Freestanding Office Building with
For Sale
$8,279,700
29883 Santa Margarita Parkway, Rancho Santa Margarita, CA 92688
Freestanding office/medical building featuring a private patio and extensive glass with polished concrete interiors.
Property Size14,900 SF
Days on Market40
Property Features for 29883 Santa Margarita Parkway
General Information
Standard status
Active
Size
14,900 SF
Property subtype
Office
Amenities
private patio
EV car chargers
Building Details
Building Size
14,900 SF
Year Built
2003
Buildings
1
Listing Agency:
Lee & Associates - Irvine
Listed By:
Mark Jerue · License #CalDRE #01073399
(949) 874-1549
Source:
Lee-associates
Added: Jul 29
Changed: Aug 13
Last Checked: Sep 5 at 5:41AM
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
Investment Insights
Based on property information with market context.
Freestanding office/medical building with a private patio and a bright, image-forward interior. The space is characterized by extensive glass, polished concrete floors, exposed ceilings, and upgraded finishes, creating a modern environment for client-facing and professional uses.
The property is located at 29883 Santa Margarita Parkway in Rancho Santa Margarita, California, and was built in 2003. On-site amenities include EV car chargers. Office furniture may be possible, supporting flexible move-in planning depending on tenant requirements.
The property is located at 29883 Santa Margarita Parkway in Rancho Santa Margarita, California, and was built in 2003. On-site amenities include EV car chargers. Office furniture may be possible, supporting flexible move-in planning depending on tenant requirements.
Key Highlights
- Freestanding office/medical building with private patio
- Extensive glass storefront and interior glazing
- Polished concrete flooring with exposed ceilings
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
$293,005
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
3.54%
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%
$5,860,100
$5.9M
Cap Rate 7%
$4,185,786
$4.2M
Cap Rate 9%
$3,255,611
$3.3M
Market Conditions
NOI Build-Up for 14,900 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
$445.2K $29.88/SF
− Vacancy
−$54.5K −$3.66/SF
EGI
$390.7K $26.22/SF
− OpEx
−$97.7K −$6.55/SF
NOI
$293.0K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /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%
$5,860,100
Cap Rate 7%
$4,185,786
Cap Rate 9%
$3,255,611
Alternative Uses
Best Use
Office B
$4.19M
$3.66M – $4.88M
NOI $293,005 @ 7.0% cap · market cap 3.54%
Second Best
Healthcare Medical
$4.06M
$3.55M – $4.73M
NOI $283,868 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$5.00M
$4.38M – $5.84M
NOI $350,323 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 92688, CA
44,688
Population
16,388
Households
2.7
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
13.2 sq mi
ZIP Area
3,385
Density / Sq Mi
$142,015
Median Household Income
$72,020
Median Earnings
$2,508
Median Rent
$857,100
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.
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office/medical building featuring a private patio and extensive glass with polished concrete interiors.
Where is this office building located?
The property is located at 29883 Santa Margarita Parkway Rancho Santa Margarita, CA.
What is the asking price?
The asking price for this property is $8,279,700.
What are key features of this property?
This property features: Freestanding office/medical building with private patio; Extensive glass storefront and interior glazing; Polished concrete flooring with exposed ceilings
