Irvine Office Building For
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16320 Bake Pkwy, Irvine, CA 92618
Two-story office building in Irvine, California, ideal for owner occupancy.
Property Size4,960 SF
Price / SF$550
Days on Market192
Property Features for 16320 Bake Pkwy
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Office
Zoning
Office
Investment Type
Owner/User
Building Details
Year Built
2007
Stories
2
Listing Agency:
Lee & Associates - Newport Beach
(949) 231-8309
Listed By:
MADDIE ZACHER · License #CA
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 2:43PM
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 Lee & Associates - Newport Beach
Investment Insights
Based on property information with market context.
Located in Irvine, California, 16320 Bake Parkway is a two-story office building constructed in 2007. The building has an area of approximately 4,960 square feet. The property is zoned for office use and allows for full owner occupancy or partial occupancy with potential income-producing space. The building is already configured with a separate ground floor entrance and shared kitchen and restrooms. The layout includes 11 private offices and 2 conference rooms. The property offers convenient access to the 5, 133, and 405 freeways and is in close proximity to the Irvine Spectrum Center, as well as other food and retail centers. The building also features top signage.
Key Highlights
- Located in Irvine, California, a prestigious city.
- Built in 2007, a relatively new construction.
- Approximately 4,960 square feet, 2‑story office building.
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
$82,376
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
3.02%
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%
$1,647,520
$1.6M
Cap Rate 7%
$1,176,800
$1.2M
Cap Rate 9%
$915,289
$915.3K
Market Conditions
NOI Build-Up for 4,960 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
$131.5K $26.52/SF
− Vacancy
−$21.7K −$4.38/SF
EGI
$109.8K $22.14/SF
− OpEx
−$27.5K −$5.54/SF
NOI
$82.4K $16.61/SF
Area
ZIP 92618
Vacancy
16.50%
Lease Rate
$26.52 /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%
$1,647,520
Cap Rate 7%
$1,176,800
Cap Rate 9%
$915,289
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.37M
NOI $82,376 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,336 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 92618, CA
57,488
Population
26,470
Households
2.2
Avg Household Size
35
Median Age
72%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
2,777
Density / Sq Mi
$135,609
Median Household Income
$85,192
Median Earnings
$3,053
Median Rent
$1,153,400
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 - Two-story office building in Irvine, California, ideal for owner occupancy.
Where is this office building located?
The property is located at 16320 Bake Pkwy Irvine, CA.
What is the asking price?
The asking price for this property is $2,728,000.
What are key features of this property?
This property features: Located in Irvine, California, a prestigious city.; Built in 2007, a relatively new construction.; Approximately 4,960 square feet, 2‑story office building.
