New Construction Warehouse
For Sale
$2,058,155
37361 Industry Way, Murrieta, CA 92563
New construction warehouse building completed in February 2023.
Property Size6,508 SF
Price / SF$316.25
Days on Market278
Property Features for 37361 Industry Way
General Information
Standard status
Active
Size
6,508 SF
Property subtype
Industrial
Building Details
Building Size
6,508 SF
Year Built
2023
Listing Agency:
Lee & Associates - Temecula Valley
(951) 445-4508
Listed By:
Michael Strode, MBA, CCIM, SIOR · License #CalDRE #00798900
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 26
Last Checked: Aug 30 at 3:38PM
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 Lee & Associates - Temecula Valley
Investment Insights
Based on property information with market context.
This is a new construction, high-quality, and energy-efficient warehouse building, part of the French Valley Airport Center Phase III. The building was completed in February 2023 and offers 6508 square feet of space. It is located at 37361 Industry Way, Murrieta, CA 92563.
Key Highlights
- New Construction (Completed February 2023)
- High‑Quality Building, ensure durability and lasting value.
- Energy Efficient Building
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
$74,560
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
3.62%
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%
$1,491,200
$1.5M
Cap Rate 7%
$1,065,143
$1.1M
Cap Rate 9%
$828,444
$828.4K
Market Conditions
NOI Build-Up for 6,508 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
$93.7K $14.40/SF
− Vacancy
−$6.0K −$0.92/SF
EGI
$87.7K $13.48/SF
− OpEx
−$13.2K −$2.02/SF
NOI
$74.6K $11.46/SF
Area
Murrieta, CA
Vacancy
6.40%
Lease Rate
$14.40 /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%
$1,491,200
Cap Rate 7%
$1,065,143
Cap Rate 9%
$828,444
Alternative Uses
Best Use
Warehouse
$1.07M
$932.0K – $1.24M
NOI $74,560 @ 7.0% cap · market cap 3.62%
Second Best
Industrial
$877.2K
$767.5K – $1.02M
NOI $61,402 @ 7.0% cap · market cap 2.98%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $143,911 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92563, CA
73,224
Population
24,020
Households
3
Avg Household Size
35
Median Age
33%
College-Educated
93%
High-School Grad
22.6 sq mi
ZIP Area
3,240
Density / Sq Mi
$118,519
Median Household Income
$51,772
Median Earnings
$2,588
Median Rent
$615,700
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - New construction warehouse building completed in February 2023.
Where is this warehouse located?
The property is located at 37361 Industry Way Murrieta, CA.
What is the asking price?
The asking price for this property is $2,058,155.
What are key features of this property?
This property features: New Construction (Completed February 2023); High‑Quality Building, ensure durability and lasting value.; Energy Efficient Building
