Fully Leased Strip
New
For Sale
Contact for pricing
1208-1226 E McFadden Ave, Santa Ana, CA 92705
Everyday-needs businesses occupy the center in a dense Orange County trade area.
Property Size18,350 SF
Price / SF$497.82
Days on Market5
Property Features for 1208-1226 E McFadden Ave
General Information
Standard status
Active
Size
18,350 SF
Property subtype
Retail
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
JLL - Irvine (Orange County), California
Listed By:
Daniel Tyner · License #CA 01959818
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:48PM
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 JLL - Irvine (Orange County), California
Investment Insights
Based on property information with market context.
The 18,350-square-foot strip center at 1208-1226 E McFadden Ave in Santa Ana is fully leased. Its tenant mix includes businesses serving everyday needs, and a grocer shadow-anchors the property.
The center sits just off E McFadden Ave and S Standard Ave in an Orange County infill trade area with a population exceeding 292,000.
The center sits just off E McFadden Ave and S Standard Ave in an Orange County infill trade area with a population exceeding 292,000.
Key Highlights
- 18,350‑square‑foot retail strip center
- 100% leased
- Shadow‑anchored by a grocer
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
$343,301
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
3.76%
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%
$6,866,020
$6.9M
Cap Rate 7%
$4,904,300
$4.9M
Cap Rate 9%
$3,814,456
$3.8M
Market Conditions
NOI Build-Up for 18,350 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
$528.5K $28.80/SF
− Vacancy
−$38.1K −$2.07/SF
EGI
$490.4K $26.73/SF
− OpEx
−$147.1K −$8.02/SF
NOI
$343.3K $18.71/SF
Area
ZIP 92705
Vacancy
7.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$6,866,020
Cap Rate 7%
$4,904,300
Cap Rate 9%
$3,814,456
Alternative Uses
Best Use
Retail
$4.90M
$4.29M – $5.72M
NOI $343,301 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.51M
$4.83M – $6.43M
NOI $386,038 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 92705, CA
45,902
Population
16,642
Households
2.8
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
11.8 sq mi
ZIP Area
3,890
Density / Sq Mi
$125,928
Median Household Income
$51,830
Median Earnings
$2,250
Median Rent
$1,135,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Everyday-needs businesses occupy the center in a dense Orange County trade area.
Where is this strip mall located?
The property is located at 1208-1226 E McFadden Ave Santa Ana, CA.
What is the asking price?
The asking price for this property is $9,135,000.
What are key features of this property?
This property features: 18,350‑square‑foot retail strip center; 100% leased; Shadow‑anchored by a grocer
