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    The Largest CRE Database in the US with Over 1 Million Listings

    113 Waterworks Way Irvine, CA 92618

    Sponsored
    For Sale
    $2,968,000

    Commercial Sale - Irvine, CA

    Property size:
    63,000 SF
    Days on Market:
    3
    Last Refresh:
    Feb 25 at 10:06 am

    Property Features for 113 Waterworks Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    93535834
    Size
    63,000 SF

    Building Details

    Year built
    2008
    Architectural style
    Other

    We can help!

    Listing Contact
    Mina Abdelmalek

    Abba Commercial Real Estate Services (949) 419-6860

    Listing agent Mina Abdelmalek (949) 419-6860 License #01440906

    Listing date Feb 23, 2026

    MLS# OC26040158 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Corner Medical Office Clinic in Irvine

    This 2,157-square-foot medical office suite is located on a prime corner within a professional medical complex. Formerly operated as a GI endoscopy center, the suite offers visibility, natural light, and a functional clinical layout. It features one large procedural room designed to accommodate endoscopic or minor surgical procedures, with space for equipment, support staff, and patient preparation. The layout supports workflow from reception to consultation to procedure and recovery, making it suitable for gastroenterology, pain management, surgical specialties, outpatient procedures, or conversion to a multi-room clinical practice. The corner positioning enhances patient accessibility and brand presence while providing natural light throughout the space. The existing infrastructure includes medical-grade finishes and plumbing capacity. The suite also includes a welcoming reception area, private offices/consult rooms, support areas, storage, and dedicated clinical space. Located within a well-established medical corridor, the property benefits from co-tenancy, convenient parking, and proximity to hospitals, pharmacies, and major transportation routes. The property is located in Irvine, CA, with a total property size of 63000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Total Care Implant ... Dental Office Nooshin Ghayoumi DDS Dental Office Media Najafi, DDS Dental Office Timothy Chao, D.D.S Dental Office Irvine Centum Dental ... Dental Office

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Dental Office Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Veterinary Clinic, Veterinary Hospital, Lily Veterinarian, Irvine Valley Veterinary Hospital, Oak Creek Pet Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Irvine
    County
    Orange
    State
    California
    Longitude
    -117.762546
    Latitude
    33.663902

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    FAQs

    What type of property is this?
    Medical office - Fully built-out medical office suite in a prime location.
    Where is this medical office located?
    The property is located at 113 Waterworks Way Irvine, CA.
    What is the asking price?
    The asking price for this property is $2,968,000.
    What are key features of this property?
    This property features: - Fully built-out medical office suite, formerly a GI endoscopy center, ready for immediate use or easy reconfiguration for various medical specialties, offering significant cost savings.; - Prime corner location within a professional medical complex providing exceptional visibility and patient accessibility.; - Features a large procedural room designed for endoscopic or minor surgical procedures, optimizing workflow and patient care.
    (714) 963-3300
    Request Owner's contact information
    113 Waterworks Way Irvine, CA 92618
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    Irvine, CA 92618
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    113 Waterworks Way Irvine, CA 92618
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    We can help!
    Listing Contact
    Mina Abdelmalek
    Real Estate License ID: 01440906
    (714) 963-3300 (949) 419-6860 (949) 201-6204
    Learn more
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