Light Industrial Warehouse with Roll-Up
For Sale
$3,290,000
2434 Fenton Street Unit 100, Chula Vista, CA 91914
Well-constructed shell warehouse with two grade-level roll-up doors and 22-foot clear height for flexible industrial and flex use.
Property Size10,151 SF
Price / SF$324.11
Days on Market66
Property Features for 2434 Fenton Street Unit 100
General Information
Standard status
Active
Size
10,151 SF
Property subtype
Commercial
Zoning
light industrial
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
2
Building Details
Year Built
2023
Listing Agency:
BHGRE Clarity
(951) 226-5454
Listed By:
Elias Levy (elevyh@yahoo.com)
Source:
Mrmurrieta
Added: Jun 16
Changed: Aug 7
Last Checked: Aug 20 at 8:00AM
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 BHGRE Clarity
Investment Insights
Based on property information with market context.
This well-constructed warehouse is delivered in shell condition, giving an incoming owner the ability to customize the interior for industrial or flex use. The building is approximately 127’ by 80’ and includes two grade-level roll-up doors (no dock). Clear height is approximately 22 feet, supporting a wide range of warehousing and operational storage needs.
The property is zoned light industrial and is positioned for cross-border logistics, located approximately 10 minutes from the Otay Mesa Port of Entry. It offers convenient access to major transportation routes for users who need efficient regional and cross-border connectivity.
Designed to work for both owner-users and investors, the shell delivery allows flexibility in planning tenant improvements without taking on a fixed layout. The site also presents the potential for adding a two-story office or mezzanine buildout to increase usable space, subject to applicable approvals and design requirements. With the combination of grade-level access, practical clear height, and light industrial zoning, this is a strong fit for operators seeking a warehouse they can tailor to their workflow.
The property is zoned light industrial and is positioned for cross-border logistics, located approximately 10 minutes from the Otay Mesa Port of Entry. It offers convenient access to major transportation routes for users who need efficient regional and cross-border connectivity.
Designed to work for both owner-users and investors, the shell delivery allows flexibility in planning tenant improvements without taking on a fixed layout. The site also presents the potential for adding a two-story office or mezzanine buildout to increase usable space, subject to applicable approvals and design requirements. With the combination of grade-level access, practical clear height, and light industrial zoning, this is a strong fit for operators seeking a warehouse they can tailor to their workflow.
Key Highlights
- 2023‑built ±10,151 SF shell warehouse in Eastlake industrial submarket
- Approx. 127' x 80' dimensions with 22‑foot clear height
- Two grade‑level roll‑up doors (no dock)
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
$142,116
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
4.32%
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%
$2,842,320
$2.8M
Cap Rate 7%
$2,030,229
$2.0M
Cap Rate 9%
$1,579,067
$1.6M
Market Conditions
NOI Build-Up for 10,151 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
$235.1K $23.16/SF
− Vacancy
−$16.5K −$1.62/SF
EGI
$218.6K $21.54/SF
− OpEx
−$76.5K −$7.54/SF
NOI
$142.1K $14.00/SF
Area
Chula Vista, CA
Vacancy
7.00%
Lease Rate
$23.16 /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%
$2,842,320
Cap Rate 7%
$2,030,229
Cap Rate 9%
$1,579,067
Alternative Uses
Best Use
Flex RnD
$2.03M
$1.78M – $2.37M
NOI $142,116 @ 7.0% cap · market cap 4.32%
Second Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,366 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,626 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,031
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 91914, CA
17,522
Population
4,948
Households
3.5
Avg Household Size
39
Median Age
48%
College-Educated
94%
High-School Grad
6.6 sq mi
ZIP Area
2,655
Density / Sq Mi
$164,398
Median Household Income
$71,944
Median Earnings
$3,076
Median Rent
$960,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Public Storage — 2391 Fenton St, Chula Vista, CA 91914
- SmartStop Self Storage — 2380 Fenton St, Chula Vista, CA 91914
- Simply Contents — Chula Vista, CA 91914
- Priority Moving and Storage — 2311 Boswell Rd #1, Chula Vista, CA 91914
Frequently Asked Questions
What type of property is this?
Warehouse - Well-constructed shell warehouse with two grade-level roll-up doors and 22-foot clear height for flexible industrial and flex use.
Where is this warehouse located?
The property is located at 2434 Fenton Street Unit 100 Chula Vista, CA.
What is the asking price?
The asking price for this property is $3,290,000.
What are key features of this property?
This property features: 2023‑built ±10,151 SF shell warehouse in Eastlake industrial submarket; Approx. 127' x 80' dimensions with 22‑foot clear height; Two grade‑level roll‑up doors (no dock)
