NNN Flex Space
For Sale
Contact for pricing
2320 Cousteau Ct, Vista, CA 92081
NNN flex space available starting 8/1/2025 in Vista, CA.
Property Size15,472 SF
Price / SF$324.97
Days on Market156
Property Features for 2320 Cousteau Ct
General Information
Standard status
Active
Size
15,472 SF
Total Parking Spaces
50
Property subtype
Office, Industrial
Zoning
RLI -SPI
Listing Agency:
Lee & Associates San Diego - Carlsbad
Listed By:
Marko Dragovic · License #CA 01773106
(858) 531-4523
Source:
Crexi
Added: Apr 16
Changed: Sep 10
Last Checked: Sep 16 at 2:42PM
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 San Diego - Carlsbad
Investment Insights
Based on property information with market context.
This for-sale NNN flex space is offered as a commercial property with availability beginning 8/1/2025. The offering includes NNN lease-rate terms in the published remarks and is presented as a flex-use asset suitable for a variety of light commercial and operational needs.
Located at 2320 Cousteau Ct in Vista, California (92081), the property is positioned to serve tenants looking for a flex configuration within the Vista market. The listing includes a stated total building size of 15,472 square feet.
As presented, the key takeaway for buyers or tenants is the NNN structure and the confirmed availability date of 8/1/2025.
Located at 2320 Cousteau Ct in Vista, California (92081), the property is positioned to serve tenants looking for a flex configuration within the Vista market. The listing includes a stated total building size of 15,472 square feet.
As presented, the key takeaway for buyers or tenants is the NNN structure and the confirmed availability date of 8/1/2025.
Key Highlights
- NNN flex space lease rate: $1.45/SF NNN
- Available starting 8/1/2025
- Located in Vista, CA
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
$318,918
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
6.34%
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%
$6,378,360
$6.4M
Cap Rate 7%
$4,555,971
$4.6M
Cap Rate 9%
$3,543,533
$3.5M
Market Conditions
NOI Build-Up for 15,472 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
$571.8K $36.96/SF
− Vacancy
−$81.2K −$5.25/SF
EGI
$490.6K $31.71/SF
− OpEx
−$171.7K −$11.10/SF
NOI
$318.9K $20.61/SF
Area
San Diego County, CA
Vacancy
14.20%
Lease Rate
$36.96 /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%
$6,378,360
Cap Rate 7%
$4,555,971
Cap Rate 9%
$3,543,533
Alternative Uses
Best Use
Flex RnD
$4.56M
$3.99M – $5.32M
NOI $318,918 @ 7.0% cap · market cap 6.34%
Second Best
Industrial
$2.53M
$2.21M – $2.95M
NOI $177,012 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$7.09M
$6.20M – $8.27M
NOI $496,213 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92081, CA
28,745
Population
11,075
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
3,230
Density / Sq Mi
$102,663
Median Household Income
$53,871
Median Earnings
$2,393
Median Rent
$774,800
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
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Frequently Asked Questions
What type of property is this?
Flex space - NNN flex space available starting 8/1/2025 in Vista, CA.
Where is this flex space located?
The property is located at 2320 Cousteau Ct Vista, CA.
What is the asking price?
The asking price for this property is $5,028,000.
What are key features of this property?
This property features: NNN flex space lease rate: $1.45/SF NNN; Available starting 8/1/2025; Located in Vista, CA
