Office Building with On-Site
For Sale
$4,300,000
4128 W Commonwealth Ave, Fullerton, CA 92833
Flexible office property with adaptable interiors, Commonwealth Avenue exposure, and access to major regional freeways.
Property Size16,656 SF
Lot Size0.82 Acres
Price / SF$258.17
Days on Market306
Property Features for 4128 W Commonwealth Ave
General Information
Standard status
Active
Size
16,656 SF
Lot size
0.82 Acres
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
Central Air
3
62 Parking Spaces.
Building Details
Year Built
1982
Buildings
1
Building Size
16,656 SF
Listing Agency:
BD Investment Company
(949) 701-1910
Listed By:
Brady Kim · License #01994341
Source:
Xome
Added: Oct 29, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:11PM
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 BD Investment Company
Investment Insights
Based on property information with market context.
The office building at 4128 W Commonwealth Ave in Fullerton provides 16,656 square feet of interior space on a 35,619-square-foot lot. Built in 1982, the property has a flexible configuration that can accommodate open work areas alongside private offices. Central air is identified among the interior features, and the site includes 62 parking spaces.
Commonwealth Avenue frontage provides direct street exposure, while access to Interstate 91 and Interstate 5 supports regional connectivity for employees and visitors. The surrounding area includes a mix of businesses and residential neighborhoods, placing the property within an established commercial setting.
Commonwealth Avenue frontage provides direct street exposure, while access to Interstate 91 and Interstate 5 supports regional connectivity for employees and visitors. The surrounding area includes a mix of businesses and residential neighborhoods, placing the property within an established commercial setting.
Key Highlights
- 16,656 SF office building on a 35,619 SF lot
- 62 parking spaces included on site
- Flexible layout with open work areas and private offices
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
$276,165
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
6.42%
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%
$5,523,300
$5.5M
Cap Rate 7%
$3,945,214
$3.9M
Cap Rate 9%
$3,068,500
$3.1M
Market Conditions
NOI Build-Up for 16,656 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
$439.7K $26.40/SF
− Vacancy
−$71.5K −$4.29/SF
EGI
$368.2K $22.11/SF
− OpEx
−$92.1K −$5.53/SF
NOI
$276.2K $16.58/SF
Area
Fullerton, 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%
$5,523,300
Cap Rate 7%
$3,945,214
Cap Rate 9%
$3,068,500
Alternative Uses
Best Use
Office B
$3.95M
$3.45M – $4.60M
NOI $276,165 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.36M
$4.69M – $6.25M
NOI $374,915 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 92833, CA
52,598
Population
17,042
Households
3.1
Avg Household Size
39
Median Age
43%
College-Educated
88%
High-School Grad
7.7 sq mi
ZIP Area
6,831
Density / Sq Mi
$113,296
Median Household Income
$51,502
Median Earnings
$2,155
Median Rent
$844,000
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 - Flexible office property with adaptable interiors, Commonwealth Avenue exposure, and access to major regional freeways.
Where is this office building located?
The property is located at 4128 W Commonwealth Ave Fullerton, CA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 16,656 SF office building on a 35,619 SF lot; 62 parking spaces included on site; Flexible layout with open work areas and private offices
