Multi-Tenant Office Building with
For Sale
$2,950,000
11088 Trask Ave, Garden Grove, CA 92843
Well-maintained multi-tenant office building with attached garages totaling 740 square feet for secure storage or operations.
Property Size9,445 SF
Lot Size0.48 Acres
Price / SF$312.33
Days on Market50
Property Features for 11088 Trask Ave
General Information
Standard status
Active
Size
9,445 SF
Lot size
0.48 Acres
Property subtype
Office
Occupancy
75%
Additional Details
Highway Access
Yes
Amenities
Attractive Pricing at Approximately $312 Per Square Foot, Offering a Compelling Value Relative to Comparable Orange County Office Assets and Replacement Cost
Ideal Owner User Opportunity with 100 Percent Month to Month Tenancy, Allowing Immediate Occupancy While Maintaining Rental Income from Existing Tenants
Approximately 2,132 SF of Contiguous Owner-Occupied Space (3 Suites) Delivered Vacant at Close of Escrow Making It Ideal for Owner-User Occupancy or Immediate Lease-Up to Capture Additional Upside
SBA Financing Potential with as Little as 10% Down Payment for Qualified Owner User Purchasers
Flexible 9,445 Square Foot Office Building That Can Continue as a Multi-Tenant Investment or Be Converted to a Single Occupant Headquarters Facility
Rare Office Property Featuring Four Attached Garages Totaling 740 Square Feet (Not Included in the Building Square Footage), Providing Valuable Storage and Operational Flexibility
Excellent Central Orange County Location with Convenient Access to the 22, 405, 605, and 5 Freeways, Providing Outstanding Regional Connectivity
Building Details
Building Size
9,445 SF
Year Built
1976
Tenancy
Multi
Listing Agency:
(949) 419-3276
Listed By:
Alex Mobin · License #License(s): CA: 01845973, NV: S.0199954
(949) 419-3276
Source:
Marcusmillichap
Added: Jul 11
Changed: Aug 21
Last Checked: Aug 28 at 7:03AM
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 Alex Mobin
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present a well-maintained 9,445 square foot multi-tenant office building originally constructed in 1976, situated on 0.48 acres in the City of Garden Grove. The building is currently configured for multiple tenants and features a flexible layout that can be adapted for a single-tenant owner-user or corporate headquarters, regional office, medical practice, or professional services use.
A distinctive feature of the offering is four attached garages totaling 740 square feet, which are not included in the building’s reported square footage. These garages can support secure storage and operational needs such as equipment, inventory, fleet vehicles, or records retention. The property is currently 75 percent occupied by multiple tenants on month-to-month leases, providing immediate flexibility to occupy all or a portion of the building while retaining rental income during a transition period.
Approximately 2,132 square feet of contiguous office space currently used by the ownership will be delivered vacant at the close of escrow. The seller notes the property’s structure may also be suitable for SBA owner-user financing for qualified purchasers.
A distinctive feature of the offering is four attached garages totaling 740 square feet, which are not included in the building’s reported square footage. These garages can support secure storage and operational needs such as equipment, inventory, fleet vehicles, or records retention. The property is currently 75 percent occupied by multiple tenants on month-to-month leases, providing immediate flexibility to occupy all or a portion of the building while retaining rental income during a transition period.
Approximately 2,132 square feet of contiguous office space currently used by the ownership will be delivered vacant at the close of escrow. The seller notes the property’s structure may also be suitable for SBA owner-user financing for qualified purchasers.
Key Highlights
- Multi‑tenant office building built in 1976 with 9,445 SF on 0.48 acres in Garden Grove, CA
- Four attached garages totaling 740 SF (not included in the 9,445 SF) for secure storage, fleet vehicles, or equipment
- Currently 75% occupied with multiple tenants on month‑to‑month leases for transition flexibility
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
$144,934
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
4.91%
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%
$2,898,680
$2.9M
Cap Rate 7%
$2,070,486
$2.1M
Cap Rate 9%
$1,610,378
$1.6M
Market Conditions
NOI Build-Up for 9,445 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
$249.3K $26.40/SF
− Vacancy
−$56.1K −$5.94/SF
EGI
$193.2K $20.46/SF
− OpEx
−$48.3K −$5.12/SF
NOI
$144.9K $15.35/SF
Area
Garden Grove, CA
Vacancy
22.50%
Lease Rate
$26.40 /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%
$2,898,680
Cap Rate 7%
$2,070,486
Cap Rate 9%
$1,610,378
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.42M
NOI $144,934 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.96M
$2.59M – $3.45M
NOI $206,914 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
75%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,402
Businesses Nearby
Explore this area
Business Placement
Demographics for 92843, CA
45,480
Population
12,051
Households
3.8
Avg Household Size
38
Median Age
18%
College-Educated
69%
High-School Grad
4.0 sq mi
ZIP Area
11,370
Density / Sq Mi
$82,009
Median Household Income
$34,941
Median Earnings
$1,878
Median Rent
$665,900
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 building - Well-maintained multi-tenant office building with attached garages totaling 740 square feet for secure storage or operations.
Where is this office building located?
The property is located at 11088 Trask Ave Garden Grove, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Multi‑tenant office building built in 1976 with 9,445 SF on 0.48 acres in Garden Grove, CA; Four attached garages totaling 740 SF (not included in the 9,445 SF) for secure storage, fleet vehicles, or equipment; Currently 75% occupied with multiple tenants on month‑to‑month leases for transition flexibility
