Absolute NNN Corporate-Leased
23029 Eastpark Dr, Yorba Linda, CA 92887
For Sale
$7,000,000
Single-unit retail property with full occupancy and substantial 2022 improvements.
Property Size18,630 SF
Price / SF$375.74
Days on Market47
Property Features for 23029 Eastpark Dr
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Building Details
Building Size
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
Compass Commercial Real Estate
Listed By:
Tony Odom · License #CalDRE #01817881
(408) 335-3009
Source:
Compass-cre
Added: Sep 22
Changed: Nov 4
Last Checked: Nov 6 at 6:11AM
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 Compass Commercial Real Estate
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Investment Insights
Based on property information with market context.
This 18,630-square-foot single-unit property in Yorba Linda is occupied under an absolute NNN lease with a corporate guarantee from La-Z-Boy. The building was completed in 2001 and received interior improvements in 2022, including more than $1 million in work. A new roof and HVAC system were also installed that year.
The property is located at 23029 Eastpark Dr in Yorba Linda’s Savi Ranch District, a major employment and retail area in Orange County, California. The site is zoned PD-17-CR and sits 27 miles southeast of downtown Los Angeles, less than 20 miles from John Wayne International Airport, and about a 30-minute drive from Ontario International Airport.
The lease has five years remaining on its extended term, followed by two five-year renewal options extending through 2041. Each option includes a 10% annual increase. The lease structure assigns no landlord responsibilities.
The property is located at 23029 Eastpark Dr in Yorba Linda’s Savi Ranch District, a major employment and retail area in Orange County, California. The site is zoned PD-17-CR and sits 27 miles southeast of downtown Los Angeles, less than 20 miles from John Wayne International Airport, and about a 30-minute drive from Ontario International Airport.
The lease has five years remaining on its extended term, followed by two five-year renewal options extending through 2041. Each option includes a 10% annual increase. The lease structure assigns no landlord responsibilities.
Key Highlights
- 18,630 SF single‑unit property with 100% occupancy
- Absolute NNN lease with La‑Z‑Boy corporate guarantee
- 2022 interior renovation included more than $1m in improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$423,280
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,465,600
$8.5M
Cap Rate 7%
$6,046,857
$6.0M
Cap Rate 9%
$4,703,111
$4.7M
Market Conditions
NOI Build-Up for 18,630 SF
Gross rent
$626.0K $33.60/SF
− Vacancy
−$21.3K −$1.14/SF
EGI
$604.7K $32.46/SF
− OpEx
−$181.4K −$9.74/SF
NOI
$423.3K $22.72/SF
Area
Orange County, CA
Vacancy
3.40%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,465,600
Cap Rate 7%
$6,046,857
Cap Rate 9%
$4,703,111
Alternative Uses
Best Use
Retail
$6.05M
$5.29M – $7.05M
NOI $423,280 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.30M
NOI $438,021 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,624
Businesses Nearby
525k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 26%
Shops & Services 25%
Dining 25%
Apparel 13%
Costco Wholesale
Superstores
136,023 visits/mo
0.4 miles
Costco Gasoline
Shops & Services
71,343 visits/mo
0.5 miles
Kohl's
Apparel
38,771 visits/mo
0.2 miles
Chick-fil-A
Dining
37,689 visits/mo
0.4 miles
McDonald's
Dining
31,287 visits/mo
0.4 miles
Demographics for 92887, CA
20,770
Population
7,218
Households
2.9
Avg Household Size
45
Median Age
58%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
1,838
Density / Sq Mi
$161,823
Median Household Income
$73,039
Median Earnings
$2,606
Median Rent
$1,130,900
Median Home Value
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Market
Properties on Market for NNN properties in Orange County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - Single-unit retail property with full occupancy and substantial 2022 improvements.
Where is this nnn property located?
The property is located at 23029 Eastpark Dr Yorba Linda, CA.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 18,630 SF single‑unit property with 100% occupancy; Absolute NNN lease with La‑Z‑Boy corporate guarantee; 2022 interior renovation included more than $1m in improvements
