Free-Standing Flex
For Sale
$650,000
420 N O St, Lompoc, CA 93436
Steel-frame commercial facility with open interior planning, alley access, and a rolling garage bay door.
Property Size6,700 SF
Lot Size0.24 Acres
Price / SF$97.01
Days on Market63
Property Features for 420 N O St
General Information
Standard status
Active
Size
6,700 SF
Lot size
0.24 Acres
Property subtype
Business Opportunity
Warehouse & Industrial
Warehouse Space
6,700 SF
Drive-In Doors
1
Power
200 amps
Voltage
240 V
Three-Phase Power
Yes
Heavy Power
Yes
Building Details
Buildings
1
Building Size
6,700 SF
Construction
steel frame
Listing Agency:
LPT REALTY, INC
(805) 588-2327
Listed By:
Todd Ranney
(805) 588-2327
Source:
Exprealty
Added: Jun 8
Changed: Aug 9
Last Checked: Aug 9 at 4:19PM
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 LPT REALTY, INC
Investment Insights
Based on property information with market context.
This free-standing flex property in Lompoc, California, contains 6,700 square feet on a 0.24-acre lot. The steel-frame building has high-pitched ceilings and an open interior that can support office areas, retail frontage, manufacturing partitions, storage, or distribution functions. Its prior use was as an auto body repair shop.
Infrastructure includes heavy-duty 3-phase electrical service rated at 200 Amps and 240V, providing capacity for machinery, specialized lighting, or cooling equipment. Alley access and a rolling garage bay door support loading and unloading activity. The property is located at 420 N O St in Lompoc.
Infrastructure includes heavy-duty 3-phase electrical service rated at 200 Amps and 240V, providing capacity for machinery, specialized lighting, or cooling equipment. Alley access and a rolling garage bay door support loading and unloading activity. The property is located at 420 N O St in Lompoc.
Key Highlights
- 6,700‑square‑foot steel‑frame flex building on a 0.24‑acre lot
- Heavy‑duty 3‑phase power rated at 200 Amps and 240V
- High‑pitched ceilings provide substantial vertical clearance
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
$49,823
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
7.67%
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%
$996,460
$996.5K
Cap Rate 7%
$711,757
$711.8K
Cap Rate 9%
$553,589
$553.6K
Market Conditions
NOI Build-Up for 6,700 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
$68.3K $10.20/SF
− Vacancy
−$9.7K −$1.45/SF
EGI
$58.6K $8.75/SF
− OpEx
−$8.8K −$1.31/SF
NOI
$49.8K $7.44/SF
Area
Santa Barbara County, CA
Vacancy
14.23%
Lease Rate
$10.20 /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%
$996,460
Cap Rate 7%
$711,757
Cap Rate 9%
$553,589
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.74M
NOI $104,118 @ 7.0% cap · market cap 16.02%
Second Best
Flex RnD
$1.23M
$1.07M – $1.43M
NOI $85,910 @ 7.0% cap · market cap 13.22%
Theoretical Best
Multifamily LT 5
$2.10M
$1.84M – $2.45M
NOI $147,200 @ 7.0% cap · market cap 22.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93436, CA
56,730
Population
18,928
Households
3
Avg Household Size
37
Median Age
17%
College-Educated
76%
High-School Grad
228.0 sq mi
ZIP Area
249
Density / Sq Mi
$76,241
Median Household Income
$36,340
Median Earnings
$1,578
Median Rent
$460,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame commercial facility with open interior planning, alley access, and a rolling garage bay door.
Where is this flex space located?
The property is located at 420 N O St Lompoc, 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: 6,700‑square‑foot steel‑frame flex building on a 0.24‑acre lot; Heavy‑duty 3‑phase power rated at 200 Amps and 240V; High‑pitched ceilings provide substantial vertical clearance
