Remodeled Corner Restaurant on
For Sale
$1,175,000
Pending
1717 S Main St, Santa Ana, CA 92707
Prime corner restaurant opportunity with recent remodeling and high traffic.
Property Size3,920 SF
Lot Size0.16 Acres
Days on Market158
Property Features for 1717 S Main St
General Information
Standard status
Pending
Size
3,920 SF
Lot size
0.16 Acres
Property subtype
Commercial
Building Details
Building Size
3,920 SF
Year Built
1957
Listing Agency:
Realty World Allensworth
(562) 923-8879
Listed By:
Alejandro Salazar · License #01150962
(562) 923-8879
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 23 at 11:45AM
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 Realty World Allensworth
Investment Insights
Based on property information with market context.
This corner property on Main Street benefits from heavy traffic and a location across from a shopping center. The restaurant was recently remodeled with a blend of modern aesthetics and cultural appeal. Previously known for its Mexican cuisine, the property offers the potential to transform it into a different type of establishment while preserving its original identity. The exterior of the building has been freshly painted, and the air conditioning system and roof are newly installed. The seller is motivated to sell.
Key Highlights
- Prime corner property on Main St with heavy traffic
- Recently remodeled restaurant with modern aesthetics
- New Air Conditioning system and Roof
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
$72,059
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
6.13%
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%
$1,441,180
$1.4M
Cap Rate 7%
$1,029,414
$1.0M
Cap Rate 9%
$800,656
$800.7K
Market Conditions
NOI Build-Up for 3,920 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
$101.1K $25.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$96.1K $24.51/SF
− OpEx
−$24.0K −$6.13/SF
NOI
$72.1K $18.38/SF
Area
ZIP 92707
Vacancy
5.00%
Lease Rate
$25.80 /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%
$1,441,180
Cap Rate 7%
$1,029,414
Cap Rate 9%
$800,656
Alternative Uses
Best Use
Specialty Retail
$1.03M
$900.7K – $1.20M
NOI $72,059 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$940.6K – $1.25M
NOI $75,245 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92707, CA
56,456
Population
14,767
Households
3.8
Avg Household Size
33
Median Age
17%
College-Educated
65%
High-School Grad
5.2 sq mi
ZIP Area
10,857
Density / Sq Mi
$99,491
Median Household Income
$35,582
Median Earnings
$2,141
Median Rent
$635,600
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?
Conventional restaurant - Prime corner restaurant opportunity with recent remodeling and high traffic.
Where is this conventional restaurant located?
The property is located at 1717 S Main St Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Prime corner property on Main St with heavy traffic; Recently remodeled restaurant with modern aesthetics; New Air Conditioning system and Roof
