Multi-Building Industrial Flex
For Sale
$2,500,000
2555 Central Avenue, McKinleyville, CA 95519
Three buildings and a secure storage lot sit on a parcel with 300+ feet of Central Ave frontage.
Property Size13,000 SF
Price / SF$192.31
Days on Market102
Property Features for 2555 Central Avenue
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Commercial
Amenities
Motion Lighting
Listing Agency:
SOUTH FORK REAL ESTATE
(707) 798-9301
Listed By:
BERNIE GARRIGAN · License #01927104
Source:
Corcoran
Added: Jun 3
Changed: Sep 10
Last Checked: Sep 12 at 6:41AM
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 SOUTH FORK REAL ESTATE
Investment Insights
Based on property information with market context.
This for-sale flex/industrial parcel consists of three buildings plus a secure vehicle storage rental lot. The largest building measures 100x80 and contains two rental units currently leased to long-term local businesses. A second building measures 100x30 and includes three rental units, with two leased and one unit available after the sale. A third building totals 2,000 square feet and is currently occupied by a long-term tenant.
The secure vehicle storage area provides 30 spaces available, with the option to develop and expand the lot to allow for up to 60 spaces. The property also features more than 300 feet of Central Ave frontage, offering strong visibility for incoming businesses.
Overall, the site offers multiple income-producing building units and a secured storage component, all within a single almost five-acre parcel.
The secure vehicle storage area provides 30 spaces available, with the option to develop and expand the lot to allow for up to 60 spaces. The property also features more than 300 feet of Central Ave frontage, offering strong visibility for incoming businesses.
Overall, the site offers multiple income-producing building units and a secured storage component, all within a single almost five-acre parcel.
Key Highlights
- Almost 5‑acre parcel with three large buildings and a secure vehicle storage rental lot.
- Largest building is 100x80 with two rental units leased to long‑term local businesses.
- Second building is 100x30 with three rental units; two units are leased and one is available after sale.
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
$75,839
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
3.03%
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%
$1,516,780
$1.5M
Cap Rate 7%
$1,083,414
$1.1M
Cap Rate 9%
$842,656
$842.7K
Market Conditions
NOI Build-Up for 13,000 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
$117.0K $9.00/SF
− Vacancy
−$8.7K −$0.67/SF
EGI
$108.3K $8.33/SF
− OpEx
−$32.5K −$2.50/SF
NOI
$75.8K $5.83/SF
Area
Humboldt County, CA
Vacancy
7.40%
Lease Rate
$9.00 /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%
$1,516,780
Cap Rate 7%
$1,083,414
Cap Rate 9%
$842,656
Alternative Uses
Best Use
Flex RnD
$4.91M
$4.30M – $5.73M
NOI $343,655 @ 7.0% cap · market cap 13.75%
Second Best
Industrial
$1.08M
$948.0K – $1.26M
NOI $75,839 @ 7.0% cap · market cap 3.03%
Theoretical Best
—
—
same as Best Use
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
256
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95519, CA
18,421
Population
8,240
Households
2.2
Avg Household Size
41
Median Age
38%
College-Educated
94%
High-School Grad
53.8 sq mi
ZIP Area
342
Density / Sq Mi
$66,687
Median Household Income
$38,291
Median Earnings
$1,442
Median Rent
$432,600
Median Home Value
Check the figures for this property
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 - Three buildings and a secure storage lot sit on a parcel with 300+ feet of Central Ave frontage.
Where is this flex space located?
The property is located at 2555 Central Avenue McKinleyville, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Almost 5‑acre parcel with three large buildings and a secure vehicle storage rental lot.; Largest building is 100x80 with two rental units leased to long‑term local businesses.; Second building is 100x30 with three rental units; two units are leased and one is available after sale.
