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19378 Central Rd, Apple Valley, CA 92307
Warehouses
Property Size17,600 SF
Lot Size3.36 Acres
Price / SF$272.73
Days on Market961
Property Features for 19378 Central Rd
General Information
Standard status
Active
Size
17,600 SF
Lot size
3.36 Acres
Property subtype
Industrial
Zoning
IP
Lease Type
NNN
Building Details
Year Built
1987
Year Renovated
2024
Buildings
2
Stories
1
Listing Agency:
Vintage Sotheby's International - Elite Commercial Partners
(707) 410-5399
Listed By:
Carmen Gray · License #02040799
Source:
Crexi
Added: Jan 4, 2024
Changed: Aug 22
Last Checked: Aug 22 at 6:54AM
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 Vintage Sotheby's International - Elite Commercial Partners
Investment Insights
Based on property information with market context.
Key Highlights
- 17,600± SF warehouse space across two free‑standing buildings on 3.36 acres in Apple Valley.
- Scheduled renovations and City‑required upgrades for completion by 2026.
- Zoned Planned Industrial (IP) suitable for distribution, logistics, shop, or warehouse operations.
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
$175,499
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
3.66%
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%
$3,509,980
$3.5M
Cap Rate 7%
$2,507,129
$2.5M
Cap Rate 9%
$1,949,989
$1.9M
Market Conditions
NOI Build-Up for 17,600 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
$219.6K $12.48/SF
− Vacancy
−$13.2K −$0.75/SF
EGI
$206.5K $11.73/SF
− OpEx
−$31.0K −$1.76/SF
NOI
$175.5K $9.97/SF
Area
San Bernardino County, CA
Vacancy
6.00%
Lease Rate
$12.48 /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%
$3,509,980
Cap Rate 7%
$2,507,129
Cap Rate 9%
$1,949,989
Alternative Uses
Best Use
Warehouse
$2.51M
$2.19M – $2.92M
NOI $175,499 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.71M
$3.25M – $4.33M
NOI $259,872 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
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.
Frequently Asked Questions
Where is this warehouse located?
The property is located at 19378 Central Rd Apple Valley, CA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 17,600± SF warehouse space across two free‑standing buildings on 3.36 acres in Apple Valley.; Scheduled renovations and City‑required upgrades for completion by 2026.; Zoned Planned Industrial (IP) suitable for distribution, logistics, shop, or warehouse operations.
