Industrial Property with Freeway
For Sale
$2,250,000
23305 Peggy Ln, Wildomar, CA 92595
Industrial property with remodeled office space and income-producing tenants.
Property Size9,000 SF
Lot Size3.02 Acres
Price / SF$250
Days on Market165
Property Features for 23305 Peggy Ln
General Information
Standard status
Active
Size
9,000 SF
Lot size
3.02 Acres
Property subtype
Industrial
Building Details
Building Size
9,000 SF
Listing Agency:
Listed By:
Kris Hansen
Source:
Elliman
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 21 at 10:56AM
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 Kris Hansen
Investment Insights
Based on property information with market context.
This property, zoned MSC, is located along the 15 Freeway between Wildomar Trail and Clinton Keith. It features over 600 feet of freeway frontage. The property includes approximately 9000 square feet of building space, along with 1600 square feet of remodeled office space. The site consists of 3+ acres of flat, usable, and fully fenced land. The property is currently occupied by income-producing tenants and operates on well and septic systems.
Key Highlights
- MSC Zoning
- 600’ +/- of Freeway Frontage on the 15 FWY
- Income‑producing tenants
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
$73,907
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
3.28%
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%
$1,478,140
$1.5M
Cap Rate 7%
$1,055,814
$1.1M
Cap Rate 9%
$821,189
$821.2K
Market Conditions
NOI Build-Up for 9,000 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
$112.3K $12.48/SF
− Vacancy
−$6.7K −$0.75/SF
EGI
$105.6K $11.73/SF
− OpEx
−$31.7K −$3.52/SF
NOI
$73.9K $8.21/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,478,140
Cap Rate 7%
$1,055,814
Cap Rate 9%
$821,189
Alternative Uses
Best Use
Industrial
$1.06M
$923.8K – $1.23M
NOI $73,907 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,737 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 92595, CA
34,405
Population
10,366
Households
3.3
Avg Household Size
37
Median Age
18%
College-Educated
86%
High-School Grad
21.5 sq mi
ZIP Area
1,600
Density / Sq Mi
$98,132
Median Household Income
$42,919
Median Earnings
$2,042
Median Rent
$523,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Industrial property with remodeled office space and income-producing tenants.
Where is this industrial property located?
The property is located at 23305 Peggy Ln Wildomar, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: MSC Zoning; 600’ +/- of Freeway Frontage on the 15 FWY; Income‑producing tenants
