Refurbished Flex Industrial
For Sale
$5,548,000
508 Constitution Ave, Camarillo, CA 93012
M-1 zoning supports manufacturing and warehouse uses with fenced truck loading.
Property Size22,645 SF
Price / SF$244
Days on Market37
Property Features for 508 Constitution Ave
General Information
Standard status
Active
Size
22,645 SF
Property subtype
Industrial
Building Details
Building Size
22,645 SF
Year Built
1981
Stories
1
Properties For Sale
at 508 Constitution Ave Contact us- Suite
- 508 Constitution
- Size
- 22,645 SF
- Availability
- Not For Lease
Available Space
Listing Agency:
Daum Commercial
(805) 384-8815
Listed By:
Mitchell Conlee · License #CA 00912213
(805) 384-8815
Source:
Daumcommercial
Added: Jul 25
Changed: Aug 29
Last Checked: Jul 17 at 2:06AM
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 Daum Commercial
Investment Insights
Based on property information with market context.
This freestanding flex industrial building contains 22,645 square feet, including 1,800 square feet of shop offices, a storage mezzanine, warehouse space, and restrooms. The office, warehouse, and restroom areas have been refurbished and painted, providing a refreshed setting for industrial operations.
M-1 zoning accommodates manufacturing and warehouse uses. The property is located at 508 Constitution Ave in Camarillo, on a quiet cul-de-sac with close access to the 101 Freeway. A fenced truck loading area is included for handling industrial deliveries and shipments.
M-1 zoning accommodates manufacturing and warehouse uses. The property is located at 508 Constitution Ave in Camarillo, on a quiet cul-de-sac with close access to the 101 Freeway. A fenced truck loading area is included for handling industrial deliveries and shipments.
Key Highlights
- 22,645‑square‑foot freestanding flex industrial building
- 1,800 SF of shop offices with storage mezzanine
- M‑1 zoning supports manufacturing and warehouse uses
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
$280,279
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
5.05%
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%
$5,605,580
$5.6M
Cap Rate 7%
$4,003,986
$4.0M
Cap Rate 9%
$3,114,211
$3.1M
Market Conditions
NOI Build-Up for 22,645 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
$347.8K $15.36/SF
− Vacancy
−$18.1K −$0.80/SF
EGI
$329.7K $14.56/SF
− OpEx
−$49.5K −$2.18/SF
NOI
$280.3K $12.38/SF
Area
Ventura County, CA
Vacancy
5.20%
Lease Rate
$15.36 /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%
$5,605,580
Cap Rate 7%
$4,003,986
Cap Rate 9%
$3,114,211
Alternative Uses
Best Use
Warehouse
$4.00M
$3.50M – $4.67M
NOI $280,279 @ 7.0% cap · market cap 5.05%
Second Best
Industrial
$3.30M
$2.89M – $3.85M
NOI $230,818 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$7.77M
$6.80M – $9.07M
NOI $544,176 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93012, CA
37,550
Population
14,399
Households
2.6
Avg Household Size
44
Median Age
49%
College-Educated
95%
High-School Grad
50.1 sq mi
ZIP Area
750
Density / Sq Mi
$122,110
Median Household Income
$63,221
Median Earnings
$2,790
Median Rent
$794,400
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 - M-1 zoning supports manufacturing and warehouse uses with fenced truck loading.
Where is this flex space located?
The property is located at 508 Constitution Ave Camarillo, CA.
What is the asking price?
The asking price for this property is $5,548,000.
What are key features of this property?
This property features: 22,645‑square‑foot freestanding flex industrial building; 1,800 SF of shop offices with storage mezzanine; M‑1 zoning supports manufacturing and warehouse uses
