Flex Space Warehouse with Dock
For Sale
Contact for pricing
23 Hughes, Irvine, CA 92618
New free-standing flex warehouse with dock high doors and a secured truck court in Irvine, California.
Property Size71,640 SF
Price / SF$519
Days on Market279
Property Features for 23 Hughes
General Information
Standard status
Active
Size
71,640 SF
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
Spectrum 2 Pa35
Warehouse & Industrial
Clear Height
36 ft
Office Build-Out
6,968 SF
Dock-High Doors
7
Drive-In Doors
1
Truck Court Depth
128 ft
Power
4,000 amps
Voltage
480 V
Three-Phase Power
Yes
Building Details
Buildings
1
Listing Agency:
JLL
(949) 885-2900
Listed By:
Steve Wagner · License #CA 01314652
(949) 683-9780
Source:
Moodyscre
Added: Jan 31
Changed: Oct 26
Last Checked: Nov 4 at 2:37PM
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 JLL
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Investment Insights
Based on property information with market context.
New freestanding flex space building with office area and a functional loading setup for day-to-day distribution. The property includes a 6,968 SF office area, 36' clear height, and a power service of 4,000 amps on 277/480 volt, 3 phase power. Loading includes 7 dock high doors plus 1 grade level door, supported by a 128' secured truck court.
The building is located at 23 Hughes in Irvine, California. With its combination of office support and high-clear warehouse space, the layout is well suited for flex users that need both operational space and on-site administrative capability.
The property size is 71,640 SF.
The building is located at 23 Hughes in Irvine, California. With its combination of office support and high-clear warehouse space, the layout is well suited for flex users that need both operational space and on-site administrative capability.
The property size is 71,640 SF.
Key Highlights
- 6,968 SF office area within a 71,640 SF flex space building
- 36' clear height for warehousing and flexible storage
- 4,000 amps, 277/480 volt, 3 phase power
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,124,707
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$22,494,140
$22.5M
Cap Rate 7%
$16,067,243
$16.1M
Cap Rate 9%
$12,496,744
$12.5M
Market Conditions
NOI Build-Up for 71,640 SF
Gross rent
$1.38M $19.32/SF
− Vacancy
−$60.9K −$0.85/SF
EGI
$1.32M $18.47/SF
− OpEx
−$198.5K −$2.77/SF
NOI
$1.12M $15.70/SF
Area
ZIP 92618
Vacancy
4.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$22,494,140
Cap Rate 7%
$16,067,243
Cap Rate 9%
$12,496,744
Alternative Uses
Best Use
Warehouse
$16.07M
$14.06M – $18.75M
NOI $1,124,707 @ 7.0% cap · market cap 3.02%
Second Best
Flex RnD
$13.51M
$11.82M – $15.76M
NOI $945,476 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$23.59M
$20.64M – $27.52M
NOI $1,651,411 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
36 ft
Clear height
7
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92618, CA
57,488
Population
26,470
Households
2.2
Avg Household Size
35
Median Age
72%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
2,777
Density / Sq Mi
$135,609
Median Household Income
$85,192
Median Earnings
$3,053
Median Rent
$1,153,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Rooted Culinaire — 23 Musick, Irvine, CA 92618
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Frequently Asked Questions
What type of property is this?
Flex space - New free-standing flex warehouse with dock high doors and a secured truck court in Irvine, California.
Where is this flex space located?
The property is located at 23 Hughes Irvine, CA.
What is the asking price?
The asking price for this property is $37,181,160.
What are key features of this property?
This property features: 6,968 SF office area within a 71,640 SF flex space building; 36' clear height for warehousing and flexible storage; 4,000 amps, 277/480 volt, 3 phase power
