Medical Office Condo with Solar
For Sale
$6,650,000
260 E Ontario Avenue 101, Corona, CA 92879
Ground-floor medical condominium with an available user suite and two NNN-leased suites.
Property Size13,462 SF
Price / SF$493.98
Days on Market597
Property Features for 260 E Ontario Avenue 101
General Information
Standard status
Active
Size
13,462 SF
Property subtype
COMMERCIAL
Additional Details
Floor
Ground Floor
Asking Price
$6,650,000
Office Units
3
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
Economos Dewolf, Inc.
(949) 576-2751
Listed By:
Geoffrey Dewolf · License #01319312
Source:
Velocityrealtysd
Added: Jan 1, 2025
Changed: Aug 15
Last Checked: Aug 20 at 11:36AM
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 Economos Dewolf, Inc.
Investment Insights
Based on property information with market context.
This 13,462-square-foot ground-floor medical condominium at 260 E Ontario Avenue includes an 8,607-square-foot suite available for an owner-user. Two additional suites are leased on an NNN basis through 2034, creating a combination of occupancy and in-place income within the property. Built in 2008, the asset is part of Corona South Main Medical Plaza.
The property includes 268 solar panels installed in 2019. Restaurants and other amenities are within walking distance, adding convenience for occupants and visitors. The suite configuration supports medical office use with both user and leased components in the same condominium.
The property includes 268 solar panels installed in 2019. Restaurants and other amenities are within walking distance, adding convenience for occupants and visitors. The suite configuration supports medical office use with both user and leased components in the same condominium.
Key Highlights
- 13,462‑SF ground‑floor medical condominium
- 8,607‑SF suite available for an owner‑user
- Two additional suites leased on NNN terms through 2034
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
$222,931
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
3.35%
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%
$4,458,620
$4.5M
Cap Rate 7%
$3,184,729
$3.2M
Cap Rate 9%
$2,477,011
$2.5M
Market Conditions
NOI Build-Up for 13,462 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
$403.9K $30.00/SF
− Vacancy
−$32.3K −$2.40/SF
EGI
$371.6K $27.60/SF
− OpEx
−$148.6K −$11.04/SF
NOI
$222.9K $16.56/SF
Area
Corona, CA
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$4,458,620
Cap Rate 7%
$3,184,729
Cap Rate 9%
$2,477,011
Alternative Uses
Best Use
Healthcare Medical
$3.18M
$2.79M – $3.72M
NOI $222,931 @ 7.0% cap · market cap 3.35%
Second Best
Office B
$2.97M
$2.60M – $3.47M
NOI $207,907 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$4.19M
$3.66M – $4.89M
NOI $293,105 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92879, CA
47,243
Population
14,919
Households
3.2
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
9.8 sq mi
ZIP Area
4,821
Density / Sq Mi
$91,862
Median Household Income
$42,496
Median Earnings
$1,968
Median Rent
$592,000
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?
Medical Office Space - Ground-floor medical condominium with an available user suite and two NNN-leased suites.
Where is this medical office space located?
The property is located at 260 E Ontario Avenue 101 Corona, CA.
What is the asking price?
The asking price for this property is $6,650,000.
What are key features of this property?
This property features: 13,462‑SF ground‑floor medical condominium; 8,607‑SF suite available for an owner‑user; Two additional suites leased on NNN terms through 2034
