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    Medical Office Building with Parking Title is generated by Realmo AI

    550 & 600 S Main Street, Orange, CA 92868

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    Lease a LEED Gold medical-ready office building with on-site parking, updated base building systems, and patient access upgrades.

    Type:Office
    Property size:
    175,000 SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:05 am

    Property Features for 550 & 600 S Main Street

    General Information

    Standard status
    Active
    Size
    175,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 550 & 600 S Main Street Contact us

    We can help!

    Listing Contact
    Parke Miller

    Listing agent Parke Miller

    Listing office

    Listing date Jun 2, 2026

    Source Lpc

    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 Parke Miller

    HighLights

    • LEED Gold certified medical‑ready office building available for lease
    • On‑site parking with a combination of structured and surface parking
    • Patient pick‑up/drop‑off and ride share area by the front door, plus curb cut access from Main Street
    • Planned base building updates: plumbing and electrical upgrades, fire alarm retrofit, elevator modernization, and base HVAC improvements
    • Planned building improvements include refreshed building facade/front door, renovated main lobby and reception, and updates to upper floor corridors/elevator lobbies/restrooms
    • On‑site upgrades include EV charging stations, bicycle parking, exterior lighting, signage and wayfinding, and landscape enhancement

    Overview

    This medical-oriented office property is presented as a lease opportunity with site and building improvements designed to support patient and visitor flow. On-site parking is available through a combination of structured and surface parking, and the front door experience has been refreshed to include patient pick-up/drop-off and ride share space. Improvements also include landscape enhancements, enhanced path of travel and common area beautification, exterior lighting upgrades, and additional signage and wayfinding. Accessibility is supported with curb-cut access from Main Street, along with EV charging stations and bicycle parking.

    The building is part of a LEED Gold certified platform, and additional planned updates are in progress. Base building planned improvements include plumbing and electrical upgrades, electrical distribution improvements, fire alarm system retrofit and enhancement, base building HVAC system improvements, and elevator modernization. Planned building improvements include renovation of the main lobby and reception area, refurbishment of upper floor corridors, elevator lobbies and restrooms, and delivery of upper floors in a white box shell configuration.

    For medical and service-based operators evaluating expansion or relocation, the combination of patient-oriented circulation, white box delivery for custom buildout, and scheduled mechanical and life-safety enhancements creates a practical foundation for occupancy. With elevator modernization and ongoing base building upgrades, the property is positioned to support tenants seeking a long-term, system-updated environment.
    Location Intelligence

    Current Use by Public Records

    Orange County Transportation ... Corporate Office Access Freight Service Transit Finance Learning ... Consultant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Orange
    State
    California
    Longitude
    -117.8679389
    Latitude
    33.7790777

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    FAQs

    What type of property is this?
    Office building - Lease a LEED Gold medical-ready office building with on-site parking, updated base building systems, and patient access upgrades.
    Where is this office building located?
    The property is located at 550 & 600 S Main Street Orange, CA.
    What are key features of this property?
    This property features: LEED Gold certified medical‑ready office building available for lease; On‑site parking with a combination of structured and surface parking; Patient pick‑up/drop‑off and ride share area by the front door, plus curb cut access from Main Street
    (949) 333-2114
    We can help!
    Listing Contact
    Parke Miller
    Learn More
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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.

    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.

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    550 & 600 S Main Street, Orange, CA 92868
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