Building Details

Tenancy Multi

Listing Agency: CBRE LA

Listed By: Jenny Eng · License #CA 01931224 Show Phone

Source: Crexi

Added: May 27 Changed: Sep 2 Last Checked: Sep 1 at 10:03AM

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Investment Insights

Based on property information with market context.

This new mixed-use development includes 13 retail and office units totaling 18,176 square feet on a 1.59-acre parcel. The project incorporates open plazas and abundant natural light, with a layout designed for boutique retail, dining, fitness, and professional services. Its commercial zoning is identified as Commercial - Coto de Caza Specific Plan.

Located at 23472 Vista del Verde in Coto de Caza, the property is positioned within a gated community in Orange County. The surrounding setting includes the community’s equestrian character, scenic landscapes, Cleveland National Forest, and the Coto de Caza Golf & Racquet Club. The development is intended to serve residents within the community while combining retail and office uses in a modern commercial setting.

Key Highlights

• 13‑unit mixed‑use retail and office development
• 18,176 SF project on a 1.59‑acre commercially zoned parcel
• Commercial - Coto de Caza Specific Plan zoning

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

$412,965

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

8.26%

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%

$8,259,300 $8.3M

Cap Rate 7%

$5,899,500 $5.9M

Cap Rate 9%

$4,588,500 $4.6M

Market Conditions

NOI Build-Up for 18,176 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

$610.7K $33.60/SF

− Vacancy

−$20.8K −$1.14/SF

EGI

$589.9K $32.46/SF

− OpEx

−$177.0K −$9.74/SF

NOI

$413.0K $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 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%

$8,259,300

Cap Rate 7%

$5,899,500

Cap Rate 9%

$4,588,500

Alternative Uses

Best Use

Retail

$5.90M

$5.16M – $6.88M (±1% cap)

NOI $412,965 @ 7.0% cap · market cap 8.26%

Second Best

Office B

$5.11M

$4.47M – $5.96M (±1% cap)

NOI $357,427 @ 7.0% cap · market cap 7.15%

Theoretical Best

Office A

$6.10M

$5.34M – $7.12M (±1% cap)

NOI $427,347 @ 7.0% cap · market cap 8.55%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Law Firm Auto Repair Shop Building Supply Auto Parts Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

96

Businesses Nearby

Explore this area Business Placement

Demographics for 92679, CA

31,016

Population

10,904

Households

2.8

Avg Household Size

45

Median Age

61%

College-Educated

98%

High-School Grad

25.2 sq mi

ZIP Area

1,231

Density / Sq Mi

$207,652

Median Household Income

$89,342

Median Earnings

$3,276

Median Rent

$1,242,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - A new development combines retail and professional office space within a gated community.

Where is this mixed-use property located?

The property is located at 23472 Vista del Verde Coto de Caza, CA.

What is the asking price?

The asking price for this property is $5,000,000.

What are key features of this property?

This property features: 13‑unit mixed‑use retail and office development; 18,176 SF project on a 1.59‑acre commercially zoned parcel; Commercial - Coto de Caza Specific Plan zoning