Medical Office
New
For Sale
$700,000
1731 W Romneya, Anaheim, CA 92801
Former dental-practice space within Martin Luther Medical Center Plaza with convenient access to nearby freeways.
Property Size1,308 SF
Days on Market3
Property Features for 1731 W Romneya
General Information
Standard status
Active
Size
1,308 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Building Size
1,308 SF
Year Built
1972
Units
1
Listing Agency:
Keller Williams Realty N. Tustin
(714) 514-7251
Listed By:
Kim Wells · License #01145511
(714) 514-7251
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 7:11AM
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 Keller Williams Realty N. Tustin
Investment Insights
Based on property information with market context.
This medical office unit is located at 1731 W Romneya in Anaheim’s Martin Luther Medical Center Plaza. The property was previously used as a dental practice, providing a documented medical-use history for the space. The building dates to 1972.
The property is situated near the 91 and 5 Freeways and includes ample parking spaces. Its community setting includes a garden area. Walk Score is 67, indicating a somewhat walkable location; Bike Score is 65, classified as bikeable; and Transit Score is 35, reflecting some transit access.
The property is situated near the 91 and 5 Freeways and includes ample parking spaces. Its community setting includes a garden area. Walk Score is 67, indicating a somewhat walkable location; Bike Score is 65, classified as bikeable; and Transit Score is 35, reflecting some transit access.
Key Highlights
- Medical office unit in Martin Luther Medical Center Plaza
- Previously used as a dental practice
- Located near the 91 and 5 Freeways
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
$23,827
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
3.40%
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%
$476,540
$476.5K
Cap Rate 7%
$340,386
$340.4K
Cap Rate 9%
$264,744
$264.7K
Market Conditions
NOI Build-Up for 1,308 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
$43.2K $33.00/SF
− Vacancy
−$3.5K −$2.64/SF
EGI
$39.7K $30.36/SF
− OpEx
−$15.9K −$12.14/SF
NOI
$23.8K $18.22/SF
Area
ZIP 92801
Vacancy
8.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
40.00%
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%
$476,540
Cap Rate 7%
$340,386
Cap Rate 9%
$264,744
Alternative Uses
Best Use
Healthcare Medical
$340.4K
$297.8K – $397.1K
NOI $23,827 @ 7.0% cap · market cap 3.40%
Second Best
Office B
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$416.7K
$364.6K – $486.1K
NOI $29,166 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92801, CA
63,163
Population
19,519
Households
3.2
Avg Household Size
34
Median Age
21%
College-Educated
73%
High-School Grad
6.3 sq mi
ZIP Area
10,026
Density / Sq Mi
$78,477
Median Household Income
$37,516
Median Earnings
$1,977
Median Rent
$632,600
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?
Medical Office Space - Former dental-practice space within Martin Luther Medical Center Plaza with convenient access to nearby freeways.
Where is this medical office space located?
The property is located at 1731 W Romneya Anaheim, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Medical office unit in Martin Luther Medical Center Plaza; Previously used as a dental practice; Located near the 91 and 5 Freeways
