17332 Irvine Blvd - Medical FOR SALE


Tustin, CA 92780
$5,995,000 USD
949-576-2751
17332 Irvine Blvd, Tustin, CA for Sale
$5,995,000 USD
Medical - FOR SALE
1/9
null | 4.74% Cap Rate

17332 Irvine Blvd
Tustin, CA 92780


HIGHLIGHTS

  • 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.
  • The building’s suites average just 783 sf. In small suites (especially under 1,000 sf), it is traditionally much easier to increase rents.
  • Restaurants and amenities are within the immediate vicinity of this building as can be seen on the amenities map.
  • Priced to sell, the asking price is well below recent sale comps and replacement cost.

OVERVIEW

Two-story ±24,287-square-foot, elevator-served office building built in 1973 on an approximate 1.0-acre parcel with no association. 8.13% proforma cap rate. The building is 95% occupied with two small vacant suites totaling 1,236 square feet. Most tenants are on Modified Gross terms, paying base rent and a CAM charge that contributes to the cost of the landlord-supplied utilities, janitorial, and maintenance.

FOR SALE DETAILS

PRICE

$5,995,000 USD

PRICE/SF

$247 USD /SF

CAP RATE

4.74%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Modjeska Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

PR

APN/PARCEL ID

401-512-01

ASK ABOUT THIS PROPERTY

Geoffrey DeWolfEconomos DeWolf, Inc.More Info
949-576-2751

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Geoffrey DeWolfEconomos DeWolf, Inc.More Info
949-576-2751

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.