Ground-Floor Corner Office
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1122 E Lincoln Ave Unit 116-117, Orange, CA 92865
Office condominium with OP zoning and a street-level corner position in Orange, California.
Property Size2,172 SF
Price / SF$479.97
Days on Market117
Property Features for 1122 E Lincoln Ave Unit 116-117
General Information
Standard status
Active
Size
2,172 SF
Property subtype
Office
Zoning
OP (Office-Professional)
Investment Type
Owner/User
Additional Details
Floor
Ground Floor
Asking Price
$1,042,500
Listing Agency:
CBRE - Orange County
(949) 413-5234
Listed By:
Taylor Friend · License #CA 01885394
Source:
Crexi
Added: May 6
Changed: Aug 30
Last Checked: Aug 30 at 8:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Orange County
Investment Insights
Based on property information with market context.
This office condominium contains 2,172 square feet across Units 116-117 at 1122 E Lincoln Ave in Orange, California. Positioned on the ground floor and at a corner, the space is configured for office occupancy and is classified under OP (Office-Professional) zoning.
The property is offered for ownership rather than lease, providing a dedicated office setting for professional services, including medical, dental, financial, legal, and related office uses identified for the space.
The property is offered for ownership rather than lease, providing a dedicated office setting for professional services, including medical, dental, financial, legal, and related office uses identified for the space.
Key Highlights
- 2,172 SF office condominium
- Ground‑floor corner position
- OP (Office‑Professional) zoning
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
$40,136
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
3.85%
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%
$802,720
$802.7K
Cap Rate 7%
$573,371
$573.4K
Cap Rate 9%
$445,956
$446.0K
Market Conditions
NOI Build-Up for 2,172 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
$61.5K $28.32/SF
− Vacancy
−$8.0K −$3.68/SF
EGI
$53.5K $24.64/SF
− OpEx
−$13.4K −$6.16/SF
NOI
$40.1K $18.48/SF
Area
Orange, CA
Vacancy
13.00%
Lease Rate
$28.32 /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%
$802,720
Cap Rate 7%
$573,371
Cap Rate 9%
$445,956
Alternative Uses
Best Use
Office B
$573.4K
$501.7K – $668.9K
NOI $40,136 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$785.2K
$687.1K – $916.1K
NOI $54,966 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 92865, CA
20,859
Population
7,188
Households
2.9
Avg Household Size
37
Median Age
40%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
5,489
Density / Sq Mi
$130,258
Median Household Income
$54,484
Median Earnings
$2,343
Median Rent
$842,700
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 - Office condominium with OP zoning and a street-level corner position in Orange, California.
Where is this office units located?
The property is located at 1122 E Lincoln Ave Unit 116-117 Orange, CA.
What is the asking price?
The asking price for this property is $1,042,500.
What are key features of this property?
This property features: 2,172 SF office condominium; Ground‑floor corner position; OP (Office‑Professional) zoning
