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$ 5,995,000
Est. payment | /mo
1 Acres Lot
$ 5,995,000
Est. payment | /mo
1 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24376525
HOA Y/N No
Year Built 1973
Lot Size 1.000 Acres
Property Description
17332 Irvine Blvd, Tustin, CA 92780. Two-story 24,287-square-foot, elevator-served office building built in 1973 on an approximate 1.0-acre parcel with no association. The building is 95% occupied with two small vacant suites totaling 1,236 square feet. Premier office building with welcoming two-story lobby just east of the 55 Freeway on the corner of Irvine Blvd and Yorba St. Current occupancy is 95% which is typical as this building has historically enjoyed very high occupancy. With small suites and staggered lease terms, this asset should continue to provide reliable, solid income. Current rents are well below market. Market rents will generate a proforma cap rate over 8.0% (see Page 18). This should be very achievable given the high current occupancy and small tenant sizes.
Location
State CA
County Orange
Area 71 - Tustin
Interior
Fireplace No
Exterior
Total Parking Spaces 75
Building
Story 2
Others
Tax ID 40151201
Special Listing Condition Standard
Listed by Geoffrey Dewolf • Economos Dewolf, Inc.