Industrial Condo with
For Sale
$2,350,625
26180 Enterprise Way Unit 100, Lake Forest, CA 92630
Industrial condo featuring two large offices, four private offices, and a 22' clear height with one GL door.
Property Size3,761 SF
Days on Market171
Property Features for 26180 Enterprise Way Unit 100
General Information
Standard status
Active
Size
3,761 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
1
Building Details
Building Size
3,761 SF
Year Built
2004
Listing Agency:
Lee & Associates
Listed By:
Ted Rommel · License #CalDRE #00830845
(949) 293-3627
Source:
Lee-associates
Added: Mar 18
Changed: Sep 3
Last Checked: Sep 4 at 4:14AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This industrial condo includes two large offices and four private offices, along with three restrooms and a shower. Interior amenities include a lobby, a large open area, and a kitchenette. The unit is configured with one grade-level (GL) door and offers 22' clear height.
The property is located at 26180 Enterprise Way in Lake Forest, CA 92630, and provides an unobstructed view of Saddleback Mountain.
With a mix of office space and warehouse functionality, the layout is designed to support workplace and operational needs within a single industrial condominium setting.
The property is located at 26180 Enterprise Way in Lake Forest, CA 92630, and provides an unobstructed view of Saddleback Mountain.
With a mix of office space and warehouse functionality, the layout is designed to support workplace and operational needs within a single industrial condominium setting.
Key Highlights
- Industrial condo with lobby, large open area, and kitchenette
- Office layout includes 2 large offices and 4 private offices
- 3 restrooms plus a shower
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
$73,959
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
3.15%
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%
$1,479,180
$1.5M
Cap Rate 7%
$1,056,557
$1.1M
Cap Rate 9%
$821,767
$821.8K
Market Conditions
NOI Build-Up for 3,761 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
$112.4K $29.88/SF
− Vacancy
−$13.8K −$3.66/SF
EGI
$98.6K $26.22/SF
− OpEx
−$24.7K −$6.55/SF
NOI
$74.0K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /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%
$1,479,180
Cap Rate 7%
$1,056,557
Cap Rate 9%
$821,767
Alternative Uses
Best Use
Office B
$1.06M
$924.5K – $1.23M
NOI $73,959 @ 7.0% cap · market cap 3.15%
Second Best
Flex RnD
$977.6K
$855.4K – $1.14M
NOI $68,429 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,427 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,450
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92630, CA
66,359
Population
24,390
Households
2.7
Avg Household Size
40
Median Age
47%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
6,320
Density / Sq Mi
$119,984
Median Household Income
$57,277
Median Earnings
$2,614
Median Rent
$858,900
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?
Flex space - Industrial condo featuring two large offices, four private offices, and a 22' clear height with one GL door.
Where is this flex space located?
The property is located at 26180 Enterprise Way Unit 100 Lake Forest, CA.
What is the asking price?
The asking price for this property is $2,350,625.
What are key features of this property?
This property features: Industrial condo with lobby, large open area, and kitchenette; Office layout includes 2 large offices and 4 private offices; 3 restrooms plus a shower
