Multi-Unit Industrial Flex
For Sale
Contact for pricing
620 West 16th St, Long Beach, CA 90813
Flex industrial park offers six units with a 50/50 office and warehouse layout and current occupancy in four units.
Property Size13,245 SF
Price / SF$245
Days on Market52
Property Features for 620 West 16th St
General Information
Standard status
Active
Size
13,245 SF
Total Parking Spaces
34
Property subtype
Industrial
Occupancy
52%
Building Details
Units
6
Tenancy
Multi
Listing Agency:
Lee & Associates - Long Beach
Listed By:
Gavin Gill · License #CA 01936303
(562) 243-4734
Source:
Crexi
Added: Jul 15
Changed: Aug 23
Last Checked: Sep 2 at 4:43AM
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 - Long Beach
Investment Insights
Based on property information with market context.
Westside Business Park is an industrial flex property being offered for sale by the original builder/developer. The building totals approximately 13,245 square feet of rentable space and is configured as six separate units. Four of the units are currently leased, with Units E and F representing approximately half of the building available for lease.
The park combines office and warehouse space on a roughly balanced basis, with the building described as 50% office space and 50% warehouse. The office portion includes “modern amenities,” while the warehouse portion is intended to support storage, production, or distribution. The asset is presented as having a track record of long-term tenants and consistent occupancy.
For buyers considering either tenancy or owner-user use, the multi-tenant layout provides administrative and operational space within the same industrial property framework.
The park combines office and warehouse space on a roughly balanced basis, with the building described as 50% office space and 50% warehouse. The office portion includes “modern amenities,” while the warehouse portion is intended to support storage, production, or distribution. The asset is presented as having a track record of long-term tenants and consistent occupancy.
For buyers considering either tenancy or owner-user use, the multi-tenant layout provides administrative and operational space within the same industrial property framework.
Key Highlights
- Westside Business Park includes approximately 13,245 rentable SF across six industrial units
- Current occupancy: four of six units are leased (Units E & F are approximately 50% of the building available for lease)
- Balanced 50% office and 50% warehouse layout for combined administrative and operational space
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
$209,711
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
6.46%
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%
$4,194,220
$4.2M
Cap Rate 7%
$2,995,871
$3.0M
Cap Rate 9%
$2,330,122
$2.3M
Market Conditions
NOI Build-Up for 13,245 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
$360.8K $27.24/SF
− Vacancy
−$81.2K −$6.13/SF
EGI
$279.6K $21.11/SF
− OpEx
−$69.9K −$5.28/SF
NOI
$209.7K $15.83/SF
Area
ZIP 90813
Vacancy
22.50%
Lease Rate
$27.24 /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%
$4,194,220
Cap Rate 7%
$2,995,871
Cap Rate 9%
$2,330,122
Alternative Uses
Best Use
Office B
$3.00M
$2.62M – $3.50M
NOI $209,711 @ 7.0% cap · market cap 6.46%
Second Best
Warehouse
$2.68M
$2.35M – $3.13M
NOI $187,950 @ 7.0% cap · market cap 5.79%
Theoretical Best
Multifamily LT 5
$4.35M
$3.81M – $5.07M
NOI $304,434 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,076
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90813, CA
54,565
Population
18,603
Households
2.9
Avg Household Size
32
Median Age
16%
College-Educated
63%
High-School Grad
3.1 sq mi
ZIP Area
17,602
Density / Sq Mi
$50,302
Median Household Income
$31,450
Median Earnings
$1,578
Median Rent
$543,700
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?
Flex space - Flex industrial park offers six units with a 50/50 office and warehouse layout and current occupancy in four units.
Where is this flex space located?
The property is located at 620 West 16th St Long Beach, CA.
What is the asking price?
The asking price for this property is $3,245,025.
What are key features of this property?
This property features: Westside Business Park includes approximately 13,245 rentable SF across six industrial units; Current occupancy: four of six units are leased (Units E & F are approximately 50% of the building available for lease); Balanced 50% office and 50% warehouse layout for combined administrative and operational space
