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    Creative Office Campus in Costa Mesa Title is generated by Realmo AI

    150 Paularino Avenue, Costa Mesa, CA 92626

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    For Lease
    $2 SF/Yr $882/Mo (calc)

    Unique creative office campus with central courtyard and modern amenities.

    Type:Office
    Property size:
    4,413 SF
    Added:
    Mar 25, 2026
    Days on Market:
    58
    Last Refresh:
    Mar 18 at 9:26 am

    Property Features for 150 Paularino Avenue

    General Information

    Standard status
    Active
    Size
    4,413 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Ross Bourne
    Ross Bourne

    Listing agent Ross Bourne License #01436669

    Listing office CBRE - Orange County

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE - Orange County

    HighLights

    • Unique creative office campus with central amenity courtyard.
    • Immediate access to 55 & 405 Freeways and John Wayne International Airport.
    • On‑site event, meetings, and conference spaces operated by FLDWRK.
    • Move‑in ready creative spec suites available.
    • Operable garage doors providing access to exclusive outdoor patio space.
    • Artisan coffee & grab‑n‑go food shop (Buenas Coffee) on‑site.

    Overview

    Culture Yard, situated at 150 Paularino Avenue in Costa Mesa, is a distinctive creative office campus. It offers convenient access to the 55 and 405 Freeways, as well as John Wayne International Airport. The campus consists of four buildings surrounding a central amenity courtyard. The property features efficient floorplates, wood truss ceilings, and operable garage doors that open to exclusive outdoor patio spaces. On-site amenities include event, meeting, and conference spaces operated by FLDWRK. An artisan coffee and grab-n-go food shop, Buenas Coffee, is now open in Building B. Move-in ready creative spec suites are available. Outdoor amenities include a living room with music and seating areas, workspaces, ping pong, and bocce ball. Select units also offer private balconies and patios. The property size is 4413 square feet.
    Location Intelligence

    Current Use by Public Records

    Kazoni Construction Construction Company Setter Studios Film Production Robert Hilton Physician Buenas Coffee Cafe & Coffee Shop Protection Insurance Co ... Insurance Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Costa Mesa
    County
    Orange
    State
    California
    Longitude
    -117.875599
    Latitude
    33.682125

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    FAQs

    What type of property is this?
    Creative space - Unique creative office campus with central courtyard and modern amenities.
    Where is this creative space located?
    The property is located at 150 Paularino Avenue Costa Mesa, CA.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: Unique creative office campus with central amenity courtyard.; Immediate access to 55 & 405 Freeways and John Wayne International Airport.; On‑site event, meetings, and conference spaces operated by FLDWRK.
    (949) 725-8537
    We can help!
    Listing Contact
    Ross Bourne
    Ross Bourne
    Real Estate License ID: 01436669
    Learn More
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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.

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    150 Paularino Avenue, Costa Mesa, CA, 92626
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