High-Bay Distribution Building Near
For Sale
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1401 W Fairway Dr, Santa Maria, CA
Class A distribution building with high ceilings, ready for occupancy.
Property Size49,895 SF
Lot Size3.36 Acres
Price / SF$275
Days on Market888
Property Features for 1401 W Fairway Dr
General Information
Standard status
Active
Size
49,895 SF
Lot size
3.36 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 1401 W Fairway Dr Contact us- Size
- 49,895 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
1401 W Fairway Dr, Bldg B
Class A High-Bay Distribution Building
Adjacent To Santa Maria Airport
Rare Free-Standing...
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Listing Agency:
AIR CRE
Listed By:
Unknown Agent
(714) 538-8432
Source:
Moodyscre
Added: Apr 9, 2024
Changed: Sep 4
Last Checked: Sep 12 at 6:05AM
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 AIR CRE
Investment Insights
Based on property information with market context.
This Class A high-bay distribution building offers 49895 square feet of space. The property features a minimum clear height of 30 feet and an ESFR sprinkler system. It is a free-standing building located adjacent to the Santa Maria Airport, making it suitable for distribution and warehouse operations. The building is move-in ready.
Key Highlights
- Rare free‑standing building
- Adjacent to Santa Maria Airport
- Benefit from a 30' minimum clear height
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
$529,032
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
3.86%
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%
$10,580,640
$10.6M
Cap Rate 7%
$7,557,600
$7.6M
Cap Rate 9%
$5,878,133
$5.9M
Market Conditions
NOI Build-Up for 49,895 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
$658.6K $13.20/SF
− Vacancy
−$36.2K −$0.73/SF
EGI
$622.4K $12.47/SF
− OpEx
−$93.4K −$1.87/SF
NOI
$529.0K $10.60/SF
Area
Santa Maria, CA
Vacancy
5.50%
Lease Rate
$13.20 /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%
$10,580,640
Cap Rate 7%
$7,557,600
Cap Rate 9%
$5,878,133
Alternative Uses
Best Use
Warehouse
$7.56M
$6.61M – $8.82M
NOI $529,032 @ 7.0% cap · market cap 3.86%
Second Best
Industrial
$6.83M
$5.97M – $7.96M
NOI $477,795 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$16.86M
$14.75M – $19.67M
NOI $1,180,236 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
519
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Distribution center - Class A distribution building with high ceilings, ready for occupancy.
Where is this distribution center located?
The property is located at 1401 W Fairway Dr Santa Maria, CA.
What is the asking price?
The asking price for this property is $13,721,125.
What are key features of this property?
This property features: Rare free‑standing building; Adjacent to Santa Maria Airport; Benefit from a **30' minimum clear height**
