Medical Office Building with
For Sale
$4,200,000
1701 N Main St, Santa Ana, CA 92706
Two-story office building on a hard corner with elevator, parking, and flexible suite configurations for medical and professional use.
Property Size13,270 SF
Price / SF$316.50
Days on Market97
Property Features for 1701 N Main St
General Information
Standard status
Active
Size
13,270 SF
Property subtype
Office Medical
Occupancy
69%
Amenities
Rare Medical/Professional Office Owner-User Opportunity with ±4,034 SF Available on the Ground Floor
Highly Visible Hard Corner Location at North Main Street & 17th Street in the Santa Ana Civic Center
Two-Story ±13,270 SF Office Building Situated on ±0.88 Acres with Elevator Access
Existing Medical Tenancy Includes Back Pain Chiropractic Clinic & All Kids Dental
Flexible Suite Configuration Allows Medical or Professional Users to Combine Available Suites
Offered at $4,200,000 ($316.50 PSF) Attractive Basis for an Orange County Medical Office Asset
Large Paved Parking Lot with Excellent Accessibility Throughout Central Orange County
Building Details
Building Size
13,270 SF
Year Built
1978
Listing Agency:
Marcus & Millichap
Listed By:
Alex Mobin · License #License(s): CA: 01845973, NV: S.0199954
(949) 419-3276
Source:
Marcusmillichap
Added: Jun 1
Changed: Sep 5
Last Checked: Sep 5 at 3:52AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
1701 N Main Street is a two-story medical and professional office building constructed in 1977. The property includes an elevator, flexible suite configurations, and a large, paved parking lot, with space currently occupied by established healthcare tenants.
Situated on a highly visible hard corner of North Main Street and 17th Street, the building offers strong identity and convenient access within Santa Ana’s Civic Center area. It is zoned C1-MD and is positioned to serve medical, dental, and professional office uses.
Back Pain Chiropractic Clinic occupies the entire second floor after expanding within the building, and All Kids Dental occupies an additional suite on the first floor. The offering also includes two ground-floor suites that may be combined, providing options for an owner-user to occupy a substantial portion while maintaining in-place rental income.
Situated on a highly visible hard corner of North Main Street and 17th Street, the building offers strong identity and convenient access within Santa Ana’s Civic Center area. It is zoned C1-MD and is positioned to serve medical, dental, and professional office uses.
Back Pain Chiropractic Clinic occupies the entire second floor after expanding within the building, and All Kids Dental occupies an additional suite on the first floor. The offering also includes two ground-floor suites that may be combined, providing options for an owner-user to occupy a substantial portion while maintaining in-place rental income.
Key Highlights
- Two‑story 13,270‑SF office building built in 1977, located on the hard corner of N Main St and 17th St on approx. 0.88 acres.
- Zoned C1‑MD and suited for medical and professional office use, with flexible suite configurations for a variety of uses.
- Elevator‑served building plus a large, paved parking lot for tenant and visitor parking.
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
$240,084
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
5.72%
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%
$4,801,680
$4.8M
Cap Rate 7%
$3,429,771
$3.4M
Cap Rate 9%
$2,667,600
$2.7M
Market Conditions
NOI Build-Up for 13,270 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
$342.4K $25.80/SF
− Vacancy
−$22.3K −$1.68/SF
EGI
$320.1K $24.12/SF
− OpEx
−$80.0K −$6.03/SF
NOI
$240.1K $18.09/SF
Area
Santa Ana, CA
Vacancy
6.50%
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%
$4,801,680
Cap Rate 7%
$3,429,771
Cap Rate 9%
$2,667,600
Alternative Uses
Best Use
Office B
$3.43M
$3.00M – $4.00M
NOI $240,084 @ 7.0% cap · market cap 5.72%
Second Best
Healthcare Medical
$3.10M
$2.71M – $3.61M
NOI $216,694 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$4.48M
$3.92M – $5.23M
NOI $313,881 @ 7.0% cap · market cap 7.47%
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 92706, CA
35,621
Population
10,473
Households
3.4
Avg Household Size
35
Median Age
23%
College-Educated
69%
High-School Grad
3.5 sq mi
ZIP Area
10,177
Density / Sq Mi
$96,424
Median Household Income
$36,850
Median Earnings
$1,890
Median Rent
$839,100
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?
Medical Office Space - Two-story office building on a hard corner with elevator, parking, and flexible suite configurations for medical and professional use.
Where is this medical office space located?
The property is located at 1701 N Main St Santa Ana, CA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Two‑story 13,270‑SF office building built in 1977, located on the hard corner of N Main St and 17th St on approx. 0.88 acres.; Zoned C1‑MD and suited for medical and professional office use, with flexible suite configurations for a variety of uses.; Elevator‑served building plus a large, paved parking lot for tenant and visitor parking.
