Industrial Condo with Office
New
For Sale
Contact for pricing
2336 Skyway Drive, Santa Maria, CA 93455
Compact industrial condominium with a lobby, two offices, and a restroom.
Property Size1,306 SF
Price / SF$305.51
Days on Market4
Property Features for 2336 Skyway Drive
General Information
Standard status
Active
Size
1,306 SF
Property subtype
Office, Industrial
Additional Details
Road Access
Yes
Listing Agency:
Santa Maria -Pacifica Commercial Realty
Listed By:
Mike Kelly · License #CA 01800988
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 3:07PM
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 Santa Maria -Pacifica Commercial Realty
Investment Insights
Based on property information with market context.
This industrial condominium provides approximately 1,306 square feet of space configured with a lobby, two offices, and a restroom. The existing layout supports a combination of administrative and industrial functions within a compact commercial unit.
The property is located at 2336 Skyway Drive in Santa Maria, California, one block south of Betteravia Road. Unit 1 is offered for sale.
The property is located at 2336 Skyway Drive in Santa Maria, California, one block south of Betteravia Road. Unit 1 is offered for sale.
Key Highlights
- Approximately 1,306 square feet of industrial condominium space
- Lobby, two offices, and one restroom
- Located on Skyway Drive, one block south of Betteravia Road
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
$12,506
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
3.13%
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%
$250,120
$250.1K
Cap Rate 7%
$178,657
$178.7K
Cap Rate 9%
$138,956
$139.0K
Market Conditions
NOI Build-Up for 1,306 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
$18.8K $14.40/SF
− Vacancy
−$940 −$0.72/SF
EGI
$17.9K $13.68/SF
− OpEx
−$5.4K −$4.10/SF
NOI
$12.5K $9.58/SF
Area
Santa Maria, CA
Vacancy
5.00%
Lease Rate
$14.40 /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%
$250,120
Cap Rate 7%
$178,657
Cap Rate 9%
$138,956
Alternative Uses
Best Use
Industrial
$178.7K
$156.3K – $208.4K
NOI $12,506 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$441.3K
$386.2K – $514.9K
NOI $30,893 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
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
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 - Compact industrial condominium with a lobby, two offices, and a restroom.
Where is this industrial property located?
The property is located at 2336 Skyway Drive Santa Maria, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 1,306 square feet of industrial condominium space; Lobby, two offices, and one restroom; Located on Skyway Drive, one block south of Betteravia Road
