Contiguous Office
New
For Sale
$2,796,375
1800 E 16th St & 1810 E 16th Street, Santa Ana, CA 92701
Two adjacent office units provide a combined commercial workspace in a two-building configuration.
Property Size7,457 SF
Price / SF$375
Days on Market3
Property Features for 1800 E 16th St & 1810 E 16th Street
General Information
Standard status
Active
Size
7,457 SF
Property subtype
Office
Additional Details
Office Units
2
Building Details
Building Size
7,457 SF
Year Built
1979
Listing Agency:
Lee & Associates
Listed By:
Jaimeson Hearne · License #CalDRE #01925107
(714) 262-8684
Source:
Lee-associates
Added: Sep 19
Changed: Sep 20
Last Checked: Sep 20 at 5:27AM
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
Investment Insights
Based on property information with market context.
This office property comprises Unit F at 1800 E 16th St and Unit G at 1810 E 16th Street, creating approximately 7,457 square feet of contiguous space. Unit F contains approximately 3,583 square feet, while Unit G offers approximately 3,874 square feet. Both units are configured for office use and are located in buildings constructed in 1979.
Key Highlights
- Approximately 7,457 square feet of contiguous office space
- Unit F includes approximately 3,583 square feet
- Unit G includes approximately 3,874 square feet
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
$121,072
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
4.33%
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%
$2,421,440
$2.4M
Cap Rate 7%
$1,729,600
$1.7M
Cap Rate 9%
$1,345,244
$1.3M
Market Conditions
NOI Build-Up for 7,457 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
$196.9K $26.40/SF
− Vacancy
−$35.4K −$4.75/SF
EGI
$161.4K $21.65/SF
− OpEx
−$40.4K −$5.41/SF
NOI
$121.1K $16.24/SF
Area
ZIP 92701
Vacancy
18.00%
Lease Rate
$26.40 /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%
$2,421,440
Cap Rate 7%
$1,729,600
Cap Rate 9%
$1,345,244
Alternative Uses
Best Use
Office B
$1.73M
$1.51M – $2.02M
NOI $121,072 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.31M
$2.02M – $2.69M
NOI $161,514 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 92701, CA
48,789
Population
13,470
Households
3.6
Avg Household Size
32
Median Age
11%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
15,247
Density / Sq Mi
$68,697
Median Household Income
$33,846
Median Earnings
$1,650
Median Rent
$608,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 units - Two adjacent office units provide a combined commercial workspace in a two-building configuration.
Where is this office units located?
The property is located at 1800 E 16th St & 1810 E 16th Street Santa Ana, CA.
What is the asking price?
The asking price for this property is $2,796,375.
What are key features of this property?
This property features: Approximately 7,457 square feet of contiguous office space; Unit F includes approximately 3,583 square feet; Unit G includes approximately 3,874 square feet
