Industrial Condominium with
For Sale
$1,300,000
2003 Raymer Avenue, Fullerton, CA 92833
Industrial condo in a business center with two entrances, private restrooms, and a rear loading dock.
Property Size3,180 SF
Price / SF$408.81
Days on Market191
Property Features for 2003 Raymer Avenue
General Information
Standard status
Active
Size
3,180 SF
Property subtype
General Commercial
Additional Details
Dock-High Doors
1
Amenities
3
M-G
6 Parking Spaces.
Building Details
Year Built
1989
Listing Agency:
(818) 432-1500
Listed By:
Keller Williams Studio City
Source:
Xome
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 12 at 3:19AM
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 Keller Williams Studio City
Investment Insights
Based on property information with market context.
2003 Raymer Ave., Suite A is an industrial condominium within the Raymer Business Center. The unit is approximately 3,180 square feet and features two entrances, two private restrooms, and a rear loading dock with approximate dimensions of 10 X 12.
The property is part of a well-maintained business park totaling approximately 79,765 square feet, with ample parking available for occupants and visitors. Allowed uses include general office and warehouse functions, supporting a range of office/warehouse operations such as distribution, storage, showroom, light manufacturing, and hybrid office/warehouse use.
For an owner-user, the layout supports combining office and warehouse activities in one accessible space. For investors, the condo is positioned in a professionally maintained business park with an existing tenant operating in compliance with the approved use.
The property is part of a well-maintained business park totaling approximately 79,765 square feet, with ample parking available for occupants and visitors. Allowed uses include general office and warehouse functions, supporting a range of office/warehouse operations such as distribution, storage, showroom, light manufacturing, and hybrid office/warehouse use.
For an owner-user, the layout supports combining office and warehouse activities in one accessible space. For investors, the condo is positioned in a professionally maintained business park with an existing tenant operating in compliance with the approved use.
Key Highlights
- Industrial condominium unit in Raymer Business Center totaling approx. 79,765 SF
- Approx. 3,180 SF with two entrances and two private restrooms
- Rear loading dock (approx. 10 X 12) for warehouse or distribution access
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
$52,726
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
4.06%
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%
$1,054,520
$1.1M
Cap Rate 7%
$753,229
$753.2K
Cap Rate 9%
$585,844
$585.8K
Market Conditions
NOI Build-Up for 3,180 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
$84.0K $26.40/SF
− Vacancy
−$13.7K −$4.29/SF
EGI
$70.3K $22.11/SF
− OpEx
−$17.6K −$5.53/SF
NOI
$52.7K $16.58/SF
Area
Fullerton, CA
Vacancy
16.26%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,054,520
Cap Rate 7%
$753,229
Cap Rate 9%
$585,844
Alternative Uses
Best Use
Office B
$753.2K
$659.1K – $878.8K
NOI $52,726 @ 7.0% cap · market cap 4.06%
Second Best
Warehouse
$704.3K
$616.3K – $821.7K
NOI $49,304 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.02M
$894.8K – $1.19M
NOI $71,580 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92833, CA
52,598
Population
17,042
Households
3.1
Avg Household Size
39
Median Age
43%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
6,831
Density / Sq Mi
$113,296
Median Household Income
$51,502
Median Earnings
$2,155
Median Rent
$844,000
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 - Industrial condo in a business center with two entrances, private restrooms, and a rear loading dock.
Where is this flex space located?
The property is located at 2003 Raymer Avenue Fullerton, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Industrial condominium unit in Raymer Business Center totaling approx. 79,765 SF; Approx. 3,180 SF with two entrances and two private restrooms; Rear loading dock (approx. 10 X 12) for warehouse or distribution access
