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Freeway-Adjacent Office/Flex User Opportunity

18 Centerpointe Dr La Palma, CA 90623

18 Centerpointe Dr, La Palma, CA, 90623

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For Sale

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High-image office/flex building with user flexibility and freeway access.

Property Size54,129 SF

Price / SF$265.02

AddedFeb 9, 2024

Days on Market888

Last RefreshJul 15 at 4:28 pm

Property Features for 18 Centerpointe Dr

General Information

Standard status: Active
Size: 54,129 SF
Property subtype: Office

Building Details

Year Built: 1986

Listing office CBRE - Orange County

Listing date Feb 9, 2024

Source Crexi

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 CBRE - Orange County

Investment Insights

Based on property information with market context.

This property presents an owner-user office/flex opportunity in a freeway-adjacent location, situated within a high-image, campus-environment setting. The low-rise asset is located within a campus environment featuring lush landscaping and recent multimillion-dollar common-area upgrades, including an association lounge space. The property offers convenient surface parking and excellent egress/ingress with direct freeway access. Currently built out as office space, the property features three ground-level doors that have been drywalled over. New ownership can easily transition the property to be more flex in nature by removing the drywall and creating warehouse space. Alternatively, an office user can maintain the property in its current condition or replace the ground-level doors with storefronts or glass rollup doors to further enhance the exterior light into the space. The property offers a unique larger 2-story office/flex owner-user opportunity in a market with very little office supply available for users. The property size is 54129 square feet.

Key Highlights

Freeway‑adjacent location with excellent access and high visibility.
Rare owner‑user opportunity for a larger 2‑story office/flex space.
Flexibility to convert office space to flex/warehouse space with ground‑level doors.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.62M	$29.88
− Vacancy	−$198.1k	−$3.66
EGI	$1.42M	$26.22
− OpEx	−$354.8k	−$6.55
NOI	$1.06M	$19.66

54,129 SF · lease $29.88/SF/yr · vacancy 12.25% · expense 25.00%

Alternative Uses

Best Use

Office B

$15.21M

$13.31M – $17.74M (±1% cap)

NOI $1,064,435 @ 7.0% cap · market cap 7.42%

Second Best

Flex RnD

$14.07M

$12.31M – $16.41M (±1% cap)

NOI $984,845 @ 7.0% cap · market cap 6.87%

Theoretical Best

Office A

$18.18M

$15.91M – $21.21M (±1% cap)

NOI $1,272,659 @ 7.0% cap · market cap 8.87%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

For sale
Office buildings
CA
La Palma
90623
18 Centerpointe Dr

What type of property is this?

Office building - High-image office/flex building with user flexibility and freeway access.

Where is this office building located?

The property is located at 18 Centerpointe Dr La Palma, CA.

What is the asking price?

The asking price for this property is $14,345,000.

What are key features of this property?

This property features: Freeway‑adjacent location with excellent access and high visibility.; Rare owner‑user opportunity for a larger 2‑story office/flex space.; Flexibility to convert office space to flex/warehouse space with ground‑level doors.