Light Industrial
For Sale
Contact for pricing
177 Vallecitos De Oro, San Marcos, CA 92069
Light industrial zoning supports a range of commercial and industrial operations in San Marcos.
Property Size24,660 SF
Price / SF$178.55
Days on Market151
Property Features for 177 Vallecitos De Oro
General Information
Standard status
Active
Size
24,660 SF
Property subtype
Industrial
Zoning
L-I (Light Industrial)
Lease Type
NNN
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Tenancy
Single
Listing Agency:
CBRE - San Diego
(858) 546-4622
Listed By:
Matt Pourcho · License #CA 01705763
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 8:06PM
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 CBRE - San Diego
Investment Insights
Based on property information with market context.
This industrial property in San Marcos comprises 24,660 square feet within a building constructed in 1985. The site carries L-I (Light Industrial) zoning, providing a defined industrial land-use classification for the property.
The property is positioned beside North City, a 200-acre mixed-use development planned with 3,400 residential units, 375k SF of retail, 1M SF of office, and 20 acres of parks. Access connects to the 78 Corridor, while surrounding retail amenities add substantial commercial activity to the area. The address is 177 Vallecitos De Oro, San Marcos, CA 92069.
The property is positioned beside North City, a 200-acre mixed-use development planned with 3,400 residential units, 375k SF of retail, 1M SF of office, and 20 acres of parks. Access connects to the 78 Corridor, while surrounding retail amenities add substantial commercial activity to the area. The address is 177 Vallecitos De Oro, San Marcos, CA 92069.
Key Highlights
- 24,660‑square‑foot industrial property
- L‑I (Light Industrial) zoning
- Built in 1985
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
$282,130
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
6.41%
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%
$5,642,600
$5.6M
Cap Rate 7%
$4,030,429
$4.0M
Cap Rate 9%
$3,134,778
$3.1M
Market Conditions
NOI Build-Up for 24,660 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
$443.9K $18.00/SF
− Vacancy
−$40.8K −$1.66/SF
EGI
$403.0K $16.34/SF
− OpEx
−$120.9K −$4.90/SF
NOI
$282.1K $11.44/SF
Area
San Diego County, CA
Vacancy
9.20%
Lease Rate
$18.00 /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%
$5,642,600
Cap Rate 7%
$4,030,429
Cap Rate 9%
$3,134,778
Alternative Uses
Best Use
Industrial
$4.03M
$3.53M – $4.70M
NOI $282,130 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.30M
$9.89M – $13.18M
NOI $790,888 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,570
Businesses Nearby
Explore this area
Business Placement
Demographics for 92069, CA
49,407
Population
15,687
Households
3.1
Avg Household Size
34
Median Age
35%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
2,671
Density / Sq Mi
$93,065
Median Household Income
$41,634
Median Earnings
$2,078
Median Rent
$714,700
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?
Industrial property - Light industrial zoning supports a range of commercial and industrial operations in San Marcos.
Where is this industrial property located?
The property is located at 177 Vallecitos De Oro San Marcos, CA.
What is the asking price?
The asking price for this property is $4,403,000.
What are key features of this property?
This property features: 24,660‑square‑foot industrial property; L‑I (Light Industrial) zoning; Built in 1985
