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

    615 E Chapman Ave Orange, CA 92866

    Sponsored
    For Sale
    $4,100,000

    Commercial Sale - Orange, CA

    Property size:
    3,000 SF
    Days on Market:
    2
    Last Refresh:
    Feb 18 at 9:06 am

    Property Features for 615 E Chapman Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    38607208
    Interior features
    Elevators
    Accessibility
    Accessible Elevator Installed
    Size
    3,000 SF

    Utilities

    Cooling system
    Central Air, Zoned

    Building Details

    Year built
    1914
    Architectural style
    Other

    We can help!

    Listing Contact
    Mollie Mitchiner

    House of Seven Gables Real Estate Inc. (714) 731-3777

    Listing agent Mollie Mitchiner (714) 731-3777 License #01844533

    Listing date Feb 17, 2026

    MLS# PW26027809 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

    Medical/Professional Office Near Old Towne

    This Craftsman-style office building, totaling approximately 3000 square feet, is located near Old Towne Orange. The two-story building includes an elevator and stairs. Remodeled around 2014-2016, the building features a new HVAC system, insulation, plumbing, and electrical systems. An elevator enhances accessibility. Outdoor lighting, rain barrels, landscaping, and a custom water fountain are also present. The first floor includes a spacious lobby with a reception desk, a conference room enclosed by beveled glass walls, four exam rooms, an in-take room, a laboratory, a private office, and an IV room suitable for surgical use. Two bathrooms feature glass tile accents and quartz countertops. The finished basement provides storage space. The second floor includes one bathroom, five exam rooms, a nurse's work station, a surgery room with storage cabinets, a laboratory with countertop space, and a private office that opens to the deck. There are 11 parking spots. The property is suited for a medical or dental practice, as well as other professional office uses. The building is located on a high-traffic street and is close to freeways. The property is a few miles from CHOC and St. Joe's Hospital. The property is on the MILLS ACT contract.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Helen Pensanti MD Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    Bird Clinic, Vet4HealthyPet, Crystal Silveira - Vet4HealthyPet, Jae Yoo - Vet4HealthyPet, Roy Kraemer

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Orange
    State
    California
    Longitude
    -117.847232
    Latitude
    33.788161

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    FAQs

    What type of property is this?
    Medical office - Craftsman-style office building near Old Towne Orange with modern amenities.
    Where is this medical office located?
    The property is located at 615 E Chapman Ave Orange, CA.
    What is the asking price?
    The asking price for this property is $4,100,000.
    What are key features of this property?
    This property features: - Mills Act contract provides significant property tax savings.; - Fully remodeled in 2014-2016 with new HVAC, insulation, plumbing, and electrical systems.; - Equipped with **11 exam rooms, surgery room, labs, and multiple offices** suitable for medical or professional use.
    (714) 321-6241
    Request Owner's contact information
    615 E Chapman Ave Orange, CA 92866
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    Orange, CA 92866
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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
    615 E Chapman Ave Orange, CA 92866
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    We can help!
    Listing Contact
    Mollie Mitchiner
    Real Estate License ID: 01844533
    (714) 321-6241 (714) 731-3777
    Learn more
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