First-Floor Office
For Sale
Contact for pricing
5927 Balfour Court, Carlsbad, CA 92008
Office condominium offering a ground-level workspace in a 2005 commercial building.
Property Size1,130 SF
Price / SF$450
Days on Market13
Property Features for 5927 Balfour Court
General Information
Standard status
Active
Size
1,130 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Additional Details
Floor
First Floor
Building Details
Year Built
2005
Buildings
1
Stories
2
Listing Agency:
Urban Property Group, Inc.
(858) 874-1989
Listed By:
Bill Shrader · License #CA 01033317
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 10 at 11:58AM
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 Urban Property Group, Inc.
Investment Insights
Based on property information with market context.
This first-floor office condominium comprises approximately 1,130 SF within a commercial building constructed in 2005. The property is located at 5927 Balfour Court in Carlsbad, California, providing a defined office unit for an owner or occupant seeking a dedicated commercial address.
Key Highlights
- Approximately 1,130 SF of office space
- First‑floor office condominium
- Building constructed in 2005
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
$24,332
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
4.79%
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%
$486,640
$486.6K
Cap Rate 7%
$347,600
$347.6K
Cap Rate 9%
$270,356
$270.4K
Market Conditions
NOI Build-Up for 1,130 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
$37.3K $33.00/SF
− Vacancy
−$4.8K −$4.29/SF
EGI
$32.4K $28.71/SF
− OpEx
−$8.1K −$7.18/SF
NOI
$24.3K $21.53/SF
Area
Carlsbad, CA
Vacancy
13.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$486,640
Cap Rate 7%
$347,600
Cap Rate 9%
$270,356
Alternative Uses
Best Use
Office B
$347.6K
$304.2K – $405.5K
NOI $24,332 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.3K
$363.4K – $484.5K
NOI $29,068 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 92008, CA
27,282
Population
13,102
Households
2.1
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
10.4 sq mi
ZIP Area
2,623
Density / Sq Mi
$105,371
Median Household Income
$55,965
Median Earnings
$2,343
Median Rent
$1,142,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium offering a ground-level workspace in a 2005 commercial building.
Where is this office units located?
The property is located at 5927 Balfour Court Carlsbad, CA.
What is the asking price?
The asking price for this property is $508,500.
What are key features of this property?
This property features: Approximately 1,130 SF of office space; First‑floor office condominium; Building constructed in 2005
