Corner Flex Building with Roll-Up
For Sale
$3,500,000
1401 N O Street, Lompoc, CA 93436
Freestanding flex building with office, service, and warehouse areas plus four roll-up doors on a prominent corner parcel.
Property Size7,680 SF
Lot Size2.20 Acres
Price / SF$455.73
Days on Market90
Property Features for 1401 N O Street
General Information
Standard status
Active
Size
7,680 SF
Lot size
2.20 Acres
Property subtype
Business Opportunity
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
4
Heavy Power
Yes
Sprinkler System
Yes
Listing Agency:
Berkshire Hathaway HomeServices - Santa Barbara
(805) 570-4965
Listed By:
Yolanda Van Wingerden · License #01196532
(805) 570-4965
Source:
Exprealty
Added: May 27
Changed: Aug 23
Last Checked: Aug 22 at 5:40AM
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 Berkshire Hathaway HomeServices - Santa Barbara
Investment Insights
Based on property information with market context.
The property is a freestanding flex building totaling 7,680 SF on a 2.20-acre corner parcel. The interior is configured for a combination of customer service space, administrative offices, and a stock room with high ceilings, along with a spacious warehouse area. The warehouse portion features four roll-up doors and approximately 18-foot ceilings. The building is fire sprinklered and includes 400 amp 3-phase power, as well as two ADA restrooms (at the time of construction).
The building sits in a high-profile, prominent corner location at the intersection of North O St and Central Ave in Lompoc, CA. It is identified as being across from Walmart, supporting convenient everyday accessibility for visitors and customers.
This setup can work well for tenants seeking a single-site operation that blends office and customer-facing functions with warehouse or storage requirements. The presence of multiple roll-up doors and substantial ceiling height can be beneficial for shipping, receiving, and handling inventory in the warehouse area, while the office and service zones support day-to-day administration. An existing equipment rental business is noted as available for purchase separately.
The building sits in a high-profile, prominent corner location at the intersection of North O St and Central Ave in Lompoc, CA. It is identified as being across from Walmart, supporting convenient everyday accessibility for visitors and customers.
This setup can work well for tenants seeking a single-site operation that blends office and customer-facing functions with warehouse or storage requirements. The presence of multiple roll-up doors and substantial ceiling height can be beneficial for shipping, receiving, and handling inventory in the warehouse area, while the office and service zones support day-to-day administration. An existing equipment rental business is noted as available for purchase separately.
Key Highlights
- Freestanding 7,680 SF flex building on a 2.20‑acre corner parcel at N O St and Central Ave in Lompoc, CA
- Includes customer service area, administrative offices, and a stock room with high ceilings
- Spacious warehouse with approx. 18' ceilings and 4 roll‑up doors
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
$98,476
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
2.81%
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%
$1,969,520
$2.0M
Cap Rate 7%
$1,406,800
$1.4M
Cap Rate 9%
$1,094,178
$1.1M
Market Conditions
NOI Build-Up for 7,680 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
$156.7K $20.40/SF
− Vacancy
−$5.2K −$0.67/SF
EGI
$151.5K $19.73/SF
− OpEx
−$53.0K −$6.90/SF
NOI
$98.5K $12.82/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$20.40 /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%
$1,969,520
Cap Rate 7%
$1,406,800
Cap Rate 9%
$1,094,178
Alternative Uses
Best Use
Flex RnD
$1.41M
$1.23M – $1.64M
NOI $98,476 @ 7.0% cap · market cap 2.81%
Second Best
Warehouse
$815.9K
$713.9K – $951.8K
NOI $57,110 @ 7.0% cap · market cap 1.63%
Theoretical Best
Multifamily LT 5
$2.41M
$2.11M – $2.81M
NOI $168,730 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
4
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93436, CA
56,730
Population
18,928
Households
3
Avg Household Size
37
Median Age
17%
College-Educated
76%
High-School Grad
228.0 sq mi
ZIP Area
249
Density / Sq Mi
$76,241
Median Household Income
$36,340
Median Earnings
$1,578
Median Rent
$460,100
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 - Freestanding flex building with office, service, and warehouse areas plus four roll-up doors on a prominent corner parcel.
Where is this flex space located?
The property is located at 1401 N O Street Lompoc, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Freestanding 7,680 SF flex building on a 2.20‑acre corner parcel at N O St and Central Ave in Lompoc, CA; Includes customer service area, administrative offices, and a stock room with high ceilings; Spacious warehouse with approx. 18' ceilings and 4 roll‑up doors
