Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    940 W Chapman Ave Orange, CA 92868

    Sponsored
    For Lease
    $2,500 /Mo ($1.50 SF/Yr)

    Commercial Lease - Orange, CA

    Property size:
    20,000 SF
    Days on Market:
    2
    Last Refresh:
    Feb 3 at 6:06 am

    Property Features for 940 W Chapman Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C-2
    APN
    04104201
    Size
    20,000 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1929
    Architectural style
    Other

    We can help!

    Listing Contact
    AJ Ricci

    Ricci Realty (714) 633-3600

    Listing agent AJ Ricci (714) 633-3600 License #01985308

    Listing date Feb 2, 2026

    MLS# PW26023816 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

    Historic Building Retail/Office Space

    Located in the "Citrus Building", this historic property offers space suitable for startups, brick and mortar businesses, satellite offices, retail spaces, and fitness uses. Suite 101, a ground-level space, features a large picture window facing West Chapman Avenue, providing street frontage and visibility to westbound traffic. The building provides 22 parking spaces shared among tenants. The suite includes high drop ceilings with upgraded LED recessed lighting and restored hardwood flooring. Located off the front lobby area, the suite benefits from foot traffic. Dedicated male and female restrooms are located down the hall from the space. The property is located in Orange, CA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conquest Seal Corporation Corporate Office Guitar Collector (Bike/Boat/Book/etc) Store Neaumix Fit Orange Gym & Fitness Center 5Rhythms with Jenelle Gym & Fitness Center Haunted Orange County ... Tour Operator

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Orange
    State
    California
    Longitude
    -117.862628
    Latitude
    33.787589

    Nearby Similar for Lease

    • $4,500 /Mo
      2,692 SF

      Orange, CA Commercial Lease Opportunity

      Classic building near the Plaza, suitable for medical or office use.
      601 E Chapman Ave, Orange, CA 92866
      View Details
    • New
      $3,000 /Mo
      20,000 SF

      Historic Citrus Building Retail Space

      Unique retail or office space in historic Orange building.
      940 W Chapman Ave, Orange, CA 92868
      View Details
    • $10,000 /Mo
      150,161 SF

      Modern Office Space in Orange

      Well-designed office space with flexible workspace, move-in ready.
      625 The City Dr S, Orange, CA 92868
      View Details
    • Contact for pricing
      3,602 SF

      Office Space in Orange, CA

      Office space for lease in Orange, near major freeways.
      1745 W Orangewood Ave, Orange, CA 92868
      View Details
    • $2,913 /Mo
      971 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $4,596 /Mo
      1,532 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $6,102 /Mo
      2,034 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $3,108 /Mo
      1,036 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $7,146 /Mo
      2,382 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $3,030 /Mo
      1,010 SF

      Retail Space in Orange, CA

      Prime retail space with excellent visibility and high traffic.
      840 The City Dr S, Orange, CA 92868
      View Details
    • $14,000 /Mo
      4,368 SF

      Freestanding Restaurant in Orange, CA

      4,368 SF restaurant space with high visibility and ample parking.
      220 E Katella Ave, Orange, CA 92867
      View Details
    • $1,990 /Mo

      Updated Condo Near Chapman University

      One bedroom, one bathroom condo with updated kitchen and community amenities.
      700 W La Veta Ave, Orange, CA 92868
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime retail/office space in historic "Citrus Building" in Orange, CA.
    Where is this retail space located?
    The property is located at 940 W Chapman Ave Orange, CA.
    What is the lease rate?
    The lease rate is $1.50 SF/Yr.
    What are key features of this property?
    This property features: - High visibility location on West Chapman Ave with prominent street frontage.; - Ground-level suite with large picture window, ideal for attracting attention.; - Restored hardwood flooring and upgraded LED lighting create a bright, appealing space.
    (714) 633-3600
    Request Owner's contact information
    940 W Chapman Ave Orange, CA 92868
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    940 W Chapman Ave
    Orange, CA 92868
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    940 W Chapman Ave Orange, CA 92868
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    AJ Ricci
    Real Estate License ID: 01985308
    (714) 633-3600
    Learn more
    Google sign-in failed. Please try again or use another login method.