Third-Floor Office
For Sale
$2,980,000
2900 Bristol Street B300, Costa Mesa, CA 92626
Elevator-served workspace offers dual entrances, contemporary finishes, and flexible occupancy options.
Property Size7,862 SF
Price / SF$379.04
Days on Market50
Property Features for 2900 Bristol Street B300
General Information
Standard status
Active
Size
7,862 SF
Elevators
Yes
Additional Details
Floor
3
Asking Price
$2,980,000
Highway Access
Yes
Building Details
Year Built
1981
Listing Agency:
Economos Dewolf, Inc.
(949) 576-2751
Listed By:
Geoffrey Dewolf · License #01319312
Source:
Myfabuloushome
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 Economos Dewolf, Inc.
Investment Insights
Based on property information with market context.
This 7,862 SF office condominium occupies the full third floor at The Waters at Creekside. The dual-entry configuration creates a practical layout for an owner-user seeking dedicated access and adaptable space planning. The suite is offered in turnkey condition with a high-image interior buildout and modern finishes, while elevator service supports convenient access throughout the building.
The property is positioned within walking distance of The Camp and The Lab, with major freeways surrounding the area and John Wayne Airport adjacent. The full condominium can accommodate an owner-user, or a portion may be leased while retaining space for ongoing operations. Built in 1981, the property combines an established office setting with a flexible third-floor configuration.
The property is positioned within walking distance of The Camp and The Lab, with major freeways surrounding the area and John Wayne Airport adjacent. The full condominium can accommodate an owner-user, or a portion may be leased while retaining space for ongoing operations. Built in 1981, the property combines an established office setting with a flexible third-floor configuration.
Key Highlights
- 7,862 SF office condo occupying the entire third floor
- Dual‑entry layout with elevator service
- Turnkey interior buildout with modern finishes
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
$130,356
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
4.37%
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%
$2,607,120
$2.6M
Cap Rate 7%
$1,862,229
$1.9M
Cap Rate 9%
$1,448,400
$1.4M
Market Conditions
NOI Build-Up for 7,862 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
$207.6K $26.40/SF
− Vacancy
−$33.7K −$4.29/SF
EGI
$173.8K $22.11/SF
− OpEx
−$43.5K −$5.53/SF
NOI
$130.4K $16.58/SF
Area
Costa Mesa, CA
Vacancy
16.26%
Lease Rate
$26.40 /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%
$2,607,120
Cap Rate 7%
$1,862,229
Cap Rate 9%
$1,448,400
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,356 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,394 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 92626, CA
50,885
Population
20,643
Households
2.5
Avg Household Size
37
Median Age
46%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
5,246
Density / Sq Mi
$117,627
Median Household Income
$55,920
Median Earnings
$2,520
Median Rent
$1,037,700
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 units - Elevator-served workspace offers dual entrances, contemporary finishes, and flexible occupancy options.
Where is this office units located?
The property is located at 2900 Bristol Street B300 Costa Mesa, CA.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: 7,862 SF office condo occupying the entire third floor; Dual‑entry layout with elevator service; Turnkey interior buildout with modern finishes
