Remodeled Medical Office
For Sale
Contact for pricing
3231 WARING CT, Oceanside, CA 92056
Remodeled medical office suite with custom cabinetry and private restroom.
Property Size1,456 SF
Price / SF$319.37
Days on Market100
Property Features for 3231 WARING CT
General Information
Standard status
Active
Size
1,456 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
1974
Units
117
Listing Agency:
CIRE Partners
Listed By:
Andrew Slade · License #CA 01746250
Source:
Crexi
Added: May 12
Changed: Aug 8
Last Checked: Aug 19 at 5:40AM
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 CIRE Partners
Investment Insights
Based on property information with market context.
This recently remodeled medical office suite is located at the front entrance of the complex. The space encompasses approximately 1,456 rentable square feet. It features a generous patient lounge and an expansive front desk area with custom-built-in cabinetry. The layout includes four private exam rooms and a sizable procedure room. A kitchenette with its own private entry is located just off the reception area. The physician’s private office is located in a quiet corner of the suite and includes an en-suite restroom. A second restroom is available for patients and visitors off the main corridor. This property is located in Oceanside, CA.
Key Highlights
- Recently remodeled medical office suite.
- Approximately 1,456 rentable square feet.
- Features four private exam rooms and a sizable procedure room.
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
$26,418
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
5.68%
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%
$528,360
$528.4K
Cap Rate 7%
$377,400
$377.4K
Cap Rate 9%
$293,533
$293.5K
Market Conditions
NOI Build-Up for 1,456 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
$48.9K $33.60/SF
− Vacancy
−$4.9K −$3.36/SF
EGI
$44.0K $30.24/SF
− OpEx
−$17.6K −$12.10/SF
NOI
$26.4K $18.14/SF
Area
Oceanside, CA
Vacancy
10.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$528,360
Cap Rate 7%
$377,400
Cap Rate 9%
$293,533
Alternative Uses
Best Use
Healthcare Medical
$377.4K
$330.2K – $440.3K
NOI $26,418 @ 7.0% cap · market cap 5.68%
Second Best
Office B
$358.7K
$313.9K – $418.5K
NOI $25,110 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$487.0K
$426.1K – $568.2K
NOI $34,089 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,567
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92056, CA
53,750
Population
20,514
Households
2.6
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
12.3 sq mi
ZIP Area
4,370
Density / Sq Mi
$102,570
Median Household Income
$50,029
Median Earnings
$2,536
Median Rent
$696,400
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?
Medical Office Space - Remodeled medical office suite with custom cabinetry and private restroom.
Where is this medical office space located?
The property is located at 3231 WARING CT Oceanside, CA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Recently remodeled medical office suite.; Approximately 1,456 rentable square feet.; Features four private exam rooms and a sizable procedure room.
