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    Irvine Concourse Office Space Title is generated by Realmo AI

    2020 Street Unit 750 Unit 750, Irvine, CA 92614

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    Office suites available in Irvine Concourse near John Wayne Airport.

    Type:Office
    Property size:
    271,106 SF
    Added:
    Jan 9, 2025
    Days on Market:
    513
    Last Refresh:
    May 13 at 8:40 pm

    Property Features for 2020 Street Unit 750 Unit 750

    General Information

    Standard status
    Active
    Size
    271,106 SF
    Property subtype
    Office

    Building Details

    Year Built
    1999

    We can help!

    Listing Contact
    MICHAEL RADEMAKER

    Listing agent MICHAEL RADEMAKER

    Listing office DRE #00556679

    Listing date Jan 9, 2025

    Source Xome

    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 DRE #00556679

    HighLights

    • Suites available from 1,300 SF to 18,000 SF, offering flexible space options.
    • Convenient location near John Wayne Airport and the 405 Freeway.
    • Ample parking with an expanded garage offering 886 spaces and electric vehicle charging stations.
    • High‑quality building facade with granite and reflective glass.
    • Modernized elevators: five passenger elevators and a freight elevator with loading dock access.
    • Walking distance to numerous amenities including hotels, restaurants, and a sports club.

    Overview

    Located within Irvine Concourse, the property at 2020 Main St. features a high-quality granite facade comprised of Carmen Red and Rojo Porrino Pink granite, offset by full-height blue reflective and solar gray glass. Suites range in size from 1,300 to 18,000 square feet. The building provides a 100 lb/sf load factor, newly renovated five-passenger elevators moving at 400 feet/minute with a 3,500-pound weight capacity, and a freight elevator providing access to the loading dock. A parking garage servicing 2030 Main St. is being expanded to offer seven levels with 886 spaces for employees and visitors, along with a card access control system. The first floor features 12-foot ceilings. Electric vehicle charging stations are available in the parking structure. Numerous amenities, including two hotels, ten restaurants, and the Sports Club Irvine, are within walking distance. John Wayne Airport and the 405 Freeway are located nearby. The property encompasses a total size of 271,106 square feet.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Irvine
    County
    Orange
    State
    California
    Longitude
    -117.809
    Latitude
    33.6747

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    FAQs

    What type of property is this?
    Office building - Office suites available in Irvine Concourse near John Wayne Airport.
    Where is this office building located?
    The property is located at 2020 Street Unit 750 Unit 750 Irvine, CA.
    What are key features of this property?
    This property features: Suites available from 1,300 SF to 18,000 SF, offering flexible space options.; Convenient location near John Wayne Airport and the 405 Freeway.; Ample parking with an expanded garage offering 886 spaces and electric vehicle charging stations.
    (909) 204-4244
    We can help!
    Listing Contact
    MICHAEL RADEMAKER
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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