High-Bay Flex
New
For Sale
$3,600,000
2240 S Thornburg St, Santa Maria, CA 93455
Manufacturing and warehouse layouts are supported by substantial power, a truck well, and office areas on two levels.
Property Size17,350 SF
Days on Market2
Property Features for 2240 S Thornburg St
General Information
Standard status
Active
Size
17,350 SF
Property subtype
Industrial
Warehouse & Industrial
Mezzanine
3,750 SF
Sprinkler System
Yes
Building Details
Building Size
17,350 SF
Listing Agency:
Stafford-McCarty Commercial RE
Listed By:
Stephen McCarty · License #00977930
(805) 543-1801
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:35PM
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 Stafford-McCarty Commercial RE
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Investment Insights
Based on property information with market context.
This flex property has a high-bay interior with an open configuration, tall ceilings, and power suited to manufacturing activity. Two roll-up doors include one served by a truck well. Office space is arranged on both the first and second floors, and a sprinklered mezzanine contributes an additional 3,750 SF.
The building’s combination of open floor area, loading access, and offices supports manufacturing or warehouse use.
The building’s combination of open floor area, loading access, and offices supports manufacturing or warehouse use.
Key Highlights
- High‑bay interior with open floor area and tall ceilings
- Power capacity suited to manufacturing processes
- Two roll‑up doors, including one at a truck well
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,960
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,679,200
$3.7M
Cap Rate 7%
$2,628,000
$2.6M
Cap Rate 9%
$2,044,000
$2.0M
Market Conditions
NOI Build-Up for 17,350 SF
Gross rent
$229.0K $13.20/SF
− Vacancy
−$12.6K −$0.73/SF
EGI
$216.4K $12.47/SF
− OpEx
−$32.5K −$1.87/SF
NOI
$184.0K $10.60/SF
Area
Santa Maria, CA
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,679,200
Cap Rate 7%
$2,628,000
Cap Rate 9%
$2,044,000
Alternative Uses
Best Use
Warehouse
$2.63M
$2.30M – $3.07M
NOI $183,960 @ 7.0% cap · market cap 5.11%
Second Best
Flex RnD
$2.54M
$2.23M – $2.97M
NOI $178,094 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,404 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93455, CA
45,282
Population
16,087
Households
2.8
Avg Household Size
40
Median Age
32%
College-Educated
89%
High-School Grad
118.3 sq mi
ZIP Area
383
Density / Sq Mi
$108,501
Median Household Income
$53,120
Median Earnings
$2,267
Median Rent
$572,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Food Inc Santa Barbara — 2319 Nightshade Ln, Santa Maria, CA 93455
- Firehouse Subs Enos Ranch West — 467 betteravia rd, santa maria, ca 93454
Frequently Asked Questions
What type of property is this?
Flex space - Manufacturing and warehouse layouts are supported by substantial power, a truck well, and office areas on two levels.
Where is this flex space located?
The property is located at 2240 S Thornburg St Santa Maria, CA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: High‑bay interior with open floor area and tall ceilings; Power capacity suited to manufacturing processes; Two roll‑up doors, including one at a truck well
