Industrial Condominium with Office
New
For Sale
Contact for pricing
361 N Berry Street, Brea, CA 92821
The unit pairs dedicated office areas with warehouse space and ground-level loading access.
Property Size5,100 SF
Price / SF$450
Days on Market7
Property Features for 361 N Berry Street
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
700 SF
Drive-In Doors
2
Listing Agency:
Colliers - Los Angeles - Orange County, California
Listed By:
Zac Kolander · License #02096759
Source:
Crexi
Added: Sep 21
Changed: Sep 24
Last Checked: Sep 26 at 7:06AM
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 Colliers - Los Angeles - Orange County, California
Investment Insights
Based on property information with market context.
This warehouse condominium contains approximately 5,100 square feet, including about 700 square feet of office area. The office layout has a reception area, two private offices, and two restrooms. Warehouse features include 16-foot ceiling clearance and two ground-level loading doors. The property is part of a newer-construction industrial park.
At the corner of Lambert Road and Berry Street in Brea, the property offers access to the 57 Freeway and Imperial Highway.
At the corner of Lambert Road and Berry Street in Brea, the property offers access to the 57 Freeway and Imperial Highway.
Key Highlights
- Approximately 5,100 square feet, including ±700 square feet of office space
- Office area includes reception, two private offices, and two restrooms
- Warehouse ceiling clearance of 16 feet
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
$78,246
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
3.41%
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%
$1,564,920
$1.6M
Cap Rate 7%
$1,117,800
$1.1M
Cap Rate 9%
$869,400
$869.4K
Market Conditions
NOI Build-Up for 5,100 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
$96.7K $18.96/SF
− Vacancy
−$4.6K −$0.91/SF
EGI
$92.1K $18.05/SF
− OpEx
−$13.8K −$2.71/SF
NOI
$78.2K $15.34/SF
Area
Orange County, CA
Vacancy
4.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,564,920
Cap Rate 7%
$1,117,800
Cap Rate 9%
$869,400
Alternative Uses
Best Use
Warehouse
$1.12M
$978.1K – $1.30M
NOI $78,246 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,909 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,280
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92821, CA
41,335
Population
15,232
Households
2.7
Avg Household Size
40
Median Age
49%
College-Educated
93%
High-School Grad
14.1 sq mi
ZIP Area
2,932
Density / Sq Mi
$116,660
Median Household Income
$59,010
Median Earnings
$2,254
Median Rent
$851,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Pouch Self Storage — Brea, CA 92821
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- Comfy House Foods — 222 Gemini Ave, Brea, CA 92821
- Imperial Distribution Center — Brea, CA 92821
- Arovista Self Storage — 270 Arovista Ave, Brea, CA 92821
Frequently Asked Questions
What type of property is this?
Warehouse - The unit pairs dedicated office areas with warehouse space and ground-level loading access.
Where is this warehouse located?
The property is located at 361 N Berry Street Brea, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Approximately 5,100 square feet, including ±700 square feet of office space; Office area includes reception, two private offices, and two restrooms; Warehouse ceiling clearance of 16 feet
