Two-Unit Office
New
For Sale
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1816 Old Tustin Ave, Santa Ana, CA 92705
Two separately metered office units support flexible owner-user or multi-occupant use.
Property Size1,468 SF
Price / SF$475
Days on Market4
Property Features for 1816 Old Tustin Ave
General Information
Standard status
Active
Size
1,468 SF
Property subtype
OFFICE
Listing Agency:
Tidemark Real Estate Services
(949) 561-1900
Listed By:
Taylor Snyder · License #02092420
(949) 533-1321
Source:
Moodyscre
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 12 at 10:01AM
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 Tidemark Real Estate Services
Investment Insights
Based on property information with market context.
This 1,468-square-foot office building is arranged as two units, providing a practical layout for an owner-user or separate occupancy. Each unit has its own electrical meter and is served by 90-amp, 120/240V, single-phase power.
The property is located at 1816 Old Tustin Ave in Santa Ana, California. A secured or fenced yard area may be possible, subject to buyer verification. The two-unit configuration and independent electrical service provide flexibility for office operations and occupancy planning.
The property is located at 1816 Old Tustin Ave in Santa Ana, California. A secured or fenced yard area may be possible, subject to buyer verification. The two-unit configuration and independent electrical service provide flexibility for office operations and occupancy planning.
Key Highlights
- 1,468‑square‑foot office building
- Two‑unit configuration supports flexible occupancy
- Separate electrical meters for each unit
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
$23,151
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
3.32%
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%
$463,020
$463.0K
Cap Rate 7%
$330,729
$330.7K
Cap Rate 9%
$257,233
$257.2K
Market Conditions
NOI Build-Up for 1,468 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
$37.9K $25.80/SF
− Vacancy
−$7.0K −$4.77/SF
EGI
$30.9K $21.03/SF
− OpEx
−$7.7K −$5.26/SF
NOI
$23.2K $15.77/SF
Area
ZIP 92705
Vacancy
18.50%
Lease Rate
$25.80 /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%
$463,020
Cap Rate 7%
$330,729
Cap Rate 9%
$257,233
Alternative Uses
Best Use
Office B
$330.7K
$289.4K – $385.9K
NOI $23,151 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$441.2K
$386.0K – $514.7K
NOI $30,883 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 92705, CA
45,902
Population
16,642
Households
2.8
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
11.8 sq mi
ZIP Area
3,890
Density / Sq Mi
$125,928
Median Household Income
$51,830
Median Earnings
$2,250
Median Rent
$1,135,600
Median Home Value
Check the figures for this property
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 building - Two separately metered office units support flexible owner-user or multi-occupant use.
Where is this office building located?
The property is located at 1816 Old Tustin Ave Santa Ana, CA.
What is the asking price?
The asking price for this property is $697,300.
What are key features of this property?
This property features: 1,468‑square‑foot office building; Two‑unit configuration supports flexible occupancy; Separate electrical meters for each unit
