Warehouse Campus with Secured
For Sale
Contact for pricing
922-926 S Lyon St, Santa Ana, CA 92705
Two-building industrial campus on 2.66 acres with a large 7-inch concrete secured yard for outdoor storage.
Property Size115,895 SF
Lot Size2.66 Acres
Price / SF$150
Days on Market437
Property Features for 922-926 S Lyon St
General Information
Standard status
Active
Size
115,895 SF
Lot size
2.66 Acres
Property subtype
LAND
Additional Details
Fenced Yard
Yes
Amenities
concrete secured yard
Listing Agency:
JLL
(949) 885-2900
Listed By:
Nick Carey · License #1456650
(949) 499-9049
Source:
Moodyscre
Added: Jul 10, 2025
Changed: Sep 16
Last Checked: Sep 19 at 6:24AM
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 JLL
Investment Insights
Based on property information with market context.
This warehouse campus includes two buildings totaling 29,490 SF on 2.66 acres. The property is highlighted by a large 7-inch concrete secured yard designed to support outdoor storage opportunities, subject to verification. Public remarks also note a $5M+ renovation.
The offering is located at 922-926 S Lyon St in Santa Ana, CA 92705. The outdoor storage potential is described with examples such as approximately 74 containers or 154 vans, to be verified.
As presented, the combination of two warehouse buildings and the secured concrete yard provides a functional industrial layout suited to operations needing both enclosed space and exterior staging or storage.
The offering is located at 922-926 S Lyon St in Santa Ana, CA 92705. The outdoor storage potential is described with examples such as approximately 74 containers or 154 vans, to be verified.
As presented, the combination of two warehouse buildings and the secured concrete yard provides a functional industrial layout suited to operations needing both enclosed space and exterior staging or storage.
Key Highlights
- Two‑building industrial campus on 2.66 acres
- Includes 2 buildings totaling 29,490 SF
- Large 7‑inch concrete secured yard for outdoor storage
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
$1,498,400
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
8.62%
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%
$29,968,000
$30.0M
Cap Rate 7%
$21,405,714
$21.4M
Cap Rate 9%
$16,648,889
$16.6M
Market Conditions
NOI Build-Up for 115,895 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
$2.24M $19.32/SF
− Vacancy
−$98.5K −$0.85/SF
EGI
$2.14M $18.47/SF
− OpEx
−$642.2K −$5.54/SF
NOI
$1.50M $12.93/SF
Area
ZIP 92705
Vacancy
4.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
30.00%
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%
$29,968,000
Cap Rate 7%
$21,405,714
Cap Rate 9%
$16,648,889
Alternative Uses
Best Use
Warehouse
$25.99M
$22.74M – $30.32M
NOI $1,819,486 @ 7.0% cap · market cap 10.47%
Second Best
Industrial
$21.41M
$18.73M – $24.97M
NOI $1,498,400 @ 7.0% cap · market cap 8.62%
Theoretical Best
Specialty Retail
$34.83M
$30.48M – $40.64M
NOI $2,438,141 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92705, CA
45,902
Population
16,642
Households
2.8
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
11.8 sq mi
ZIP Area
3,890
Density / Sq Mi
$125,928
Median Household Income
$51,830
Median Earnings
$2,250
Median Rent
$1,135,600
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.
Similar Off Market Nearby
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- Ftg Warehouse — 1601 S Grand Ave, Santa Ana, CA 92705
- ARCHIVE Contents Restoration of OC — 1960 E McFadden Ave, Santa Ana, CA 92705
- Public Storage — 2200 E McFadden Ave, Santa Ana, CA 92705
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building industrial campus on 2.66 acres with a large 7-inch concrete secured yard for outdoor storage.
Where is this warehouse located?
The property is located at 922-926 S Lyon St Santa Ana, CA.
What is the asking price?
The asking price for this property is $17,384,250.
What are key features of this property?
This property features: Two‑building industrial campus on 2.66 acres; Includes 2 buildings totaling 29,490 SF; Large 7‑inch concrete secured yard for outdoor storage
