Renovated Office Condo
For Sale
Contact for pricing
1588 N Batavia St Unit D, Orange, CA 92867
Recently renovated second-floor office condominium with free surface parking and on-site association-maintained common areas.
Property Size1,466 SF
Price / SF$375
Days on Market9
Property Features for 1588 N Batavia St Unit D
General Information
Standard status
Active
Size
1,466 SF
Property subtype
Office
Additional Details
Floor
2
Asking Price
$549,750
Highway Access
Yes
Building Details
Year Built
1982
Parking Ratio
3 per 1,000 SF
Listing Agency:
Economos Dewolf
Listed By:
Geoff DeWolf · License #01319312
(949) 576-2751
Source:
Crexi
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 24 at 7:32AM
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 Economos Dewolf
Investment Insights
Based on property information with market context.
Unit D is a second-floor office condominium within the Guthrie Batavia Business Park in Orange. The approximately 1,466-square-foot commercial unit is part of a recently renovated condo project originally built in 1982. Each condominium has its own HVAC equipment, with condition and age varying by unit.
Free, nonreserved surface parking is provided within the business center at approximately 3 spaces per 1,000 square feet. The association handles the roof, landscaping, parking lot, common areas, and related insurance. The property is near OC Vibe, Angel Stadium, Honda Center, and the 5, 22, 57, 55, and 91 Freeways. Roof improvements include flat roofs installed in 2020 with 20-year warranties and shingle roofs installed in 2025.
Free, nonreserved surface parking is provided within the business center at approximately 3 spaces per 1,000 square feet. The association handles the roof, landscaping, parking lot, common areas, and related insurance. The property is near OC Vibe, Angel Stadium, Honda Center, and the 5, 22, 57, 55, and 91 Freeways. Roof improvements include flat roofs installed in 2020 with 20-year warranties and shingle roofs installed in 2025.
Key Highlights
- ±1,466‑SF second‑floor office condominium
- Recently renovated commercial condo project built in 1982
- Free, nonreserved surface parking at a ratio of ±3/1,000‑SF
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
$27,090
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
4.93%
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%
$541,800
$541.8K
Cap Rate 7%
$387,000
$387.0K
Cap Rate 9%
$301,000
$301.0K
Market Conditions
NOI Build-Up for 1,466 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
$41.5K $28.32/SF
− Vacancy
−$5.4K −$3.68/SF
EGI
$36.1K $24.64/SF
− OpEx
−$9.0K −$6.16/SF
NOI
$27.1K $18.48/SF
Area
Orange, CA
Vacancy
13.00%
Lease Rate
$28.32 /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%
$541,800
Cap Rate 7%
$387,000
Cap Rate 9%
$301,000
Alternative Uses
Best Use
Office B
$387.0K
$338.6K – $451.5K
NOI $27,090 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$530.0K
$463.7K – $618.3K
NOI $37,099 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 92867, CA
44,927
Population
13,693
Households
3.3
Avg Household Size
36
Median Age
40%
College-Educated
88%
High-School Grad
12.0 sq mi
ZIP Area
3,744
Density / Sq Mi
$125,799
Median Household Income
$50,744
Median Earnings
$2,209
Median Rent
$951,000
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 - Recently renovated second-floor office condominium with free surface parking and on-site association-maintained common areas.
Where is this office units located?
The property is located at 1588 N Batavia St Unit D Orange, CA.
What is the asking price?
The asking price for this property is $549,750.
What are key features of this property?
This property features: ±1,466‑SF second‑floor office condominium; Recently renovated commercial condo project built in 1982; Free, nonreserved surface parking at a ratio of ±3/1,000‑SF
