Lake Forest Flex Building
For Sale
$3,393,875
26806 Vista Terrace, Lake Forest, CA 92630
7,145 SF flex building in Lake Forest, California.
Property Size7,145 SF
Lot Size0.10 Acres
Price / SF$475
Days on Market148
Property Features for 26806 Vista Terrace
General Information
Standard status
Active
Size
7,145 SF
Lot size
0.10 Acres
Property subtype
FlexIndustrial
Listing Agency:
CBRE
(949) 725-8536
Listed By:
Jake Marthens · License #02096966
(949) 725-8536
Source:
Cbre
Added: Mar 25
Changed: Aug 14
Last Checked: Aug 19 at 5:07AM
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 CBRE
Investment Insights
Based on property information with market context.
This property is a flex building with approximately 7,145 square feet of space, situated on a 0.1-acre parcel. Constructed in 1990, the building includes approximately 5,584 square feet of office space. It features one ground-level door and a minimum clearance height of 22 feet. The property has 200 Amps of power (verify). Parking is available at a ratio of 2.57:1, providing 18 stalls. The zoning is M-1, Lake Forest.
Key Highlights
- ±7,145 SF Flex Building
- ±5,584 SF of Office Space**
- 22' Minimum Clearance Height
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
$129,999
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
3.83%
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%
$2,599,980
$2.6M
Cap Rate 7%
$1,857,129
$1.9M
Cap Rate 9%
$1,444,433
$1.4M
Market Conditions
NOI Build-Up for 7,145 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
$237.5K $33.24/SF
− Vacancy
−$37.5K −$5.25/SF
EGI
$200.0K $27.99/SF
− OpEx
−$70.0K −$9.80/SF
NOI
$130.0K $18.19/SF
Area
Orange County, CA
Vacancy
15.79%
Lease Rate
$33.24 /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%
$2,599,980
Cap Rate 7%
$1,857,129
Cap Rate 9%
$1,444,433
Alternative Uses
Best Use
Flex RnD
$1.86M
$1.62M – $2.17M
NOI $129,999 @ 7.0% cap · market cap 3.83%
Second Best
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,497 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,990 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
Under-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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 7,145 SF flex building in Lake Forest, California.
Where is this flex space located?
The property is located at 26806 Vista Terrace Lake Forest, CA.
What is the asking price?
The asking price for this property is $3,393,875.
What are key features of this property?
This property features: ±7,145 SF Flex Building; ±5,584 SF of Office Space**; 22' Minimum Clearance Height
