Two-Level Flex Space with
New
For Sale
$2,630,000
201 N Corona Ave Suite 103, Ontario, CA 91764
Office, shipping, and warehouse areas are paired with permitted second-floor offices and three-phase power.
Property Size6,767 SF
Price / SF$388.65
Days on Market2
Property Features for 201 N Corona Ave Suite 103
General Information
Standard status
Active
Size
6,767 SF
Total Parking Spaces
22
Property subtype
Industrial
Zoning
BP
Warehouse & Industrial
Clear Height
23 ft
Warehouse Space
2,900 SF
Drive-In Doors
1
Power
200 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Building Size
6,767 SF
Year Built
2008
Stories
2
Construction
tilt-up concrete
Listed By:
Fuqiang Yun
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:47PM
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 Fuqiang Yun
Investment Insights
Based on property information with market context.
This two-level flex condo at 201 N Corona Ave, Suite 103, contains approximately 6,767 square feet. The ground floor has 4,917 square feet, including reception, a private office, shipping room, two ADA restrooms, and an approximately 2,900-square-foot warehouse. The warehouse has 23-foot clear height, a grade-level roll-up door, fire sprinklers, and 200A/480V three-phase power. The permitted second floor adds 1,850 square feet of office space, with an open sales and conference room and three private offices. Approximately 3,650 square feet is air-conditioned. Concrete tilt-up construction dates to 2008; the second-floor permit was finaled in 2016.
The property is in Ontario Airport Corporate Park, minutes from ONT Airport, with access to I-10, I-15, SR-60, and I-210. BP zoning allows warehouse, distribution, light assembly, R&D, showroom, and office uses. The property is currently owner-occupied and can be delivered vacant at close of escrow. It is in a federally designated Opportunity Zone; buyer to verify.
The property is in Ontario Airport Corporate Park, minutes from ONT Airport, with access to I-10, I-15, SR-60, and I-210. BP zoning allows warehouse, distribution, light assembly, R&D, showroom, and office uses. The property is currently owner-occupied and can be delivered vacant at close of escrow. It is in a federally designated Opportunity Zone; buyer to verify.
Key Highlights
- Approximately 6,767 SF across two levels, including 4,917 SF on the ground floor and 1,850 SF upstairs
- Approximately 2,900 SF warehouse with 23' clear height and grade‑level roll‑up door
- 200A/480V 3‑phase power and fire sprinklers
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
$101,286
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
3.85%
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%
$2,025,720
$2.0M
Cap Rate 7%
$1,446,943
$1.4M
Cap Rate 9%
$1,125,400
$1.1M
Market Conditions
NOI Build-Up for 6,767 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
$129.1K $19.08/SF
− Vacancy
−$10.0K −$1.47/SF
EGI
$119.2K $17.61/SF
− OpEx
−$17.9K −$2.64/SF
NOI
$101.3K $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%
$2,025,720
Cap Rate 7%
$1,446,943
Cap Rate 9%
$1,125,400
Alternative Uses
Best Use
Warehouse
$1.45M
$1.27M – $1.69M
NOI $101,286 @ 7.0% cap · market cap 3.85%
Second Best
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,412 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,512 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
23 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mix Masters Bar Service — 1701 E D St APT 503, Ontario, CA 91764
Frequently Asked Questions
What type of property is this?
Flex space - Office, shipping, and warehouse areas are paired with permitted second-floor offices and three-phase power.
Where is this flex space located?
The property is located at 201 N Corona Ave Suite 103 Ontario, CA.
What is the asking price?
The asking price for this property is $2,630,000.
What are key features of this property?
This property features: Approximately 6,767 SF across two levels, including 4,917 SF on the ground floor and 1,850 SF upstairs; Approximately 2,900 SF warehouse with 23' clear height and grade‑level roll‑up door; 200A/480V 3‑phase power and fire sprinklers
