Upgraded Two-Story Office
For Sale
$1,875,000
2803 17th, Santa Ana, CA 92706
Two-story corner office building with multiple suites and separate electrical meters for each unit.
Property Size3,950 SF
Price / SF$474.68
Days on Market42
Property Features for 2803 17th
General Information
Standard status
Active
Size
3,950 SF
Property subtype
Office
Additional Details
Office Units
9
Amenities
None, Window/Wall Unit
Carbon Monoxide Detector, None
3
Tile, Concrete
Corner Lot.
Rectangular, Level
Corner, Level, Rectangular.
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
DC Real Estate
(714) 200-3000
Listed By:
Duong Cao
Source:
Xome
Added: Jun 30
Changed: Aug 8
Last Checked: Aug 10 at 3:39AM
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 DC Real Estate
Investment Insights
Based on property information with market context.
Upgraded two-story corner office building featuring 1–9 individual office suites with flexible interior layout, including interior walls that can be removed to create larger office spaces. The building is set up as a multi-tenant property with separate electrical meters and on-site restrooms. Improvements include a tile roof, stucco exterior, updated doors, engineered wood flooring, and interior and exterior paint.
The property is located at 2803 W 17th in Santa Ana, CA (92706) on a standalone corner site with high visibility along a busy, high-traffic main street. The building has a strong occupancy profile and is currently listed as 90%+ occupied, with 18 units occupied and monthly rental income of $14,210. Tenants pay their own electricity.
The property is located at 2803 W 17th in Santa Ana, CA (92706) on a standalone corner site with high visibility along a busy, high-traffic main street. The building has a strong occupancy profile and is currently listed as 90%+ occupied, with 18 units occupied and monthly rental income of $14,210. Tenants pay their own electricity.
Key Highlights
- Two‑story corner commercial building with 9 individual office suites, each with separate electrical meters
- Currently 18 units occupied with $14,210 monthly rental income; tenants pay their own electricity
- Flexible suite layout with interior walls that can be removed to create larger office spaces
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
$71,464
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
3.81%
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%
$1,429,280
$1.4M
Cap Rate 7%
$1,020,914
$1.0M
Cap Rate 9%
$794,044
$794.0K
Market Conditions
NOI Build-Up for 3,950 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
$101.9K $25.80/SF
− Vacancy
−$6.6K −$1.68/SF
EGI
$95.3K $24.12/SF
− OpEx
−$23.8K −$6.03/SF
NOI
$71.5K $18.09/SF
Area
Santa Ana, CA
Vacancy
6.50%
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%
$1,429,280
Cap Rate 7%
$1,020,914
Cap Rate 9%
$794,044
Alternative Uses
Best Use
Office B
$1.02M
$893.3K – $1.19M
NOI $71,464 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,431 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Explore this area
Business Placement
Demographics for 92706, CA
35,621
Population
10,473
Households
3.4
Avg Household Size
35
Median Age
23%
College-Educated
69%
High-School Grad
3.5 sq mi
ZIP Area
10,177
Density / Sq Mi
$96,424
Median Household Income
$36,850
Median Earnings
$1,890
Median Rent
$839,100
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 - Two-story corner office building with multiple suites and separate electrical meters for each unit.
Where is this office building located?
The property is located at 2803 17th Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: Two‑story corner commercial building with 9 individual office suites, each with separate electrical meters; Currently 18 units occupied with $14,210 monthly rental income; tenants pay their own electricity; Flexible suite layout with interior walls that can be removed to create larger office spaces
