
$323.2K $11.40/SF
− OpEx
−$97.0K −$3.42/SF
NOI
$226.2K $7.98/SF
Area
Humboldt County, CA
Vacancy
5.00%
Lease Rate
$12.00 /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%
$4,524,340
Cap Rate 7%
$3,231,671
Cap Rate 9%
$2,513,522
Alternative Uses
Best Use
Self Storage
$3.23M
$2.83M – $3.77M
NOI $226,217 @ 7.0% cap · market cap 4.35%
Second Best
Industrial
$2.36M
$2.07M – $2.76M
NOI $165,377 @ 7.0% cap · market cap 3.18%
Theoretical Best
Flex RnD
$10.71M
$9.37M – $12.49M
NOI $749,379 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage and industrial property near Cal Poly Humboldt.
Where is this self storage facility located?
The property is located at 1400 Glendale Dr McKinleyville, CA.
What is the asking price?
The asking price for this property is $5,206,000.
What are key features of this property?
This property features: Upside: Below market rents offer immediate cashflow increase potential.; Recent Expansion: **40 portable units added, demonstrating strong market demand.**; Location: Close proximity to Cal Poly Humboldt (8,000+ students).
