Two-Story Freestanding Office
For Sale
$3,425,000
2070 N Tustin Avenue, Santa Ana, CA 92705
Freestanding two-story office with a ground-floor law firm buildout and a leased second floor through June 2028.
Property Size9,032 SF
Price / SF$379.21
Days on Market900
Property Features for 2070 N Tustin Avenue
General Information
Standard status
Active
Size
9,032 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Stories
2
Listing Agency:
Economos Dewolf,Inc.
Listed By:
Geoffrey Dewolf
(714) 731-3777
Source:
Sevengables
Added: Mar 15, 2024
Changed: Aug 27
Last Checked: Aug 30 at 6:43PM
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 Economos Dewolf,Inc.
Investment Insights
Based on property information with market context.
This is a two-story, freestanding 9,032-sf office building configured for both owner-occupancy and investment use. The ground floor is currently improved with a law firm buildout and is available for a user buyer to occupy. The second floor is leased through June 2028 to a construction company, providing an income component while the property is held.
Located on the north corner of an office park, the building features prominent N Tustin Ave signage. Access is described as easy to the 55, 5, and 22 Freeways. Restaurants and other amenities are noted as being in the immediate vicinity.
For tenants or buyers seeking a property with the flexibility to occupy and operate, the ground-floor improvements offer immediate use for a professional office environment. For investors, the existing second-floor lease through June 2028 supports a diversified occupancy plan within the same freestanding asset.
Located on the north corner of an office park, the building features prominent N Tustin Ave signage. Access is described as easy to the 55, 5, and 22 Freeways. Restaurants and other amenities are noted as being in the immediate vicinity.
For tenants or buyers seeking a property with the flexibility to occupy and operate, the ground-floor improvements offer immediate use for a professional office environment. For investors, the existing second-floor lease through June 2028 supports a diversified occupancy plan within the same freestanding asset.
Key Highlights
- Two‑story, freestanding 9,032‑sf office building built in 1980
- North corner of the office park with prominent N Tustin Ave signage
- Ground floor is user‑occupant ready with a current law firm buildout
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
$142,437
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
4.16%
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%
$2,848,740
$2.8M
Cap Rate 7%
$2,034,814
$2.0M
Cap Rate 9%
$1,582,633
$1.6M
Market Conditions
NOI Build-Up for 9,032 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
$233.0K $25.80/SF
− Vacancy
−$43.1K −$4.77/SF
EGI
$189.9K $21.03/SF
− OpEx
−$47.5K −$5.26/SF
NOI
$142.4K $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%
$2,848,740
Cap Rate 7%
$2,034,814
Cap Rate 9%
$1,582,633
Alternative Uses
Best Use
Office B
$2.03M
$1.78M – $2.37M
NOI $142,437 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.71M
$2.38M – $3.17M
NOI $190,011 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,160
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 - Freestanding two-story office with a ground-floor law firm buildout and a leased second floor through June 2028.
Where is this office building located?
The property is located at 2070 N Tustin Avenue Santa Ana, CA.
What is the asking price?
The asking price for this property is $3,425,000.
What are key features of this property?
This property features: Two‑story, freestanding 9,032‑sf office building built in 1980; North corner of the office park with prominent N Tustin Ave signage; Ground floor is user‑occupant ready with a current law firm buildout
