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    Irvine Flex/Tech Building Title is generated by Realmo AI

    2698 White Road FOR SALE OR LEASE, Irvine, CA 92614

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    Freestanding flex/tech building in Irvine's Airport Area submarket.

    Type:Office
    Property size:
    16,308 SF
    Added:
    May 19, 2026
    Days on Market:
    9
    Last Refresh:
    May 19 at 2:54 am

    Property Features for 2698 White Road FOR SALE OR LEASE

    General Information

    Standard status
    Active
    Size
    16,308 SF
    Property subtype
    Office

    Spaces For Lease

    at 2698 White Road FOR SALE OR LEASE Contact us

    We can help!

    Listing Contact
    Troy Wooton
    Troy Wooton

    Listing agent Troy Wooton

    Listing office Newmark

    Listing date May 19, 2026

    Source Nmrk

    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 Newmark

    HighLights

    • Prominent flex/tech building in Irvine's Airport Area with Jamboree Road visibility.
    • Excellent access to the 405 and 55 freeways and 73 toll road, and close proximity to John Wayne Airport.
    • ±16,308 SF freestanding building suitable for sale or lease.
    • Significant power supply: 2,000+ amps (to verify).
    • Ample parking with 50 spaces.
    • Concrete tilt‑up construction with glassline on 3 sides.

    Overview

    The building at 2698 White Road in Irvine, California, is a flex/tech property situated in the Airport Area submarket. The property has visibility from Jamboree Road. The freestanding building offers approximately 16,308 square feet for sale or lease, including an estimated 3,200 square feet of office space (20%) and approximately 13,108 square feet of flex/tech area (80%). The building features a drop ceiling, temperature control, and a 12-foot clear height. The electrical capacity includes 2,000+ amps (to verify). There are 50 parking spaces available. A Fenwal fire detection and suppression system is in place. The property has concrete tilt-up construction with a glassline on three sides. The location provides access to the 405 and 55 freeways, as well as the 73 toll road. Retail and dining amenities are nearby. One or more grade-level doors are possible.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • OC Chefs — 17192 Murphy Ave, Irvine, CA 92623
    • Creative Coordinating Catering — 2730, Irvine, CA 92619
    • Kathy Events Inc — 2102 Business Center Dr STE 130, Irvine, CA 92612
    • NOMADA — 2 Park Plaza, Irvine, CA 92614
    • Foodee — 1 Park Plaza, Irvine, CA 92614

    Location Insight

    • Map
    • Local Demand
    City
    Irvine
    County
    Orange
    State
    California
    Longitude
    -117.842443
    Latitude
    33.6789923

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    FAQs

    What type of property is this?
    Flex space - Freestanding flex/tech building in Irvine's Airport Area submarket.
    Where is this flex space located?
    The property is located at 2698 White Road FOR SALE OR LEASE Irvine, CA.
    What are key features of this property?
    This property features: Prominent flex/tech building in Irvine's Airport Area with Jamboree Road visibility.; Excellent access to the 405 and 55 freeways and 73 toll road, and close proximity to John Wayne Airport.; ±16,308 SF freestanding building suitable for sale or lease.
    (949) 608-2121
    We can help!
    Listing Contact
    Troy Wooton
    Troy Wooton
    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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