Building Details

Buildings 1

Tenancy Multi

Listing Agency: CBRE Show Phone

Listed By: Brian Cole · License #01770986 Show Phone

Source: Moodyscre

Added: Aug 19 Changed: Oct 4 Last Checked: Oct 12 at 10:36PM

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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 CBRE

Investment Insights

Based on property information with market context.

This 21,280-square-foot freestanding flex property offers a divisible configuration suited to a two-tenant arrangement. The interior combines private offices, collaboration areas, and open workspace, providing multiple ways to organize office and operational functions within the building.

Located at 39 Argonaut in Aliso Viejo, the property provides access to the 73 and 133 freeways. A fenced yard area is also identified as a potential site feature, subject to confirmation of availability and configuration.

Key Highlights

• 21,280 SF freestanding flex building
• Divisible layout supports a two‑tenant configuration
• Mix of private offices, collaboration areas, and open workspace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$418,466

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,369,320 $8.4M

Cap Rate 7%

$5,978,086 $6.0M

Cap Rate 9%

$4,649,622 $4.6M

Market Conditions

NOI Build-Up for 21,280 SF

Gross rent

$635.8K $29.88/SF

− Vacancy

−$77.9K −$3.66/SF

EGI

$558.0K $26.22/SF

− OpEx

−$139.5K −$6.55/SF

NOI

$418.5K $19.66/SF

Area

Orange County, CA

Vacancy

12.25%

Lease Rate

$29.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,369,320

Cap Rate 7%

$5,978,086

Cap Rate 9%

$4,649,622

Alternative Uses

Best Use

Office B

$5.98M

$5.23M – $6.97M (±1% cap)

NOI $418,466 @ 7.0% cap · market cap 4.40%

Second Best

Flex RnD

$5.53M

$4.84M – $6.45M (±1% cap)

NOI $387,177 @ 7.0% cap · market cap 4.08%

Theoretical Best

Office A

$7.15M

$6.25M – $8.34M (±1% cap)

NOI $500,327 @ 7.0% cap · market cap 5.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Restaurant Real Estate Agency Dental Office Building Supply Auto Repair Shop 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.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

822

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 92656, CA

53,473

Population

21,211

Households

2.5

Avg Household Size

39

Median Age

57%

College-Educated

96%

High-School Grad

8.0 sq mi

ZIP Area

6,684

Density / Sq Mi

$134,538

Median Household Income

$72,864

Median Earnings

$2,764

Median Rent

$849,900

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 flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Freestanding property combines private offices, collaborative areas, and open workspace in a configurable commercial layout.

Where is this flex space located?

The property is located at 39 Argonaut Aliso Viejo, CA.

What is the asking price?

The asking price for this property is $9,500,000.

What are key features of this property?

This property features: 21,280 SF freestanding flex building; Divisible layout supports a two‑tenant configuration; Mix of private offices, collaboration areas, and open workspace