San Marcos Industrial and Office
737 747 777 Windy Point Drive, San Marcos, CA 92069
Fully leased industrial and office project in San Marcos, California.
Type:Office, Industrial
Property size:
34,373 SFLot size:
3.93 AcresPrice / SF:
$450/SF- Added:
- Nov 26, 2025
- Days on Market:
- 172
- Last Refresh:
- Mar 17 at 1:18 pm
Property Features for 737 747 777 Windy Point Drive
General Information
- Standard status
- Active
- Size
- 34,373 SF
- Lot size
- 3.93 Acres
- Property subtype
- Office, Industrial
Building Details
- Year Built
- 2020
Listing agent Tucker Hohenstein, SIOR License #CA 00999360
Listing office SRS Industrial
Listing date Nov 26, 2025
Source Crexi
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 SRS Industrial
HighLights
- Fully‑leased, two‑building industrial and office project providing immediate income.
- New development completed in 2020, offering 34,373 SF of space.
- Located in the heart of San Marcos, just two blocks north of Highway 78.
- High‑quality tenants currently occupy 100% of the space.
- Potential for future development: option to build a third building upon lease expiration.
- Generates $147,804 in annual parking revenue with a high parking ratio (9.20/1,000 SF).
Overview
This fully-leased industrial and office project comprises two buildings situated in San Marcos, California. Located a short distance from Highway 78, the property at 737 & 777 Windy Point Drive was completed in 2020. The development offers 34,373 square feet of space and is fully leased to high-quality tenants. Key features include creative office space, warehouse facilities, and heavy power capacity, complemented by ample parking. The property spans 3.93 acres and presents an investment opportunity. The office building has a parking ratio of 9.20 per 1,000 square feet, generating $147,804 in annual parking revenue. Upon lease expiration, options include re-leasing to a user requiring a 9.20 per 1,000 square feet parking ratio or reducing the parking to a standard market rate of 4.00 per 1,000 square feet and constructing a third building on the site, as indicated in the site plan. The property is suitable for various commercial real estate purposes.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$8.84M
NOI $795,357 @ 9.00% cap · cautious / downside scenario
Moderate
$11.36M
NOI $795,357 @ 7.00% cap · market / base-case scenario
Aggressive
$15.91M
NOI $795,357 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.24M | $36.00 |
| − Vacancy | −$177.0k | −$5.15 |
| EGI | $1.06M | $30.85 |
| − OpEx | −$265.1k | −$7.71 |
| NOI | $795.4k | $23.14 |
34,373 SF · lease $36.00/SF/yr · vacancy 14.30% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$11.36M
$9.94M – $13.26M
NOI $795,357 @ 7.0% cap · market cap 5.13%
Second Best
Flex RnD
$10.12M
$8.86M – $11.81M
NOI $708,517 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$15.75M
$13.78M – $18.37M
NOI $1,102,400 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Genesis Fitness Training
Gym & Fitness Center
MOA Fitness
Gym & Fitness Center
Process Performance
Gym & Fitness Center
Optimum Performance Physical ...
Medical Clinic
Champions Keep
Training Center
Similar Places Nearby
- Tina's Deli — 760 N Twin Oaks Valley Rd # D, San Marcos, CA 92069
Location Insight
- Map
- Local Demand
- City
- San Marcos
- County
- San Diego
- State
- California
- Longitude
- -117.1661198
- Latitude
- 33.1517362
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Fully leased industrial and office project in San Marcos, California.
Where is this flex space located?
The property is located at 737 747 777 Windy Point Drive San Marcos, CA.
What is the asking price?
The asking price for this property is $15,500,000.
What are key features of this property?
This property features: Fully‑leased, two‑building industrial and office project providing immediate income.; New development completed in 2020, offering 34,373 SF of space.; Located in the heart of San Marcos, just two blocks north of Highway 78.
