Three-Parcel Office
For Sale
Contact for pricing
1502 N Broadway, Santa Ana, CA 92706
Includes a vacant office, leased chiropractic space, and a dedicated parking parcel.
Property Size10,166 SF
Price / SF$506.59
Days on Market8
Property Features for 1502 N Broadway
General Information
Standard status
Active
Size
10,166 SF
Class
C
Property subtype
Office
Investment Type
Owner/User
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
FTGU Commercial Real Estate
Listed By:
Fernando Crisantos · License #CA 01972227
(949) 558-0312
Source:
Crexi
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 9:08PM
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 FTGU Commercial Real Estate
Investment Insights
Based on property information with market context.
This three-parcel office portfolio totals 10,166 square feet and combines distinct ownership and occupancy components. The property includes a vacant office at 1502 N. Broadway, a separate parking parcel at 1514 N. Broadway, and a leased chiropractic office at 1516 N. Broadway.
The assemblage is positioned on Broadway near the Santa Ana Civic Center and Downtown Santa Ana. The surrounding area includes civic, legal, medical, residential, and professional office uses, placing the property within an established central business setting. The combination of available office space, leased office occupancy, and dedicated parking supports both owner-user and mixed occupancy arrangements.
The assemblage is positioned on Broadway near the Santa Ana Civic Center and Downtown Santa Ana. The surrounding area includes civic, legal, medical, residential, and professional office uses, placing the property within an established central business setting. The combination of available office space, leased office occupancy, and dedicated parking supports both owner-user and mixed occupancy arrangements.
Key Highlights
- 10,166‑square‑foot portfolio spanning three parcels
- Vacant office at 1502 N. Broadway
- Leased chiropractic office at 1516 N. Broadway
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
$183,926
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
3.57%
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%
$3,678,520
$3.7M
Cap Rate 7%
$2,627,514
$2.6M
Cap Rate 9%
$2,043,622
$2.0M
Market Conditions
NOI Build-Up for 10,166 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
$262.3K $25.80/SF
− Vacancy
−$17.0K −$1.68/SF
EGI
$245.2K $24.12/SF
− OpEx
−$61.3K −$6.03/SF
NOI
$183.9K $18.09/SF
Area
Santa Ana, CA
Vacancy
6.50%
Lease Rate
$25.80 /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%
$3,678,520
Cap Rate 7%
$2,627,514
Cap Rate 9%
$2,043,622
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.07M
NOI $183,926 @ 7.0% cap · market cap 3.57%
Second Best
Healthcare Medical
$2.37M
$2.08M – $2.77M
NOI $166,007 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,461 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 92706, CA
35,621
Population
10,473
Households
3.4
Avg Household Size
35
Median Age
23%
College-Educated
69%
High-School Grad
3.5 sq mi
ZIP Area
10,177
Density / Sq Mi
$96,424
Median Household Income
$36,850
Median Earnings
$1,890
Median Rent
$839,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Includes a vacant office, leased chiropractic space, and a dedicated parking parcel.
Where is this office building located?
The property is located at 1502 N Broadway Santa Ana, CA.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: 10,166‑square‑foot portfolio spanning three parcels; Vacant office at 1502 N. Broadway; Leased chiropractic office at 1516 N. Broadway
