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    28 Hammond Irvine, CA 92618

    Sponsored
    For Sale
    $3,000,000

    Prime Irvine location, flexible layout, high-image finishes.

    Property size:
    8,200 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    346
    This exceptional 8,200 square foot mixed-use condominium is ideally situated within Irvine's Eastpointe Business Park. Boasting a desirable location, this property offers unparalleled convenience with immediate access to the Irvine Spectrum, and the I-5 and I-405 freeways, ensuring effortless commutes for employees and clients. The property sits on a generous 2.07-acre lot and features a high-image design and finish, creating a professional and impressive environment. The flexible layout allows for customization to suit a variety of business needs, making it perfect for owner-users seeking a space that reflects their brand and operational requirements. The building's amenities further enhance its appeal, providing a comfortable and productive workspace. A significant advantage is the ample parking, with a 7.321 parking spaces per 1,000 square feet ratio. This property presents a rare opportunity to acquire a well-appointed, strategically located mixed-use condominium in a thriving Irvine business park. The asking price is $3,000,000. Serious inquiries only.

    Property Features for 28 Hammond

    General Information

    Property type
    Mixed-use properties
    Square Feet
    8,200 SF
    Lot Size
    90,169 SF

    Building Details

    Year Built
    1992
    Location Intelligence

    Current Use by Public Records

    Maintstar Software Company Van Dijk & Associates Engineer Burke Investment Co Professional Services Sampling International Marketing Consultant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Irvine
    County
    Orange
    State
    California
    Longitude
    -117.7033
    Latitude
    33.66154

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Irvine location, flexible layout, high-image finishes.
    Where is this mixed-use property located?
    The property is located at 28 Hammond Irvine, CA.
    What is the asking price?
    The asking price for this property is $3,000,000.
    (949) 301-8888
    Request Owner's contact information
    28 Hammond 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.

    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
    28 Hammond Irvine, CA 92618
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