Vista Commercial Condo For
For Sale
$328,000
2598 Fortune Way B, Vista, CA 92081
Industrial commercial condo in Vista, near San Diego and Orange County.
Property Size725 SF
Lot Size2.54 Acres
Days on Market173
Property Features for 2598 Fortune Way B
General Information
Standard status
Active
Size
725 SF
Lot size
2.54 Acres
Property subtype
Industrial
Building Details
Building Size
725 SF
Listing Agency:
Mark 1 Real Estate, Inc.
(951) 640-2923
Listed By:
Teri Heuer · License #01202023
(951) 640-2923
Source:
Elliman
Added: Mar 10
Changed: Aug 28
Last Checked: Aug 28 at 1:26PM
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 Mark 1 Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located in Fortune Way Business Park in Vista, California, this industrial commercial condo offers convenient access to both San Diego and South Orange County. The building includes a front door entrance and a roll-up door that provides access to the warehouse area. The warehouse provides storage space on both levels, but it is not suitable for vehicle storage. The main entry area features a reception area, a break room, and a bathroom. An office space situated between the entry and the warehouse can accommodate a couple of desks or function as a small showroom. The grounds are well-maintained by the owner association. The business park is located at the end of a cul-de-sac. This unit is a half unit that doesn’t extend from front to back. Long-term tenants currently occupy the property; please do not disturb them.
Key Highlights
- Convenient location near San Diego and South Orange County
- Two entrances: front door and roll‑up door to warehouse
- Includes reception area, break room, and bathroom
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
$14,944
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
4.56%
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%
$298,880
$298.9K
Cap Rate 7%
$213,486
$213.5K
Cap Rate 9%
$166,044
$166.0K
Market Conditions
NOI Build-Up for 725 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
$26.8K $36.96/SF
− Vacancy
−$3.8K −$5.25/SF
EGI
$23.0K $31.71/SF
− OpEx
−$8.0K −$11.10/SF
NOI
$14.9K $20.61/SF
Area
San Diego County, CA
Vacancy
14.20%
Lease Rate
$36.96 /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%
$298,880
Cap Rate 7%
$213,486
Cap Rate 9%
$166,044
Alternative Uses
Best Use
Flex RnD
$213.5K
$186.8K – $249.1K
NOI $14,944 @ 7.0% cap · market cap 4.56%
Second Best
Industrial
$118.5K
$103.7K – $138.3K
NOI $8,295 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$332.2K
$290.7K – $387.5K
NOI $23,252 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92081, CA
28,745
Population
11,075
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
3,230
Density / Sq Mi
$102,663
Median Household Income
$53,871
Median Earnings
$2,393
Median Rent
$774,800
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?
Flex space - Industrial commercial condo in Vista, near San Diego and Orange County.
Where is this flex space located?
The property is located at 2598 Fortune Way B Vista, CA.
What is the asking price?
The asking price for this property is $328,000.
What are key features of this property?
This property features: Convenient location near San Diego and South Orange County; Two entrances: front door and roll‑up door to warehouse; Includes reception area, break room, and bathroom
