Industrial Condo with Fenced
For Sale
$425,000
4785 Traffic WAY, Atascadero, CA 93422
Industrial condo unit with roll-up door access, 3-phase power, and a fenced yard with covered workspace.
Property Size1,500 SF
Price / SF$283.33
Days on Market73
Property Features for 4785 Traffic WAY
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Amenities
3
Composition
Building Details
Year Built
1979
Listing Agency:
Max Zappas, Broker
(805) 674-4743
Listed By:
Nichole Harris · License #02150984
Source:
Xome
Added: Jun 19
Changed: Aug 28
Last Checked: Aug 29 at 7:36AM
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 Max Zappas, Broker
Investment Insights
Based on property information with market context.
This industrial condo unit offers warehouse space with roll-up door access and 3-phase power. The property includes a fenced yard with a concrete slab and covered workspace, creating combined indoor and outdoor functional area. Showings are by appointment only, and occupants must not be disturbed.
The unit is located within a commercial complex in Atascadero and provides convenient access to Highway 101 for connectivity throughout the Central Coast and greater North County market. A seller leaseback is in place, creating an opportunity for immediate income following close of escrow.
Approximately a 1,500 SF warehouse portion is paired with approximately 2,700 SF of combined indoor and outdoor area, supporting flexible day-to-day industrial needs within a low-maintenance condo setup.
The unit is located within a commercial complex in Atascadero and provides convenient access to Highway 101 for connectivity throughout the Central Coast and greater North County market. A seller leaseback is in place, creating an opportunity for immediate income following close of escrow.
Approximately a 1,500 SF warehouse portion is paired with approximately 2,700 SF of combined indoor and outdoor area, supporting flexible day-to-day industrial needs within a low-maintenance condo setup.
Key Highlights
- Approx. 1,500 SF industrial condo unit built in 1979 with warehouse space and roll‑up door access
- 3‑phase power and functional combined indoor/outdoor area of approx. 2,700 SF
- Fenced yard with concrete slab plus covered workspace for added outdoor work area
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
$17,014
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
4.00%
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%
$340,280
$340.3K
Cap Rate 7%
$243,057
$243.1K
Cap Rate 9%
$189,044
$189.0K
Market Conditions
NOI Build-Up for 1,500 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
$20.7K $13.80/SF
− Vacancy
−$683 −$0.46/SF
EGI
$20.0K $13.34/SF
− OpEx
−$3.0K −$2.00/SF
NOI
$17.0K $11.34/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$13.80 /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%
$340,280
Cap Rate 7%
$243,057
Cap Rate 9%
$189,044
Alternative Uses
Best Use
Warehouse
$243.1K
$212.7K – $283.6K
NOI $17,014 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$589.9K
$516.2K – $688.3K
NOI $41,295 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93422, CA
33,041
Population
13,702
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
68.8 sq mi
ZIP Area
480
Density / Sq Mi
$89,916
Median Household Income
$46,939
Median Earnings
$1,841
Median Rent
$692,100
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.
Similar Off Market Nearby
- Traffic Way Storage — 5395 Traffic Way, Atascadero, CA 93422
- Stow-It Mini Storage — 5325 Traffic Way, Atascadero, CA 93422
- Atascadero RV Storage — 4990 Traffic Way, Atascadero, CA 93422
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condo unit with roll-up door access, 3-phase power, and a fenced yard with covered workspace.
Where is this warehouse located?
The property is located at 4785 Traffic WAY Atascadero, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Approx. 1,500 SF industrial condo unit built in 1979 with warehouse space and roll‑up door access; 3‑phase power and functional combined indoor/outdoor area of approx. 2,700 SF; Fenced yard with concrete slab plus covered workspace for added outdoor work area
