Two-Story Professional Office
For Sale
$4,190,000
1701 N Main St, Santa Ana, CA 92706
Two-story professional office building with flexible single-tenant or multi-tenant layout and ample on-site parking.
Property Size12,460 SF
Lot Size0.88 Acres
Price / SF$336.28
Days on Market225
Property Features for 1701 N Main St
General Information
Standard status
Active
Size
12,460 SF
Net Rentable
12,460 SF
Lot size
0.88 Acres
Property subtype
Office
Building Details
Building Size
12,460 SF
Year Built
1977
Buildings
1
Stories
2
Listing Agency:
Superior Real Estate Group
Listed By:
Duy Nguyen · License #02040539
(714) 895-2222
Source:
Altamirarealty
Added: Feb 2
Changed: Sep 14
Last Checked: Sep 14 at 10:05AM
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 Superior Real Estate Group
Investment Insights
Based on property information with market context.
1701 N Main St in Santa Ana is a two-story professional office building offering a flexible layout for single-tenant or multi-tenant occupancy. The property provides approximately 12,460 sqft of rentable building area and sits on a 38,333 sqft lot (about 0.88 acres), with space that supports ample on-site parking.
Constructed in 1977, the building is described as supporting a broad range of professional and commercial uses, including medical, dental, accounting, education/school, professional services, real estate, retail, special use, and multi-tenant office configurations. This flexibility can be beneficial for tenant fit across office-oriented businesses and for property strategies such as lease-up, tenant repositioning, or reconfiguration of suites, subject to local zoning and city approvals.
The property is positioned with convenient access to major thoroughfares in Santa Ana, and it is presented as offering strong visibility and accessibility within an established Orange County market.
Constructed in 1977, the building is described as supporting a broad range of professional and commercial uses, including medical, dental, accounting, education/school, professional services, real estate, retail, special use, and multi-tenant office configurations. This flexibility can be beneficial for tenant fit across office-oriented businesses and for property strategies such as lease-up, tenant repositioning, or reconfiguration of suites, subject to local zoning and city approvals.
The property is positioned with convenient access to major thoroughfares in Santa Ana, and it is presented as offering strong visibility and accessibility within an established Orange County market.
Key Highlights
- Approximately 12,460 sqft of rentable building area
- 38,333 sqft lot (about 0.88 acres) with ample on‑site parking space
- Two‑story office building constructed in 1977
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
$225,429
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
5.38%
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%
$4,508,580
$4.5M
Cap Rate 7%
$3,220,414
$3.2M
Cap Rate 9%
$2,504,767
$2.5M
Market Conditions
NOI Build-Up for 12,460 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
$321.5K $25.80/SF
− Vacancy
−$20.9K −$1.68/SF
EGI
$300.6K $24.12/SF
− OpEx
−$75.1K −$6.03/SF
NOI
$225.4K $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%
$4,508,580
Cap Rate 7%
$3,220,414
Cap Rate 9%
$2,504,767
Alternative Uses
Best Use
Office B
$3.22M
$2.82M – $3.76M
NOI $225,429 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M
NOI $294,722 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story professional office building with flexible single-tenant or multi-tenant layout and ample on-site parking.
Where is this office building located?
The property is located at 1701 N Main St Santa Ana, CA.
What is the asking price?
The asking price for this property is $4,190,000.
What are key features of this property?
This property features: Approximately 12,460 sqft of rentable building area; 38,333 sqft lot (about 0.88 acres) with ample on‑site parking space; Two‑story office building constructed in 1977
