Two-Story Flex Building For
For Sale
$6,971,250
201 Avenida Fabricante, San Clemente, CA 92672
Two-story flex building with long-term tenant in place.
Property Size21,450 SF
Price / SF$325
Days on Market179
Property Features for 201 Avenida Fabricante
General Information
Standard status
Active
Size
21,450 SF
Class
B
Property subtype
Office
Building Details
Building Size
21,450 SF
Year Built
1999
Listing Agency:
Lee & Associates - Irvine
(949) 874-1549
Listed By:
Mark Jerue · License #CalDRE #01073399
(949) 874-1549
Source:
Lee-associates
Added: Mar 4
Changed: Aug 13
Last Checked: Aug 29 at 7:07AM
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 Lee & Associates - Irvine
Investment Insights
Based on property information with market context.
A two-story flex building offering approximately 21,450 square feet is available for sale. The property presents an excellent opportunity for an owner-user. The current tenant has occupied the building for over 20 years, with the lease expiring on February 28, 2027. The building is elevator served.
Key Highlights
- ±21,450 SF two‑story flex building
- Excellent owner‑user opportunity
- Elevator served
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
$390,270
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
5.60%
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%
$7,805,400
$7.8M
Cap Rate 7%
$5,575,286
$5.6M
Cap Rate 9%
$4,336,333
$4.3M
Market Conditions
NOI Build-Up for 21,450 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
$713.0K $33.24/SF
− Vacancy
−$112.6K −$5.25/SF
EGI
$600.4K $27.99/SF
− OpEx
−$210.1K −$9.80/SF
NOI
$390.3K $18.19/SF
Area
Orange County, CA
Vacancy
15.79%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
35.00%
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%
$7,805,400
Cap Rate 7%
$5,575,286
Cap Rate 9%
$4,336,333
Alternative Uses
Best Use
Flex RnD
$5.58M
$4.88M – $6.50M
NOI $390,270 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$3.58M
$3.13M – $4.18M
NOI $250,666 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$7.20M
$6.30M – $8.41M
NOI $504,324 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92672, CA
41,067
Population
17,487
Households
2.3
Avg Household Size
37
Median Age
48%
College-Educated
93%
High-School Grad
35.6 sq mi
ZIP Area
1,154
Density / Sq Mi
$109,991
Median Household Income
$54,874
Median Earnings
$2,370
Median Rent
$1,240,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex building with long-term tenant in place.
Where is this flex space located?
The property is located at 201 Avenida Fabricante San Clemente, CA.
What is the asking price?
The asking price for this property is $6,971,250.
What are key features of this property?
This property features: ±21,450 SF two‑story flex building; Excellent owner‑user opportunity; Elevator served
