New Construction Flex/Industrial
For Sale
Contact for pricing
37361 Industry Wy, Murrieta, CA 92563
New construction flex/industrial building completed in February 2023.
Property Size6,508 SF
Price / SF$316.25
Days on Market1425
Property Features for 37361 Industry Wy
General Information
Standard status
Active
Size
6,508 SF
Total Parking Spaces
15
Property subtype
Office, Industrial
Lease Type
Gross
Building Details
Year Built
2023
Buildings
19
Listing Agency:
Lee & Associates - Temecula Valley
(951) 445-4507
Listed By:
Charley Black · License #CA#01000597
Source:
Crexi
Added: Oct 5, 2022
Changed: Aug 14
Last Checked: Aug 29 at 5:41PM
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 - Temecula Valley
Investment Insights
Based on property information with market context.
This new construction, high-quality, and energy-efficient building, completed in February 2023, is located within the French Valley Airport Center Phase III. The property offers 6508 square feet of flex, industrial, and office space.
Key Highlights
- New construction completed in February 2023
- High‑quality building
- Energy efficient building
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
$85,159
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
4.14%
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%
$1,703,180
$1.7M
Cap Rate 7%
$1,216,557
$1.2M
Cap Rate 9%
$946,211
$946.2K
Market Conditions
NOI Build-Up for 6,508 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
$140.6K $21.60/SF
− Vacancy
−$9.6K −$1.47/SF
EGI
$131.0K $20.13/SF
− OpEx
−$45.9K −$7.05/SF
NOI
$85.2K $13.09/SF
Area
Murrieta, CA
Vacancy
6.80%
Lease Rate
$21.60 /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%
$1,703,180
Cap Rate 7%
$1,216,557
Cap Rate 9%
$946,211
Alternative Uses
Best Use
Flex RnD
$1.22M
$1.06M – $1.42M
NOI $85,159 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$877.2K
$767.5K – $1.02M
NOI $61,402 @ 7.0% cap · market cap 2.98%
Theoretical Best
Specialty Retail
$2.06M
$1.80M – $2.40M
NOI $143,911 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92563, CA
73,224
Population
24,020
Households
3
Avg Household Size
35
Median Age
33%
College-Educated
93%
High-School Grad
22.6 sq mi
ZIP Area
3,240
Density / Sq Mi
$118,519
Median Household Income
$51,772
Median Earnings
$2,588
Median Rent
$615,700
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 - New construction flex/industrial building completed in February 2023.
Where is this flex space located?
The property is located at 37361 Industry Wy Murrieta, CA.
What is the asking price?
The asking price for this property is $2,058,155.
What are key features of this property?
This property features: New construction completed in February 2023; High‑quality building; Energy efficient building
