Flex Warehouse Office
For Sale
Contact for pricing
1816 East Elma Court, Ontario, CA 91764
Small condo with a flexible warehouse-and-office layout and 14' clear height in a remodeled business park.
Property Size1,240 SF
Price / SF$425
Days on Market133
Property Features for 1816 East Elma Court
General Information
Standard status
Active
Size
1,240 SF
Property subtype
Office, Industrial, Mixed Use
Additional Details
Clear Height
14 ft
Building Details
Year Renovated
1
Units
7
Tenancy
Multi
Listing Agency:
MAB Realty
Listed By:
Brian Tressen · License #CA 01850329
(951) 847-2226
Source:
Crexi
Added: Apr 27
Changed: Aug 22
Last Checked: Sep 6 at 12:47AM
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 MAB Realty
Investment Insights
Based on property information with market context.
This small commercial condo offers a flexible layout combining warehouse and office space, suited to a range of business operations. The property is located within a fully remodeled business park and has received significant exterior upgrades, including new exterior paint, asphalt, and roofing. Inside, the unit provides 14' clear height.
The configuration supports both office and light industrial use, and the remarks note that a 10' x 10' roll-up door can be added for industrial use. This type of setup can be attractive for owner-users looking for a compact workspace with warehouse capability, as well as for investors evaluating a renovated condo in an established business park.
The unit’s warehouse/office mix and clear height support practical day-to-day operations within a modernized environment.
The configuration supports both office and light industrial use, and the remarks note that a 10' x 10' roll-up door can be added for industrial use. This type of setup can be attractive for owner-users looking for a compact workspace with warehouse capability, as well as for investors evaluating a renovated condo in an established business park.
The unit’s warehouse/office mix and clear height support practical day-to-day operations within a modernized environment.
Key Highlights
- Flexible small commercial condo in a remodeled business park for industrial and office users
- Warehouse‑and‑office layout with 14' clear height
- Can be configured for industrial use with a 10' x 10' roll‑up door (can be added)
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
$18,560
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
3.52%
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%
$371,200
$371.2K
Cap Rate 7%
$265,143
$265.1K
Cap Rate 9%
$206,222
$206.2K
Market Conditions
NOI Build-Up for 1,240 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
$23.7K $19.08/SF
− Vacancy
−$1.8K −$1.47/SF
EGI
$21.8K $17.61/SF
− OpEx
−$3.3K −$2.64/SF
NOI
$18.6K $14.97/SF
Area
Ontario, CA
Vacancy
7.71%
Lease Rate
$19.08 /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%
$371,200
Cap Rate 7%
$265,143
Cap Rate 9%
$206,222
Alternative Uses
Best Use
Warehouse
$265.1K
$232.0K – $309.3K
NOI $18,560 @ 7.0% cap · market cap 3.52%
Second Best
Industrial
$218.4K
$191.1K – $254.8K
NOI $15,285 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$320.7K
$280.6K – $374.2K
NOI $22,449 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91764, CA
55,322
Population
17,350
Households
3.2
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
7.9 sq mi
ZIP Area
7,003
Density / Sq Mi
$75,605
Median Household Income
$37,076
Median Earnings
$2,039
Median Rent
$524,100
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 - Small condo with a flexible warehouse-and-office layout and 14' clear height in a remodeled business park.
Where is this flex space located?
The property is located at 1816 East Elma Court Ontario, CA.
What is the asking price?
The asking price for this property is $527,000.
What are key features of this property?
This property features: Flexible small commercial condo in a remodeled business park for industrial and office users; Warehouse‑and‑office layout with 14' clear height; Can be configured for industrial use with a 10' x 10' roll‑up door (can be added)
