Retail Buildings in Prime
For Sale
$2,998,000
1812 W Edinger, Santa Ana, CA 92704
Two single-story retail buildings with tenants in a prime location.
Property Size6,700 SF
Lot Size0.61 Acres
Price / SF$447.46
Days on Market149
Property Features for 1812 W Edinger
General Information
Standard status
Active
Size
6,700 SF
Lot size
0.61 Acres
Net Operating Income
$88,000
Building Details
Building Size
6,700 SF
Year Built
1959
Stories
1
Listed By:
Tiffany Nguyen
(714) 719-3788
Source:
Evrealestate
Added: Apr 13
Changed: Sep 4
Last Checked: Sep 7 at 4:48AM
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 Tiffany Nguyen
Investment Insights
Based on property information with market context.
Two single-story buildings, located at 1812 & 1814 W. Edinger, are situated in a prime area with existing tenants. The property comprises a total of four units across the two buildings. A new roof has recently been installed. According to the owner, the buildings have the potential for three-story construction, subject to city verification. Parcel information indicates 3,400 square feet for the building at 1812 W. Edinger and an additional 3,300 square feet for the building at 1814 W. Edinger, totaling a potential of 6,700 square feet. The lot size is 26,585 square feet. The location has a bike score of 53, indicating it is bikeable, a walk score of 43, indicating car-dependent, and a transit score of 39, indicating some transit options.
Key Highlights
- Prime location with existing tenants.
- Two buildings with a total of four units.
- New roof recently installed.
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
$105,244
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
3.51%
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%
$2,104,880
$2.1M
Cap Rate 7%
$1,503,486
$1.5M
Cap Rate 9%
$1,169,378
$1.2M
Market Conditions
NOI Build-Up for 6,700 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
$160.8K $24.00/SF
− Vacancy
−$10.5K −$1.56/SF
EGI
$150.3K $22.44/SF
− OpEx
−$45.1K −$6.73/SF
NOI
$105.2K $15.71/SF
Area
ZIP 92704
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,104,880
Cap Rate 7%
$1,503,486
Cap Rate 9%
$1,169,378
Alternative Uses
Best Use
Retail
$1.50M
$1.32M – $1.75M
NOI $105,244 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,394 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 92704, CA
82,841
Population
20,887
Households
4
Avg Household Size
35
Median Age
20%
College-Educated
68%
High-School Grad
7.4 sq mi
ZIP Area
11,195
Density / Sq Mi
$94,249
Median Household Income
$37,925
Median Earnings
$2,147
Median Rent
$641,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - Two single-story retail buildings with tenants in a prime location.
Where is this retail property located?
The property is located at 1812 W Edinger Santa Ana, CA.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Prime location with existing tenants.; Two buildings with a total of four units.; New roof recently installed.
