Freestanding Flex Space with Fenced
For Sale
$2,810,000
400 Commercial Way, La Habra, CA 90631
Renovated offices complement a warehouse with automatic ground-level truck access.
Property Size6,451 SF
Lot Size0.38 Acres
Price / SF$435.59
Days on Market59
Property Features for 400 Commercial Way
General Information
Standard status
Active
Size
6,451 SF
Lot size
0.38 Acres
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
2,967 SF
Mezzanine
300 SF
Drive-In Doors
2
Power
400 amps
Building Details
Building Size
6,451 SF
Year Built
1985
Buildings
1
Listing Agency:
Lee & Associates
(714) 306-2089
Listed By:
Brett Leiter · License #CalDRE #02125806
(714) 306-2089
Source:
Lee-associates
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 9:46AM
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
Investment Insights
Based on property information with market context.
This freestanding flex property combines industrial workspace with recently updated office improvements. The 6,451 SF building includes approximately 2,967 SF of renovated office space, a warehouse with 16’ clear height, and a bonus mezzanine of approximately 300 SF. Two ground-level automatic truck doors support loading, while 400 Amps of power serve the facility. Recent work includes a silicon roof coating, warehouse skylights, HVAC installed approximately 4 years ago, and LED lighting throughout the warehouse and office areas.
The property occupies an approximately 0.38-acre corner lot at 400 Commercial Way in La Habra, California. A fenced concrete yard of approximately 5,500 SF provides secured exterior work or storage area. The building was constructed in 1985 and is configured for industrial and manufacturing use.
The property occupies an approximately 0.38-acre corner lot at 400 Commercial Way in La Habra, California. A fenced concrete yard of approximately 5,500 SF provides secured exterior work or storage area. The building was constructed in 1985 and is configured for industrial and manufacturing use.
Key Highlights
- ±6,451 SF freestanding flex building on a ±0.38 AC corner lot
- ±5,500 SF fenced concrete yard
- ±2,967 SF recently renovated office space
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
$126,857
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
4.51%
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%
$2,537,140
$2.5M
Cap Rate 7%
$1,812,243
$1.8M
Cap Rate 9%
$1,409,522
$1.4M
Market Conditions
NOI Build-Up for 6,451 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
$192.8K $29.88/SF
− Vacancy
−$23.6K −$3.66/SF
EGI
$169.1K $26.22/SF
− OpEx
−$42.3K −$6.55/SF
NOI
$126.9K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,537,140
Cap Rate 7%
$1,812,243
Cap Rate 9%
$1,409,522
Alternative Uses
Best Use
Office B
$1.81M
$1.59M – $2.11M
NOI $126,857 @ 7.0% cap · market cap 4.51%
Second Best
Flex RnD
$1.68M
$1.47M – $1.96M
NOI $117,372 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,673 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,359
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90631, CA
69,533
Population
23,390
Households
3
Avg Household Size
38
Median Age
32%
College-Educated
86%
High-School Grad
14.0 sq mi
ZIP Area
4,967
Density / Sq Mi
$102,208
Median Household Income
$46,334
Median Earnings
$2,029
Median Rent
$757,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Renovated offices complement a warehouse with automatic ground-level truck access.
Where is this flex space located?
The property is located at 400 Commercial Way La Habra, CA.
What is the asking price?
The asking price for this property is $2,810,000.
What are key features of this property?
This property features: ±6,451 SF freestanding flex building on a ±0.38 AC corner lot; ±5,500 SF fenced concrete yard; ±2,967 SF recently renovated office space
