Freestanding Owner-User Office
For Sale
$2,535,000
17722 Irvine Boulevard, Tustin, CA 92780
Freestanding office building with private offices and open workspace, plus covered and surface parking.
Property Size7,557 SF
Price / SF$335.45
Days on Market177
Property Features for 17722 Irvine Boulevard
General Information
Standard status
Active
Size
7,557 SF
Property subtype
General Commercial
Amenities
PR
21 Parking Spaces.
100x110
Building Details
Year Built
1975
Listing Agency:
Economos Dewolf, Inc.
(949) 576-2751
Listed By:
Geoffrey Dewolf · License #01319312
Source:
Xome
Added: Feb 28
Changed: Aug 24
Last Checked: Aug 23 at 4:37AM
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, Inc.
Investment Insights
Based on property information with market context.
This 7,557-SF owner-user office building offers a practical mix of private offices and open workspace. The property includes 11 covered parking stalls and 10 surface stalls, supporting convenient day-to-day access for employees and tenants. The building is configured so an owner can occupy all or a portion.
The building fronts Irvine Blvd and is located close to restaurants and amenities, including Old Town Tustin.
With its freestanding configuration and flexible suite-level occupancy, the property is positioned for users seeking an office building they can control and operate directly.
The building fronts Irvine Blvd and is located close to restaurants and amenities, including Old Town Tustin.
With its freestanding configuration and flexible suite-level occupancy, the property is positioned for users seeking an office building they can control and operate directly.
Key Highlights
- 7,557‑SF freestanding owner‑user office building with Irvine Blvd frontage
- Asking price $2,535,000 ($335/SF)
- Functional layout with private offices and open workspace
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
$148,607
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
5.86%
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%
$2,972,140
$3.0M
Cap Rate 7%
$2,122,957
$2.1M
Cap Rate 9%
$1,651,189
$1.7M
Market Conditions
NOI Build-Up for 7,557 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
$225.8K $29.88/SF
− Vacancy
−$27.7K −$3.66/SF
EGI
$198.1K $26.22/SF
− OpEx
−$49.5K −$6.55/SF
NOI
$148.6K $19.66/SF
Area
Orange County, CA
Vacancy
12.25%
Lease Rate
$29.88 /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%
$2,972,140
Cap Rate 7%
$2,122,957
Cap Rate 9%
$1,651,189
Alternative Uses
Best Use
Office B
$2.12M
$1.86M – $2.48M
NOI $148,607 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,677 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,691
Businesses Nearby
Explore this area
Business Placement
Demographics for 92780, CA
56,034
Population
18,308
Households
3.1
Avg Household Size
36
Median Age
36%
College-Educated
85%
High-School Grad
6.3 sq mi
ZIP Area
8,894
Density / Sq Mi
$98,647
Median Household Income
$44,849
Median Earnings
$2,211
Median Rent
$832,200
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 - Freestanding office building with private offices and open workspace, plus covered and surface parking.
Where is this office building located?
The property is located at 17722 Irvine Boulevard Tustin, CA.
What is the asking price?
The asking price for this property is $2,535,000.
What are key features of this property?
This property features: 7,557‑SF freestanding owner‑user office building with Irvine Blvd frontage; Asking price $2,535,000 ($335/SF); Functional layout with private offices and open workspace
