901 W Civic Center Dr - Medical FOR SALE


Santa Ana, CA 92703
$21,700,000 USD
949-419-3276
901 W Civic Center Dr, Santa Ana, CA for Sale
$21,700,000 USD
Medical - FOR SALE
1/20
null | 7.03% Cap Rate

901 W Civic Center Dr
Santa Ana, CA 92703


HIGHLIGHTS

  • Prime Location: ±95,831-square-foot, multi-tenant medical and professional office building located in the highly desirable Santa Ana
  • Fully Renovated Asset: Four-story, atrium-style office building with modern finishes and a parking structure offering direct access to all floors
  • Strong Tenant Base: 92% occupancy, featuring a diverse mix of reputable tenants including Optum Care Medical, Progress Medical, Geo Re-Entry, Regus
  • Ample Parking: Approximately 320 parking spaces, ensuring convenience for tenants and visitors.
  • Strategic Access: Situated at a signalized intersection of Civic Center Drive and Flower Street, with close proximity to major government buildings
  • Attractive Return Potential: Current CAP Rate: 7.03% Pro-Forma CAP Rate: 7.34%

OVERVIEW

Marcus & Millichap is pleased to present an exceptional investment opportunity to acquire a fully renovated, ±95,831-square-foot, multi-tenant medical and professional office building in the highly sought after Santa Ana, California market. This four-story, atrium-style office building, situated on ±1.99 acres, offers a rare combination of prime location, modern amenities, and a strong tenant base. The property includes a four-level parking structure with convenient direct access to all floors, providing approximately 320 parking spaces, making it a highly functional asset for tenants and their clients. With 18 suites and an impressive 92% occupancy rate, the building is home to a diverse mix of prominent tenants, including Optum Care Medical, Progress Medical, Geo Re-Entry, Regus Managed Offices, and others. This diverse tenant roster ensures a stable and varied income stream for investors. Strategically located at the signalized intersection of West Civic Center Drive and Flower Street, the property offers easy access to major government buildings, including the Ronald Reagan Federal Building and Courthouse, Santa Ana City Hall, the Civic Center Courthouse, Superior Justice Center, and the Orange County Sheriff’s Department— enhancing its appeal to a broad spectrum of professional and medical tenants. This property presents a compelling opportunity for investors seeking a high-quality, well-positioned asset with significant upside potential. The building offers a weighted average lease term (WALT) of 3.25 years and is priced at an attractive 7.03% capitalization rate on current rents, with pro-forma returns of 7.34% upon stabilization and filling the remaining vacancies. In addition, favorable financing options are available for qualified buyers, including a 10-year term with the first 3 years fixed and interest only payments, which translates to a strong 9.10% cash-on-cash return. For investors looking to secure a strategically located, cash-flowing medical and professional office asset with long-term value potential, this property offers an outstanding opportunity.

FOR SALE DETAILS

PRICE

$21,700,000 USD

PRICE/SF

$224 USD /SF

CAP RATE

7.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Civic Center Professional Medical

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

R&D, Storefront Retail/Office, Warehouse

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

330

LAND DETAILS

LAND ACRES

1.99 AC

LAND SF

86,684 SF

ZONING

C2

APN/PARCEL ID

405-183-12

ASK ABOUT THIS PROPERTY

Alex MobinMarcus & MillichapMore Info
949-419-3276

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Alex MobinMarcus & MillichapMore Info
949-419-3276

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