Carlsbad Freestanding Industrial
For Sale
Contact for pricing
5931 Darwin Court, Carlsbad, CA 92008
31,200 SF industrial building with office and warehouse space.
Property Size31,200 SF
Lot Size2.16 Acres
Price / SF$294.87
Days on Market191
Property Features for 5931 Darwin Court
General Information
Standard status
Active
Size
31,200 SF
Lot size
2.16 Acres
Property subtype
Office, Retail, Industrial
Zoning
C-M
Building Details
Year Built
1998
Buildings
1
Units
1
Listing Agency:
Pacific Coast Commercial
(619) 666-4600
Listed By:
Ken Robak · License #CA 01236527
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 Pacific Coast Commercial
Investment Insights
Based on property information with market context.
The property is a freestanding industrial building with a total area of approximately 31,200 square feet, situated on a parcel of about 2.16 acres. The building includes approximately 10,200 square feet of office space and approximately 21,000 square feet of warehouse space. It features one grade-level door measuring 12 feet by 16 feet and one dock well measuring 12 feet by 12 feet. The parking ratio is 3.21 spaces per 1,000 square feet. The building is equipped with heavy power, offering 800 amps at 480/277V, and a fire sprinkler system. The clear height ranges from approximately 27 to 29 feet. Interior features include a reception/lobby area, 20 private offices, multiple restrooms, multiple kitchens, and a conference room. The property is located in Carlsbad, CA.
Key Highlights
- ± 31,200 SF Freestanding Industrial Building on ± 2.16 Acre Parcel
- Heavy Power: 800 amps 480/277V
- Enjoy a Clear Height of ±27’- 29’
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
$607,427
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
6.60%
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%
$12,148,540
$12.1M
Cap Rate 7%
$8,677,529
$8.7M
Cap Rate 9%
$6,749,189
$6.7M
Market Conditions
NOI Build-Up for 31,200 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
$973.4K $31.20/SF
− Vacancy
−$38.9K −$1.25/SF
EGI
$934.5K $29.95/SF
− OpEx
−$327.1K −$10.48/SF
NOI
$607.4K $19.47/SF
Area
Carlsbad, CA
Vacancy
4.00%
Lease Rate
$31.20 /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%
$12,148,540
Cap Rate 7%
$8,677,529
Cap Rate 9%
$6,749,189
Alternative Uses
Best Use
Flex RnD
$8.68M
$7.59M – $10.12M
NOI $607,427 @ 7.0% cap · market cap 6.60%
Second Best
Warehouse
$6.71M
$5.87M – $7.83M
NOI $469,865 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$11.47M
$10.03M – $13.38M
NOI $802,594 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 31,200 SF industrial building with office and warehouse space.
Where is this flex space located?
The property is located at 5931 Darwin Court Carlsbad, CA.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: ± 31,200 SF Freestanding Industrial Building on ± 2.16 Acre Parcel; Heavy Power: 800 amps 480/277V; Enjoy a Clear Height of ±27’- 29’
