Multi-Tenant Office
For Sale
$1,550,000
536 W Commonwealth, Fullerton, CA 92832
Established office property with newer air conditioning, dedicated parking, and walkable access to nearby services.
Property Size3,943 SF
Days on Market9
Property Features for 536 W Commonwealth
General Information
Standard status
Active
Size
3,943 SF
Property subtype
Commercial
Building Details
Building Size
3,943 SF
Listing Agency:
Team Spirit Realty, Inc.
Listed By:
Anna Park
(714) 562-0404
Source:
Elliman
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 26 at 9:57AM
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 Team Spirit Realty, Inc.
Investment Insights
Based on property information with market context.
This 3,900-square-foot office property at 536 W Commonwealth includes space occupied by a dental office and computer technicians. A newer AC unit supports the building’s mechanical systems, while eight on-site parking spaces serve the occupants. Additional free street parking is available.
The property is located in Fullerton, California, with a Walk Score of 71, a Bike Score of 59, and a Transit Score of 32. These scores indicate a walkable setting with bike access and some public transportation availability. Existing office occupancy provides an established operating profile for the asset.
The property is located in Fullerton, California, with a Walk Score of 71, a Bike Score of 59, and a Transit Score of 32. These scores indicate a walkable setting with bike access and some public transportation availability. Existing office occupancy provides an established operating profile for the asset.
Key Highlights
- 3,900‑square‑foot office property at 536 W Commonwealth, Fullerton, CA 92832
- Occupied by a dental office and computer technicians
- Newer AC unit
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
$67,908
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
4.38%
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%
$1,358,160
$1.4M
Cap Rate 7%
$970,114
$970.1K
Cap Rate 9%
$754,533
$754.5K
Market Conditions
NOI Build-Up for 3,943 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
$123.0K $31.20/SF
− Vacancy
−$9.8K −$2.50/SF
EGI
$113.2K $28.70/SF
− OpEx
−$45.3K −$11.48/SF
NOI
$67.9K $17.22/SF
Area
Fullerton, CA
Vacancy
8.00%
Lease Rate
$31.20 /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%
$1,358,160
Cap Rate 7%
$970,114
Cap Rate 9%
$754,533
Alternative Uses
Best Use
Healthcare Medical
$970.1K
$848.9K – $1.13M
NOI $67,908 @ 7.0% cap · market cap 4.38%
Second Best
Office B
$934.0K
$817.2K – $1.09M
NOI $65,377 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,754 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,323
Businesses Nearby
Explore this area
Business Placement
Demographics for 92832, CA
26,277
Population
9,170
Households
2.9
Avg Household Size
35
Median Age
32%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
9,061
Density / Sq Mi
$92,588
Median Household Income
$42,634
Median Earnings
$2,027
Median Rent
$773,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Established office property with newer air conditioning, dedicated parking, and walkable access to nearby services.
Where is this office building located?
The property is located at 536 W Commonwealth Fullerton, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 3,900‑square‑foot office property at 536 W Commonwealth, Fullerton, CA 92832; Occupied by a dental office and computer technicians; Newer AC unit
