Freestanding Flex and
For Sale
Contact for pricing
539 Chaney St Bldg 14, Lake Elsinore, CA 92530
Freestanding building offering office space with a sizable mezzanine, plus fenced yard and multiple dock and grade-level doors.
Property Size42,000 SF
Price / SF$278
Days on Market235
Property Features for 539 Chaney St Bldg 14
General Information
Standard status
Active
Size
42,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Lee & Associates
(951) 276-3600
Listed By:
Justin B Null, SIOR
(714) 318-3571
Source:
Moodyscre
Added: Jan 20
Changed: Sep 3
Last Checked: Sep 12 at 10:21AM
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
Investment Insights
Based on property information with market context.
Fairway Business Park Phase III presents a freestanding building configured with 1,972 SF of first-floor office and 1,830 SF of mezzanine. The facility is designed for warehouse operations with 26' clear height, three grade-level doors, and three dock-high doors. A fenced and secured yard provides additional outdoor space for controlled access.
Located at 539 Chaney St, Bldg 14 in Lake Elsinore, the property sits within the Fairway Business Park Phase III development.
This flex-style layout combines dedicated office areas with warehouse height and door capacity, supported by a secured yard for day-to-day logistics and staging needs.
Located at 539 Chaney St, Bldg 14 in Lake Elsinore, the property sits within the Fairway Business Park Phase III development.
This flex-style layout combines dedicated office areas with warehouse height and door capacity, supported by a secured yard for day-to-day logistics and staging needs.
Key Highlights
- Freestanding office building with 1,972 SF 1st floor office plus 1,830 SF mezzanine
- 26' clear height
- 3 grade level doors and 3 dock high doors
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
$418,804
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
3.59%
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%
$8,376,080
$8.4M
Cap Rate 7%
$5,982,914
$6.0M
Cap Rate 9%
$4,653,378
$4.7M
Market Conditions
NOI Build-Up for 42,000 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
$524.2K $12.48/SF
− Vacancy
−$31.4K −$0.75/SF
EGI
$492.7K $11.73/SF
− OpEx
−$73.9K −$1.76/SF
NOI
$418.8K $9.97/SF
Area
Riverside County, CA
Vacancy
6.00%
Lease Rate
$12.48 /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%
$8,376,080
Cap Rate 7%
$5,982,914
Cap Rate 9%
$4,653,378
Alternative Uses
Best Use
Warehouse
$5.98M
$5.24M – $6.98M
NOI $418,804 @ 7.0% cap · market cap 3.59%
Second Best
Industrial
$4.93M
$4.31M – $5.75M
NOI $344,897 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$12.58M
$11.01M – $14.68M
NOI $880,774 @ 7.0% cap · market cap 7.54%
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
769
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92530, CA
59,098
Population
18,502
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
77.1 sq mi
ZIP Area
767
Density / Sq Mi
$84,799
Median Household Income
$41,138
Median Earnings
$1,705
Median Rent
$467,400
Median Home Value
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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 - Freestanding building offering office space with a sizable mezzanine, plus fenced yard and multiple dock and grade-level doors.
Where is this flex space located?
The property is located at 539 Chaney St Bldg 14 Lake Elsinore, CA.
What is the asking price?
The asking price for this property is $11,676,000.
What are key features of this property?
This property features: Freestanding office building with 1,972 SF 1st floor office plus 1,830 SF mezzanine; 26' clear height; 3 grade level doors and 3 dock high doors
