Two-Entrance Medical Office
For Sale
$2,249,000
1555 W Commonwealth Avenue, Fullerton, CA 92833
Commercial Sale, Fullerton, CA
Property Size3,824 SF
Price / SF$588.13
Days on Market193
Property Features for 1555 W Commonwealth Avenue
General Information
Property type
Residential
Property subtype
Office
Directions
W Commonwealth Ave
Subdivision
83 - Fullerton
Standard status
Active
APN
03111339
Utilities
Cooling system
Central Air
Building Details
Year built
1937
Listing Agency:
T.N.G. Real Estate Consultants
(714) 987-3310
Listed By:
Youngju Park · License #01974903
(714) 576-9922
Added: Feb 18
Changed: Aug 24
Last Checked: Aug 30 at 1:06PM
MLS# PW26034001
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Single-story office/medical building with a permitted building area of 3,824 SF. The property is currently set up as a multi-room interior with a 2013 and 2023 permitted floor plan for an academy business. The main entrance opens to a large reception and lobby, three rooms, a kitchen, two bathrooms, and an additional conference area. A second, left-side entrance provides three rooms and two bathrooms, giving the building a practical separation of space.
Access is supported from multiple points, including handicap access at both entrances. There are two entrances to the parking lot, one from a back alley and one from Commonwealth Ave. The lot size is listed as over 20,000 SF, with room that could be reconfigured for additional parking. The property also notes convenient access to the 91 and 5 freeways.
With two entrances and multiple room groupings, the building can work for a doctor’s office, general office, academy use, or other business types that benefit from flexible space. The layout supports the possibility of operating two separate spaces, depending on tenant needs and interior configuration.
Access is supported from multiple points, including handicap access at both entrances. There are two entrances to the parking lot, one from a back alley and one from Commonwealth Ave. The lot size is listed as over 20,000 SF, with room that could be reconfigured for additional parking. The property also notes convenient access to the 91 and 5 freeways.
With two entrances and multiple room groupings, the building can work for a doctor’s office, general office, academy use, or other business types that benefit from flexible space. The layout supports the possibility of operating two separate spaces, depending on tenant needs and interior configuration.
Key Highlights
- Prime location with General Commercial zoning in Fullerton.
- Permitted building space of 3,824 SF with a flexible floor plan.
- Two separate entrances allowing for potential dual rental income.
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
$63,404
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
2.82%
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%
$1,268,080
$1.3M
Cap Rate 7%
$905,771
$905.8K
Cap Rate 9%
$704,489
$704.5K
Market Conditions
NOI Build-Up for 3,824 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
$101.0K $26.40/SF
− Vacancy
−$16.4K −$4.29/SF
EGI
$84.5K $22.11/SF
− OpEx
−$21.1K −$5.53/SF
NOI
$63.4K $16.58/SF
Area
Fullerton, CA
Vacancy
16.26%
Lease Rate
$26.40 /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%
$1,268,080
Cap Rate 7%
$905,771
Cap Rate 9%
$704,489
Alternative Uses
Best Use
Office B
$905.8K
$792.6K – $1.06M
NOI $63,404 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,076 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 92833, CA
52,598
Population
17,042
Households
3.1
Avg Household Size
39
Median Age
43%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
6,831
Density / Sq Mi
$113,296
Median Household Income
$51,502
Median Earnings
$2,155
Median Rent
$844,000
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 units - Single-story office with two handicap-accessible entrances and multi-room layout for medical, general, or academy use.
Where is this office units located?
The property is located at 1555 W Commonwealth Avenue Fullerton, CA.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Prime location with General Commercial zoning in Fullerton.; Permitted building space of 3,824 SF with a flexible floor plan.; Two separate entrances allowing for potential dual rental income.
