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    Santa Ana Medical Office Space Title is generated by Realmo AI

    1403 N Tustin Avenue Santa Ana CA 92705, Santa Ana, CA 92705

    View on Map
    For Lease
    $1.75 SF/Yr

    Professional office space

    Added:
    Jan 16, 2025
    Days on Market:
    500
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 1403 N Tustin Avenue Santa Ana CA 92705

    General Information

    Standard status
    Active
    Property type
    Medical Office Space, Office buildings, Medical space, Office Spaces, Healthcare properties
    Class
    B
    Elevators
    N/A
    Rate Type
    Monthly

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Tom Gioia

    Listing agent Tom License #01219394

    Listing office

    Listing date Jan 16, 2025

    Overview

    Located in Santa Ana, California, at 1403 N Tustin Avenue, this property offers 59,590 square feet of professional office space. Its location provides convenient access to major freeways, including the 55, 5, and 22. The building is suitable for a variety of professional medical or dental practices. The design offers a modern and efficient layout. Nearby, a diverse range of restaurants and retail establishments provide ample amenities for employees and visitors. The monthly rate is $1.75 per square foot. This property presents a unique opportunity for businesses seeking a high-profile location with excellent accessibility and a supportive surrounding environment. The building's size and layout offer significant flexibility for tenants seeking to establish or expand their operations in a thriving area. The property is categorized as medical offices, office buildings, medical space, office properties, and healthcare properties. Further details regarding lease terms are available upon request.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bảo hiểm Mỹ Insurance Agency Tarbell, Realtors Real Estate Agency Allcare Specialty Pharmacy Pharmacy Dr. Thomas Avallone Ophthalmologist

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • North Tustin Veterinary Clinic — 14081 Yorba St #103, Tustin, CA 92780
    • Banfield Pet Hospital — 2140 17th St, Santa Ana, CA 92705
    • WildLifeRx — 17602 17th St, Tustin, CA 92780
    • n.tustin vet clinc — 14081 Yorba St, Tustin, CA 92780

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.832473
    Latitude
    33.757487

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    FAQs

    What type of property is this?
    Medical Office Space - Professional office space
    Where is this medical office space located?
    The property is located at 1403 N Tustin Avenue Santa Ana CA 92705 Santa Ana, CA.
    What is the lease rate?
    The lease rate is $1.75 SF/Yr.
    (949) 790-3124
    We can help!
    Listing Contact
    Tom Gioia
    Real Estate License ID: 01219394
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1403 N Tustin Avenue Santa Ana, CA 92705, Santa Ana, CA 92705
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