Flex Warehouse with Secured
For Sale
Contact for pricing
638 Poinsettia St N, Santa Ana, CA 92701
Free-standing flex facility includes office space, three ground-level loading doors, and an 18' minimum clear height.
Property Size9,769 SF
Price / SF$360
Days on Market186
Property Features for 638 Poinsettia St N
General Information
Standard status
Active
Size
9,769 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
3
Listing Agency:
Voit Real Estate Services
(714) 978-7880
Listed By:
Ryan Moore · License #01821438
(909) 545-8011
Source:
Moodyscre
Added: Mar 4
Changed: Aug 26
Last Checked: Aug 14 at 7:43AM
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 Voit Real Estate Services
Investment Insights
Based on property information with market context.
This free-standing flex warehouse includes approximately 1,300 SF of office space (verification recommended), with an 18' minimum clear height. The building is served by three ground-level loading doors measuring 12' x 14'. A secured yard provides additional functional outdoor area for storage or staging.
The property is described as having excellent access to the 5 and 55 freeways, supporting convenient regional connectivity.
Overall, it presents a warehouse-and-office configuration with straightforward loading access and a secured yard setting.
The property is described as having excellent access to the 5 and 55 freeways, supporting convenient regional connectivity.
Overall, it presents a warehouse-and-office configuration with straightforward loading access and a secured yard setting.
Key Highlights
- Free‑standing flex building with 1,300 SF of office space (verify)
- 18' minimum clear height
- 3 ground‑level loading doors (12' x 14')
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
$153,368
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
4.36%
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%
$3,067,360
$3.1M
Cap Rate 7%
$2,190,971
$2.2M
Cap Rate 9%
$1,704,089
$1.7M
Market Conditions
NOI Build-Up for 9,769 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
$188.7K $19.32/SF
− Vacancy
−$8.3K −$0.85/SF
EGI
$180.4K $18.47/SF
− OpEx
−$27.1K −$2.77/SF
NOI
$153.4K $15.70/SF
Area
ZIP 92701
Vacancy
4.40%
Lease Rate
$19.32 /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%
$3,067,360
Cap Rate 7%
$2,190,971
Cap Rate 9%
$1,704,089
Alternative Uses
Best Use
Warehouse
$2.19M
$1.92M – $2.56M
NOI $153,368 @ 7.0% cap · market cap 4.36%
Second Best
Flex RnD
$1.81M
$1.58M – $2.11M
NOI $126,680 @ 7.0% cap · market cap 3.60%
Theoretical Best
Multifamily LT 5
$3.02M
$2.64M – $3.53M
NOI $211,591 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,609
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92701, CA
48,789
Population
13,470
Households
3.6
Avg Household Size
32
Median Age
11%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
15,247
Density / Sq Mi
$68,697
Median Household Income
$33,846
Median Earnings
$1,650
Median Rent
$608,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Free-standing flex facility includes office space, three ground-level loading doors, and an 18' minimum clear height.
Where is this flex space located?
The property is located at 638 Poinsettia St N Santa Ana, CA.
What is the asking price?
The asking price for this property is $3,516,840.
What are key features of this property?
This property features: Free‑standing flex building with 1,300 SF of office space (verify); 18' minimum clear height; 3 ground‑level loading doors (12' x 14')
