Freestanding Industrial Building
For Sale
Contact for pricing
435 E Carmel St, San Marcos, CA
11,316 SF freestanding industrial building for sale or lease.
Property Size11,316 SF
Lot Size0.42 Acres
Price / SF$357.02
Days on Market306
Property Features for 435 E Carmel St
General Information
Standard status
Active
Size
11,316 SF
Lot size
0.42 Acres
Property subtype
INDUSTRIAL
Lease Type
Gross
Properties For Sale
at 435 E Carmel St Contact us- Floor
- Bldg
- Size
- 11,316 SF
- Type
- INDUSTRIAL
- Lease Type
- GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
435 E Carmel St
- For Sale or Lease | 11,316 sf
- Freestanding industrial building
Contact us
Listing Agency:
Lee & Associates | North San Diego County
(760) 929-9700
Listed By:
Peter Merz · License #01269042
(760) 685-1813
Source:
Moodyscre
Added: Nov 12, 2025
Changed: Sep 4
Last Checked: Sep 14 at 12:02PM
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 | North San Diego County
Investment Insights
Based on property information with market context.
This is a freestanding industrial building offering 11,316 square feet of space. The property is available for sale or lease.
Key Highlights
- Freestanding industrial building
- 11,316 sf available
- For Sale
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
$157,206
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
3.89%
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%
$3,144,120
$3.1M
Cap Rate 7%
$2,245,800
$2.2M
Cap Rate 9%
$1,746,733
$1.7M
Market Conditions
NOI Build-Up for 11,316 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
$203.7K $18.00/SF
− Vacancy
−$18.7K −$1.66/SF
EGI
$184.9K $16.34/SF
− OpEx
−$27.7K −$2.45/SF
NOI
$157.2K $13.89/SF
Area
San Diego County, CA
Vacancy
9.20%
Lease Rate
$18.00 /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%
$3,144,120
Cap Rate 7%
$2,245,800
Cap Rate 9%
$1,746,733
Alternative Uses
Best Use
Warehouse
$2.25M
$1.97M – $2.62M
NOI $157,206 @ 7.0% cap · market cap 3.89%
Second Best
Industrial
$1.85M
$1.62M – $2.16M
NOI $129,464 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$5.18M
$4.54M – $6.05M
NOI $362,923 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Questions? Ask Rey
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- San Marcos Movers — 283 W Mission Rd, San Marcos, CA 92069
Frequently Asked Questions
What type of property is this?
Warehouse - 11,316 SF freestanding industrial building for sale or lease.
Where is this warehouse located?
The property is located at 435 E Carmel St San Marcos, CA.
What is the asking price?
The asking price for this property is $4,040,000.
What are key features of this property?
This property features: Freestanding industrial building; 11,316 sf available; For Sale
