Industrial Facility in Apple
For Sale
$4,000,000
21284 Corwin Road, Apple Valley, CA 92307
29,615 SF industrial facility in a high-growth market.
Property Size29,615 SF
Lot Size3.27 Acres
Price / SF$135.07
Days on Market158
Property Features for 21284 Corwin Road
General Information
Standard status
Active
Size
29,615 SF
Lot size
3.27 Acres
Property subtype
Industrial
Building Details
Building Size
29,615 SF
Year Built
1989
Listing Agency:
Coldwell Banker Commercial Rea
(760) 792-8622
Listed By:
Robert Basen · License #00521368
Source:
Velocityrealtysd
Added: Mar 27
Changed: Aug 28
Last Checked: Aug 30 at 10:48PM
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 Coldwell Banker Commercial Rea
Investment Insights
Based on property information with market context.
This 29,615 square foot industrial facility is located in the Apple Valley Industrial Specific Plan. The property is situated on 3.27 acres and has operated as a transfer and storage center. The building offers a versatile layout suitable for logistics, warehousing, manufacturing, or distribution. It features expansive clear-height space, multiple access points for efficient loading and unloading, and ample yard space for vehicle or container storage. The property is located minutes from the I-15 Freeway and the Apple Valley Airport, offering regional connectivity. The Apple Valley Industrial Specific Plan has over 12 million square feet of industrial development entitled and underway. This facility presents an opportunity for owner-users and investors seeking an industrial asset in a high-growth market. The property is ideal for warehousing, distribution, manufacturing, or transfer hub use.
Key Highlights
- Prime location within the Apple Valley Industrial Specific Plan, a rapidly expanding industrial zone.
- Excellent regional connectivity, located minutes from the I‑15 Freeway and Apple Valley Airport.
- Versatile 29,615 square foot facility suitable for logistics, warehousing, manufacturing, distribution, or transfer hub use.
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
$295,307
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
7.38%
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%
$5,906,140
$5.9M
Cap Rate 7%
$4,218,671
$4.2M
Cap Rate 9%
$3,281,189
$3.3M
Market Conditions
NOI Build-Up for 29,615 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
$369.6K $12.48/SF
− Vacancy
−$22.2K −$0.75/SF
EGI
$347.4K $11.73/SF
− OpEx
−$52.1K −$1.76/SF
NOI
$295.3K $9.97/SF
Area
San Bernardino County, CA
Vacancy
6.00%
Lease Rate
$12.48 /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%
$5,906,140
Cap Rate 7%
$4,218,671
Cap Rate 9%
$3,281,189
Alternative Uses
Best Use
Warehouse
$4.22M
$3.69M – $4.92M
NOI $295,307 @ 7.0% cap · market cap 7.38%
Second Best
Industrial
$3.47M
$3.04M – $4.05M
NOI $243,194 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$6.25M
$5.47M – $7.29M
NOI $437,279 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
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.
Frequently Asked Questions
What type of property is this?
Warehouse - 29,615 SF industrial facility in a high-growth market.
Where is this warehouse located?
The property is located at 21284 Corwin Road Apple Valley, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Prime location within the Apple Valley Industrial Specific Plan, a rapidly expanding industrial zone.; Excellent regional connectivity, located minutes from the I‑15 Freeway and Apple Valley Airport.; Versatile **29,615 square foot facility** suitable for logistics, warehousing, manufacturing, distribution, or transfer hub use.
