Santa Paula Industrial-Flex
For Sale
$799,950
Pending
215 N 8th Street, Santa Paula, CA 93060
M-1 industrial-flex property with live/work potential near downtown.
Property Size3,600 SF
Days on Market136
Property Features for 215 N 8th Street
General Information
Standard status
Pending
Size
3,600 SF
Zoning
M-1
Listing Agency:
(805) 850-5443
Listed By:
Roylin Downs
(805) 850-5443
Source:
Evrealestate
Added: Apr 13
Changed: Aug 23
Last Checked: Aug 25 at 6:28AM
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 Roylin Downs
Investment Insights
Based on property information with market context.
This unique Santa Paula property offers an M-1 industrial-flex/mixed-use opportunity, featuring 3,600 square feet of space according to the Assessor. The property is currently configured for live/work office and auto-related use, presenting strong appeal for an owner-user. Key features include 3-phase electrical power, an installed air compressor, RV parking, and double gates. There is also open space suitable for parking, storage, or general yard utility. A documented historical conditional use permit for artist live-work/caretaker use is on file; buyers should verify current permitted uses, transferability, and intended use with the City of Santa Paula. The property is centrally located just blocks from downtown restaurants, shops, and local amenities. The bike score is 29, indicating it is somewhat bikeable, and the walk score is 15, indicating car-dependent.
Key Highlights
- M‑1 Industrial‑Flex / Mixed‑Use Property with Live/Work Potential
- Boasting 3,600 sq ft of Usable Space
- Features 3‑Phase Electrical Power
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
$63,724
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
7.97%
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%
$1,274,480
$1.3M
Cap Rate 7%
$910,343
$910.3K
Cap Rate 9%
$708,044
$708.0K
Market Conditions
NOI Build-Up for 3,600 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
$95.0K $26.40/SF
− Vacancy
−$10.1K −$2.80/SF
EGI
$85.0K $23.60/SF
− OpEx
−$21.2K −$5.90/SF
NOI
$63.7K $17.70/SF
Area
Ventura County, CA
Vacancy
10.60%
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%
$1,274,480
Cap Rate 7%
$910,343
Cap Rate 9%
$708,044
Alternative Uses
Best Use
Office B
$910.3K
$796.6K – $1.06M
NOI $63,724 @ 7.0% cap · market cap 7.97%
Second Best
Mixed Use
$645.7K
$565.0K – $753.3K
NOI $45,198 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,511 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93060, CA
33,859
Population
10,935
Households
3.1
Avg Household Size
35
Median Age
16%
College-Educated
67%
High-School Grad
92.4 sq mi
ZIP Area
366
Density / Sq Mi
$79,606
Median Household Income
$36,202
Median Earnings
$1,678
Median Rent
$582,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - M-1 industrial-flex property with live/work potential near downtown.
Where is this flex space located?
The property is located at 215 N 8th Street Santa Paula, CA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: M‑1 Industrial‑Flex / Mixed‑Use Property with Live/Work Potential; Boasting 3,600 sq ft of Usable Space; Features 3‑Phase Electrical Power
