Improved Office
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2401 Professional Pkwy, Santa Maria, CA 93455
Corner office property with private offices, conference space, restrooms, lobby, and an adaptable bullpen area.
Property Size6,000 SF
Price / SF$349.17
Days on Market209
Property Features for 2401 Professional Pkwy
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
24
Property subtype
Office
Zoning
CPO
Building Details
Buildings
1
Stories
1
Listing Agency:
Santa Maria -Pacifica Commercial Realty
Listed By:
Mike Kelly · License #CA 01800988
Source:
Crexi
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 6:15PM
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 6,000-square-foot office building includes a practical mix of private offices, a conference room, multi-stall restrooms, a lobby, and a large bullpen area suitable for cubicle installation. The interior was originally designed for an accounting office and includes substantial office improvements.
The property occupies the corner of West McCoy Lane and Professional Parkway, one block west of South Broadway, in Santa Maria, California. CPO zoning supports the property's professional office classification.
The property occupies the corner of West McCoy Lane and Professional Parkway, one block west of South Broadway, in Santa Maria, California. CPO zoning supports the property's professional office classification.
Key Highlights
- 6,000‑square‑foot office building
- Corner location at West McCoy Lane and Professional Parkway
- Private offices, conference room, lobby, and multi‑stall restrooms
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
$102,168
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
4.88%
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%
$2,043,360
$2.0M
Cap Rate 7%
$1,459,543
$1.5M
Cap Rate 9%
$1,135,200
$1.1M
Market Conditions
NOI Build-Up for 6,000 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
$158.4K $26.40/SF
− Vacancy
−$22.2K −$3.70/SF
EGI
$136.2K $22.70/SF
− OpEx
−$34.1K −$5.68/SF
NOI
$102.2K $17.03/SF
Area
Santa Maria, CA
Vacancy
14.00%
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%
$2,043,360
Cap Rate 7%
$1,459,543
Cap Rate 9%
$1,135,200
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,168 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,926 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,211
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office property with private offices, conference space, restrooms, lobby, and an adaptable bullpen area.
Where is this office building located?
The property is located at 2401 Professional Pkwy Santa Maria, CA.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 6,000‑square‑foot office building; Corner location at West McCoy Lane and Professional Parkway; Private offices, conference room, lobby, and multi‑stall restrooms
