Freestanding Office with Church
For Sale
$2,329,250
1820 E 17th Street, Santa Ana, CA 92705
Single-story freestanding office with open vaulted assembly space and private office suite, positioned on a high-visibility corner.
Property Size4,235 SF
Price / SF$550
Days on Market47
Property Features for 1820 E 17th Street
General Information
Standard status
Active
Size
4,235 SF
Property subtype
Office
Site & Location
Traffic Count
31,000 vehicles/day
Highway Access
Yes
Additional Details
Office Units
1
Building Details
Building Size
4,235 SF
Year Built
1979
Stories
1
Listing Agency:
Lee & Associates
Listed By:
Eric Darnell · License #CalDRE #01888743
(949) 460-3681
Source:
Lee-associates
Added: Jul 22
Changed: Aug 14
Last Checked: Sep 6 at 5:13AM
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.
1820 E 17th St is a 4,235 SF single-story, freestanding office building that includes a church build-out. The interior features an open assembly space with vaulted ceilings, along with a private office suite comprising five offices, a records room, and restrooms. The building’s configuration supports flexible tenant or user needs while maintaining a clear separation between the main assembly area and private work areas.
Located on a high-visibility corner at 17th St & Cabrillo Park Dr, the property benefits from frontage on 17th Street with approximately 31,000 cars per day. Flexible zoning is described as permitting a range of alternative uses beyond office, including medical, retail, religious, daycare, and adult care.
Association dues are listed at $0.14 per month per square foot.
Located on a high-visibility corner at 17th St & Cabrillo Park Dr, the property benefits from frontage on 17th Street with approximately 31,000 cars per day. Flexible zoning is described as permitting a range of alternative uses beyond office, including medical, retail, religious, daycare, and adult care.
Association dues are listed at $0.14 per month per square foot.
Key Highlights
- 4,235 SF single‑story, freestanding office building built in 1979
- Church build‑out with open assembly space featuring vaulted ceilings
- Private office suite includes five offices, a records room, and restrooms
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
$66,787
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
2.87%
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%
$1,335,740
$1.3M
Cap Rate 7%
$954,100
$954.1K
Cap Rate 9%
$742,078
$742.1K
Market Conditions
NOI Build-Up for 4,235 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
$109.3K $25.80/SF
− Vacancy
−$20.2K −$4.77/SF
EGI
$89.0K $21.03/SF
− OpEx
−$22.3K −$5.26/SF
NOI
$66.8K $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%
$1,335,740
Cap Rate 7%
$954,100
Cap Rate 9%
$742,078
Alternative Uses
Best Use
Office B
$954.1K
$834.8K – $1.11M
NOI $66,787 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $89,094 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
31,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,362
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
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 - Single-story freestanding office with open vaulted assembly space and private office suite, positioned on a high-visibility corner.
Where is this office building located?
The property is located at 1820 E 17th Street Santa Ana, CA.
What is the asking price?
The asking price for this property is $2,329,250.
What are key features of this property?
This property features: 4,235 SF single‑story, freestanding office building built in 1979; Church build‑out with open assembly space featuring vaulted ceilings; Private office suite includes five offices, a records room, and restrooms
