Highway Frontage Light Industrial
For Sale
$640,000
C1-120 N Pacific St, San Marcos, CA 92069
1,600 SF light industrial condo with highway visibility.
Property Size1,600 SF
Price / SF$400
Days on Market110
Property Features for C1-120 N Pacific St
General Information
Standard status
Active
Size
1,600 SF
Listing Agency:
Century 21 Masters
(760) 805-3003
Listed By:
Zohra Emery · License #02029069
(760) 805-3003
Source:
Exprealty
Added: May 12
Changed: Aug 21
Last Checked: Aug 28 at 1:26PM
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 Century 21 Masters
Investment Insights
Based on property information with market context.
This 1,600 SF light industrial condo offers frontage on Highway 78 with visibility to approximately 163,000 cars daily. Located in the San Marcos Industrial Corridor, this single-story unit is suited for an owner-user. The interior features a front showroom, two private offices, and a workshop, along with a new rear roll-up door. The space has been refreshed with new paint and a remodeled restroom. It is fully HVAC-conditioned with 12–14’ clear heights and a 90% drop T-bar ceiling. Existing wiring is in place for highway-facing signage. The property is located in a secure, gated business park with access to the 78, 5, and 15 freeways. The $498 per month HOA fee covers water, trash, exterior maintenance, landscaping, and security. This property is a commercial real estate, flex space, industrial property, showroom, retail space, warehouse.
Key Highlights
- Prime Hwy 78 Frontage with high visibility to ±163,000 cars daily.
- Located in the established San Marcos Industrial Corridor.
- Functional layout with showroom, two offices, spacious workshop, and new roll‑up door.
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
$32,980
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
5.15%
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%
$659,600
$659.6K
Cap Rate 7%
$471,143
$471.1K
Cap Rate 9%
$366,444
$366.4K
Market Conditions
NOI Build-Up for 1,600 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
$59.1K $36.96/SF
− Vacancy
−$8.4K −$5.25/SF
EGI
$50.7K $31.71/SF
− OpEx
−$17.8K −$11.10/SF
NOI
$33.0K $20.61/SF
Area
San Diego County, CA
Vacancy
14.20%
Lease Rate
$36.96 /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%
$659,600
Cap Rate 7%
$471,143
Cap Rate 9%
$366,444
Alternative Uses
Best Use
Flex RnD
$471.1K
$412.3K – $549.7K
NOI $32,980 @ 7.0% cap · market cap 5.15%
Second Best
Industrial
$261.5K
$228.8K – $305.1K
NOI $18,305 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$733.1K
$641.4K – $855.3K
NOI $51,315 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92069, CA
49,407
Population
15,687
Households
3.1
Avg Household Size
34
Median Age
35%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
2,671
Density / Sq Mi
$93,065
Median Household Income
$41,634
Median Earnings
$2,078
Median Rent
$714,700
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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- Muqaddas Catering — 980 Los Vallecitos Blvd b, San Marcos, CA 92069
Frequently Asked Questions
What type of property is this?
Flex space - 1,600 SF light industrial condo with highway visibility.
Where is this flex space located?
The property is located at C1-120 N Pacific St San Marcos, CA.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Prime Hwy 78 Frontage with high visibility to ±163,000 cars daily.; Located in the established San Marcos Industrial Corridor.; Functional layout with showroom, two offices, spacious workshop, and new roll‑up door.
