Two-Story Office Units
For Sale
$289,000
29135 Hook Creek, Cedar Glen, CA 92321
COMMERCIAL - Cedar Glen, CA
Property Size816 SF
Lot Size0.07 Acres
Price / SF$354.17
Days on Market111
Property Features for 29135 Hook Creek
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bonus Room
Parking
1
Subdivision
Cedar Glen (CEDG)
Lot features
Corner Lot, 0-1 Unit/ Acre
Elementary school district
Rim of the World
Middle school district
Rim of the World
High school district
Rim of the World
Directions
ma
Standard status
Active
APN
0331132010000
Size
816 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
1
Listing Agency:
Hamilton Landon Real Estate · Real Living
(760) 242-8157
Listed By:
Fran Enyart · License #01061550
(760) 242-8157
Added: Apr 22
Changed: Aug 4
Last Checked: Aug 10 at 9:06PM
MLS# HD26096596
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.
Investment Insights
Based on property information with market context.
This two-story office units building offers a large open office/meeting area designed for groups, plus a half bathroom. A front entrance provides handicap access, and there is also a private room that could be used for functions such as an office or an overnight sleeping room. The property includes newer windows and a newer heater.
Access to the upper level is supported by a private stairway and private entry on the north side of the building. The upstairs includes a kitchenette that is described as large enough for a break room and more.
Additional space includes a large one-car garage/storage area with a combination lock, suitable for office supplies, large equipment, or off-road toys. The property is served by public water and public sewer. Built in 1930, the parcel size is 0.0681 acres, and the building size is 816 square feet at 29135 Hook Creek, Cedar Glen, CA 92321.
Access to the upper level is supported by a private stairway and private entry on the north side of the building. The upstairs includes a kitchenette that is described as large enough for a break room and more.
Additional space includes a large one-car garage/storage area with a combination lock, suitable for office supplies, large equipment, or off-road toys. The property is served by public water and public sewer. Built in 1930, the parcel size is 0.0681 acres, and the building size is 816 square feet at 29135 Hook Creek, Cedar Glen, CA 92321.
Key Highlights
- 816 SF two‑story office units building
- 0.0681‑acre parcel
- Huge open office/meeting area plus a half bathroom
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
$16,046
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
5.55%
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%
$320,920
$320.9K
Cap Rate 7%
$229,229
$229.2K
Cap Rate 9%
$178,289
$178.3K
Market Conditions
NOI Build-Up for 816 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
$24.4K $29.88/SF
− Vacancy
−$3.0K −$3.66/SF
EGI
$21.4K $26.22/SF
− OpEx
−$5.3K −$6.55/SF
NOI
$16.0K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /SF/Yr
Expense Ratio
25.00%
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%
$320,920
Cap Rate 7%
$229,229
Cap Rate 9%
$178,289
Alternative Uses
Best Use
Office B
$229.2K
$200.6K – $267.4K
NOI $16,046 @ 7.0% cap · market cap 5.55%
Second Best
Flex RnD
$212.1K
$185.6K – $247.5K
NOI $14,847 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$274.1K
$239.8K – $319.8K
NOI $19,185 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 92321, CA
1,310
Population
1,195
Households
1.1
Avg Household Size
46
Median Age
28%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
185
Density / Sq Mi
$50,893
Median Household Income
$40,592
Median Earnings
$948
Median Rent
$480,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-story office units building with a handicap-accessible front entrance, open office/meeting area, and one-car garage/storage.
Where is this office units located?
The property is located at 29135 Hook Creek Cedar Glen, CA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 816 SF two‑story office units building; 0.0681‑acre parcel; Huge open office/meeting area plus a half bathroom
