Quonset Hut Workshop with
For Sale
$650,000
314 Lemon Street, Vallejo, CA 94590
Freestanding 1947 quonset hut on a 7,920 sq.-ft. lot with parking for 20 cars and custom cabinet production.
Property Size2,460 SF
Lot Size0.18 Acres
Price / SF$264.23
Days on Market38
Property Features for 314 Lemon Street
General Information
Standard status
Active
Size
2,460 SF
Total Parking Spaces
20
Lot size
0.18 Acres
Property subtype
Industrial
Zoning
Misc
Amenities
City Road.
Building Details
Year Built
1947
Listing Agency:
RE/MAX Gold
(415) 264-8869
Listed By:
Kevin Reilly · License #1371289
(415) 264-8869
Source:
Xome
Added: Jul 17
Changed: Aug 23
Last Checked: Aug 22 at 8:40AM
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 RE/MAX Gold
Investment Insights
Based on property information with market context.
A 1947 quonset hut workshop totaling 2,460 sq. ft. sits on a 7,920 sq. ft. lot with adequate parking for approximately 20 cars. The property is currently operated by the same tenant for the past 20 years, with in-place custom cabinet operations.
The site is zoned Misc., and it presents a compact, functional industrial configuration suited to a light manufacturing or workshop-type use.
With a long-term operating tenant and on-site parking support, this property offers a straightforward single-structure setup on its own lot.
The site is zoned Misc., and it presents a compact, functional industrial configuration suited to a light manufacturing or workshop-type use.
With a long-term operating tenant and on-site parking support, this property offers a straightforward single-structure setup on its own lot.
Key Highlights
- 1947 freestanding Quonset hut totaling 2,460 sq ft
- 7,920 sq ft lot with parking for 20 cars
- Zoned Misc.
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
$41,051
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
6.32%
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%
$821,020
$821.0K
Cap Rate 7%
$586,443
$586.4K
Cap Rate 9%
$456,122
$456.1K
Market Conditions
NOI Build-Up for 2,460 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
$63.5K $25.80/SF
− Vacancy
−$4.8K −$1.96/SF
EGI
$58.6K $23.84/SF
− OpEx
−$17.6K −$7.15/SF
NOI
$41.1K $16.69/SF
Area
Vallejo, CA
Vacancy
7.60%
Lease Rate
$25.80 /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%
$821,020
Cap Rate 7%
$586,443
Cap Rate 9%
$456,122
Alternative Uses
Best Use
Industrial
$586.4K
$513.1K – $684.2K
NOI $41,051 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,807 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 94590, CA
39,981
Population
16,500
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
6,058
Density / Sq Mi
$66,957
Median Household Income
$43,383
Median Earnings
$1,768
Median Rent
$510,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Freestanding 1947 quonset hut on a 7,920 sq.-ft. lot with parking for 20 cars and custom cabinet production.
Where is this manufacturing property located?
The property is located at 314 Lemon Street Vallejo, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1947 freestanding Quonset hut totaling 2,460 sq ft; 7,920 sq ft lot with parking for 20 cars; Zoned Misc.
