Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1231 - 1241 W Memory Lane Santa Ana, CA 92706

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3 SF/Yr

    Retail spaces available in a prime Orange County location.

    Type:Retail
    Property size:
    9,470 SF
    Added:
    Nov 26, 2025
    Days on Market:
    128
    Last Refresh:
    Apr 1 at 9:44 pm

    Property Features for 1231 - 1241 W Memory Lane

    General Information

    Standard status
    Active
    Size
    9,470 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1963

    Spaces For Lease

    at 1231 - 1241 W Memory Lane Contact us

    We can help!

    Listing Contact
    Randall Dalby
    Randall Dalby

    Listing agent Randall Dalby License #CalDRE #01256576

    Listing office Lee & Associates - Irvine

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates - Irvine

    Overview

    Retail Units in Orange County

    Retail units are available for rent in a prime Orange County location. The property offers a total size of 9470 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Juan Pollo Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.884
    Latitude
    33.7734

    Nearby Similar for Lease

    • Contact for pricing

      Turnkey Office Space in Santa Ana

      Remodeled office space ideal for wellness, fitness, or professional services.
      1204 N Ross, Santa Ana, CA 92701
      View Details
    • Contact for pricing

      Retail Space in Golden Circle

      Retail space in a high-density area near freeways.
      2031 E First Street, Santa Ana, CA 92705
      View Details
    • $1.75/mo

      Industrial Building with Fenced Yard

      6,300 SF industrial building with office space and secured parking.
      3020 S. Fairview Street, Santa Ana, CA 92704
      View Details
    • Contact for pricing

      CA, Santa Ana - W Civic Center Dr

      901 Civic Center Dr, Unit 2ND, Santa Ana, CA 92703
      View Details
    • Sponsored
      Contact for pricing

      John Wayne Airport

      4695 Macarthur Ct, Unit 11TH, Santa Ana, CA 92660
      View Details
    • $1.49/mo

      Freestanding Industrial Building with Yard

      7,200 SF industrial building with secured yard for lease.
      2130 South Santa Fe Street, Santa Ana, CA, 92705
      View Details
    • $1.55/mo

      Industrial Space with Fenced Yard

      Industrial space featuring office area, fenced yard, and freeway access.
      1939 South Susan Street, Santa Ana, CA, 92704
      View Details
    • $2/mo

      Retail Spaces in Artist Village

      Mixed-use retail spaces in the heart of Santa Ana Arts District.
      220 N Broadway, Santa Ana, CA 92702
      View Details
    • $2.00/mo

      Downtown Santa Ana Retail/Office Space

      Prime retail and office spaces in a revitalized Orange County neighborhood.
      204 N Broadway, Santa Ana, CA 92701
      View Details
    • Contact for pricing

      Retail/Office Space in Santa Ana

      Retail or office space available for lease in Santa Ana.
      2407 N Tustin Avenue, Santa Ana, CA 92705
      View Details
    • $1.40/mo

      Freestanding Building with Freeway Frontage

      Freestanding retail building with freeway frontage and existing CUP.
      1544 E Warner Avenue, Santa Ana, CA 92705
      View Details
    • $2.00/mo

      Premier Medical/Professional Office Building

      Renovated medical and professional office building with modern amenities.
      1600 N Broadway, Santa Ana, CA 92701
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available in a prime Orange County location.
    Where is this retail space located?
    The property is located at 1231 - 1241 W Memory Lane Santa Ana, CA.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: Prime Orange County location; Small retail units available; Year Built: 1963
    (949) 790-3165
    We can help!
    Listing Contact
    Randall Dalby
    Randall Dalby
    Real Estate License ID: CalDRE #01256576
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!