Small-Bay Industrial
For Sale
Contact for pricing
311 North 2nd Street, Lompoc, CA 93436
Small-bay industrial buildings at 311–321 N 2nd Street with flexible loading, free-span ceilings, and ample onsite parking.
Property Size12,000 SF
Price / SF$207.92
Days on Market145
Property Features for 311 North 2nd Street
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Industrial
Zoning
I (Industrial) with SEO (Special Event Overlay)
Occupancy
50%
Investment Type
Owner/User
Additional Details
Cap Rate
5.27%
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Hayes Commercial Group
Listed By:
Nolan Tooley · License #CA 02127359
(805) 898-4383
Source:
Crexi
Added: May 29
Changed: Oct 8
Last Checked: Oct 20 at 6:21PM
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 Hayes Commercial Group
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Investment Insights
Based on property information with market context.
311–321 North 2nd Street presents a small-bay industrial opportunity featuring free-span ceilings, flexible loading, and ample onsite parking. The property is currently at 50% occupancy and is offered for sale with flexible acquisition strategies, including lease-up to stabilize.
The buildings are positioned in Lompoc, California, and the offering is described as suitable for either an investor seeking to execute a straightforward lease-up or an owner-user looking to occupy one or more units while leasing the remainder.
Per the provided remarks, the in-place performance is described at a 5.27% cap rate with a stated path to 7.10% stabilized occupancy.
The buildings are positioned in Lompoc, California, and the offering is described as suitable for either an investor seeking to execute a straightforward lease-up or an owner-user looking to occupy one or more units while leasing the remainder.
Per the provided remarks, the in-place performance is described at a 5.27% cap rate with a stated path to 7.10% stabilized occupancy.
Key Highlights
- Small‑bay industrial buildings at 311–321 N 2nd Street
- Year built: 1962
- Features free‑span ceilings and flexible loading
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,235
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,700
$1.8M
Cap Rate 7%
$1,274,786
$1.3M
Cap Rate 9%
$991,500
$991.5K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$122.4K $10.20/SF
− Vacancy
−$17.4K −$1.45/SF
EGI
$105.0K $8.75/SF
− OpEx
−$15.7K −$1.31/SF
NOI
$89.2K $7.44/SF
Area
Santa Barbara County, CA
Vacancy
14.23%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,784,700
Cap Rate 7%
$1,274,786
Cap Rate 9%
$991,500
Alternative Uses
Best Use
Warehouse
$1.27M
$1.12M – $1.49M
NOI $89,235 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.77M
$3.30M – $4.39M
NOI $263,641 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,588
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93436, CA
56,730
Population
18,928
Households
3
Avg Household Size
37
Median Age
17%
College-Educated
76%
High-School Grad
228.0 sq mi
ZIP Area
249
Density / Sq Mi
$76,241
Median Household Income
$36,340
Median Earnings
$1,578
Median Rent
$460,100
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?
Warehouse - Small-bay industrial buildings at 311–321 N 2nd Street with flexible loading, free-span ceilings, and ample onsite parking.
Where is this warehouse located?
The property is located at 311 North 2nd Street Lompoc, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Small‑bay industrial buildings at 311–321 N 2nd Street; Year built: 1962; Features free‑span ceilings and flexible loading
