Industrial Flex Condo with
For Sale
Contact for pricing
1818 East Elma Court, Ontario, CA 91764
Small commercial condo with an open warehouse layout, 480 SF office, and a 10’x10’ roll-up door with 14’ clear height.
Property Size1,488 SF
Price / SF$425
Days on Market133
Property Features for 1818 East Elma Court
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Industrial
Additional Details
Clear Height
14 ft
Building Details
Tenancy
Multi
Listing Agency:
MAB Realty
Listed By:
Brian Tressen · License #CA 01850329
(951) 847-2226
Source:
Crexi
Added: Apr 28
Changed: Sep 4
Last Checked: Sep 6 at 8:10AM
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 industrial flex condo is located within a fully remodeled business park and features an open warehouse layout designed for industrial use. The unit also includes an office component of approximately 480 SF.
The property has been significantly upgraded with new exterior paint, asphalt, and roofing to support a modern, professional environment. Operational features include a 10’x10’ roll-up door and 14’ clear height.
The layout combines warehouse space for day-to-day industrial needs with dedicated office space, offering a practical configuration for owner-users who want work and administrative areas in the same unit.
The property has been significantly upgraded with new exterior paint, asphalt, and roofing to support a modern, professional environment. Operational features include a 10’x10’ roll-up door and 14’ clear height.
The layout combines warehouse space for day-to-day industrial needs with dedicated office space, offering a practical configuration for owner-users who want work and administrative areas in the same unit.
Key Highlights
- Open warehouse layout with a separate 480 SF office
- 10' x 10' roll‑up door and 14' clear height
- Fully remodeled business park within the Ontario Airport submarket
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
$22,272
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%
$445,440
$445.4K
Cap Rate 7%
$318,171
$318.2K
Cap Rate 9%
$247,467
$247.5K
Market Conditions
NOI Build-Up for 1,488 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
$28.4K $19.08/SF
− Vacancy
−$2.2K −$1.47/SF
EGI
$26.2K $17.61/SF
− OpEx
−$3.9K −$2.64/SF
NOI
$22.3K $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%
$445,440
Cap Rate 7%
$318,171
Cap Rate 9%
$247,467
Alternative Uses
Best Use
Warehouse
$318.2K
$278.4K – $371.2K
NOI $22,272 @ 7.0% cap · market cap 3.52%
Second Best
Office B
$307.9K
$269.4K – $359.2K
NOI $21,552 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$384.8K
$336.7K – $449.0K
NOI $26,939 @ 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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Small commercial condo with an open warehouse layout, 480 SF office, and a 10’x10’ roll-up door with 14’ clear height.
Where is this flex space located?
The property is located at 1818 East Elma Court Ontario, CA.
What is the asking price?
The asking price for this property is $632,400.
What are key features of this property?
This property features: Open warehouse layout with a separate 480 SF office; 10' x 10' roll‑up door and 14' clear height; Fully remodeled business park within the Ontario Airport submarket
