Freestanding Flex
For Sale
Contact for pricing
1281 N Patt St, Anaheim, CA 92801
Office and industrial functionality with substantial vertical clearance, dedicated power, and ground-level loading access.
Property Size6,018 SF
Price / SF$445
Days on Market12
Property Features for 1281 N Patt St
General Information
Standard status
Active
Size
6,018 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
1,802 SF
Mezzanine
2,000 SF
Drive-In Doors
1
Power
400 amps
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Listing Agency:
Voit Real Estate Services
(949) 309-6410
Listed By:
Erik Sikes
(949) 309-6410
Source:
Moodyscre
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 10 at 11:14AM
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 Voit Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding flex property contains 6,018 square feet with a combination of office, mezzanine, and industrial space. The office component totals 1,802 SF, including 901 SF on the second story, while a 2,000 SF steel mezzanine adds useful elevated area. The building also offers 22'-24' clear height for operational flexibility.
Power service includes 400 amps at 277/480 volts with three-phase distribution. A 12' x 14' ground-level door supports material movement and service access. The property is located at 1281 N Patt St in Anaheim, California.
Power service includes 400 amps at 277/480 volts with three-phase distribution. A 12' x 14' ground-level door supports material movement and service access. The property is located at 1281 N Patt St in Anaheim, California.
Key Highlights
- 6,018‑square‑foot freestanding flex building
- 1,802 SF of office space, including 901 SF on the second story
- 2,000 SF steel mezzanine structure
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
$99,279
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
3.71%
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%
$1,985,580
$2.0M
Cap Rate 7%
$1,418,271
$1.4M
Cap Rate 9%
$1,103,100
$1.1M
Market Conditions
NOI Build-Up for 6,018 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
$169.7K $28.20/SF
− Vacancy
−$37.3K −$6.20/SF
EGI
$132.4K $22.00/SF
− OpEx
−$33.1K −$5.50/SF
NOI
$99.3K $16.50/SF
Area
ZIP 92801
Vacancy
22.00%
Lease Rate
$28.20 /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%
$1,985,580
Cap Rate 7%
$1,418,271
Cap Rate 9%
$1,103,100
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.65M
NOI $99,279 @ 7.0% cap · market cap 3.71%
Second Best
Warehouse
$1.35M
$1.18M – $1.57M
NOI $94,479 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,192 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92801, CA
63,163
Population
19,519
Households
3.2
Avg Household Size
34
Median Age
21%
College-Educated
73%
High-School Grad
6.3 sq mi
ZIP Area
10,026
Density / Sq Mi
$78,477
Median Household Income
$37,516
Median Earnings
$1,977
Median Rent
$632,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Office and industrial functionality with substantial vertical clearance, dedicated power, and ground-level loading access.
Where is this flex space located?
The property is located at 1281 N Patt St Anaheim, CA.
What is the asking price?
The asking price for this property is $2,678,010.
What are key features of this property?
This property features: 6,018‑square‑foot freestanding flex building; 1,802 SF of office space, including 901 SF on the second story; 2,000 SF steel mezzanine structure
