Freestanding Flex Space with
For Sale
Contact for pricing
1621-1623 W Gladstone St, Azusa, CA 91702
Secured, fenced yard complements a flexible building with office space and ground-level loading access.
Property Size4,000 SF
Price / SF$450
Days on Market8
Property Features for 1621-1623 W Gladstone St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
KW Commercial
(909) 980-6868
Listed By:
Rene Ramos, Jr. · License #01836872
Source:
Moodyscre
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 15 at 11:41AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This freestanding flex property at 1621-1623 W Gladstone St in Azusa comprises 4,000 square feet, including 500 square feet of office space. The building is equipped with four ground-level roll-up doors, supporting warehouse, service, or other commercial operations that require direct access at grade.
A fully fenced and secured yard provides defined outdoor space alongside the building. Electrical service is identified at 400 amps, subject to buyer verification. The combination of office accommodation, multiple roll-up doors, yard area, and substantial power creates a practical format for a range of flex-oriented uses.
A fully fenced and secured yard provides defined outdoor space alongside the building. Electrical service is identified at 400 amps, subject to buyer verification. The combination of office accommodation, multiple roll-up doors, yard area, and substantial power creates a practical format for a range of flex-oriented uses.
Key Highlights
- 4,000 SF freestanding flex building
- 500 SF of office space
- Four ground‑level 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
$52,048
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
2.89%
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%
$1,040,960
$1.0M
Cap Rate 7%
$743,543
$743.5K
Cap Rate 9%
$578,311
$578.3K
Market Conditions
NOI Build-Up for 4,000 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
$64.3K $16.08/SF
− Vacancy
−$3.1K −$0.77/SF
EGI
$61.2K $15.31/SF
− OpEx
−$9.2K −$2.30/SF
NOI
$52.0K $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%
$1,040,960
Cap Rate 7%
$743,543
Cap Rate 9%
$578,311
Alternative Uses
Best Use
Warehouse
$743.5K
$650.6K – $867.5K
NOI $52,048 @ 7.0% cap · market cap 2.89%
Second Best
Industrial
$667.8K
$584.3K – $779.1K
NOI $46,744 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,911 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91702, CA
62,328
Population
18,218
Households
3.4
Avg Household Size
34
Median Age
24%
College-Educated
78%
High-School Grad
65.0 sq mi
ZIP Area
959
Density / Sq Mi
$87,577
Median Household Income
$35,714
Median Earnings
$1,847
Median Rent
$604,600
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 - Secured, fenced yard complements a flexible building with office space and ground-level loading access.
Where is this flex space located?
The property is located at 1621-1623 W Gladstone St Azusa, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 4,000 SF freestanding flex building; 500 SF of office space; Four ground‑level roll‑up doors
