Flex Space with Office
New
For Sale
$965,000
5380 Gateway Plaza, Benicia, CA 94510
Professional office and warehouse configuration with freeway access, signage exposure, and additional storage capacity.
Property Size3,792 SF
Price / SF$254.48
Days on Market2
Property Features for 5380 Gateway Plaza
General Information
Standard status
Active
Size
3,792 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
Central air
Central Cooling
Central Heating
Concrete Slab Flooring
Building Details
Year Built
2002
Listing Agency:
TWIN OAKS REAL ESTATE INC
7468700
Listed By:
TERRIN KELLY
(707) 689-1089
Source:
Corcoran
Added: Sep 9
Last Checked: Sep 10 at 5:55AM
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 TWIN OAKS REAL ESTATE INC
Investment Insights
Based on property information with market context.
This 3,792-square-foot flex property combines a professional office layout with warehouse and storage areas. The interior includes three private offices, a conference room, reception and lobby areas, a dedicated printer/copy room, kitchen, restroom, warehouse space, and additional storage. Built in 2002, the property also includes a permitted second-story area for storage; improvements in that area have not received final approval and it is not represented as finished or occupiable office space.
Located at 5380 Gateway Plaza in Benicia, the property offers immediate access to I-680. The building and signage are visible to passing traffic, providing a practical combination of office functionality, warehouse capacity, storage, and freeway connectivity for an owner-user or investor.
Located at 5380 Gateway Plaza in Benicia, the property offers immediate access to I-680. The building and signage are visible to passing traffic, providing a practical combination of office functionality, warehouse capacity, storage, and freeway connectivity for an owner-user or investor.
Key Highlights
- 3,792 SF flex property built in 2002
- Three private offices, conference room, reception and lobby areas
- Warehouse space, kitchen, restroom, printer/copy room, and additional storage
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
$62,110
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
6.44%
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%
$1,242,200
$1.2M
Cap Rate 7%
$887,286
$887.3K
Cap Rate 9%
$690,111
$690.1K
Market Conditions
NOI Build-Up for 3,792 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
$104.7K $27.60/SF
− Vacancy
−$9.1K −$2.40/SF
EGI
$95.6K $25.20/SF
− OpEx
−$33.4K −$8.82/SF
NOI
$62.1K $16.38/SF
Area
Solano County, CA
Vacancy
8.70%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,242,200
Cap Rate 7%
$887,286
Cap Rate 9%
$690,111
Alternative Uses
Best Use
Flex RnD
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 6.44%
Second Best
Warehouse
$652.3K
$570.7K – $761.0K
NOI $45,659 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,576 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94510, CA
27,174
Population
11,463
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
931
Density / Sq Mi
$125,222
Median Household Income
$70,569
Median Earnings
$2,234
Median Rent
$778,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Professional office and warehouse configuration with freeway access, signage exposure, and additional storage capacity.
Where is this flex space located?
The property is located at 5380 Gateway Plaza Benicia, CA.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: 3,792 SF flex property built in 2002; Three private offices, conference room, reception and lobby areas; Warehouse space, kitchen, restroom, printer/copy room, and additional storage
