Mixed-Use Property with Gated
New
For Sale
$1,599,900
502 W 17th Street, Santa Ana, CA 92706
Flexible commercial property with two existing tenants, an upper-level unit, parking, and access to major freeways.
Property Size6,150 SF
Lot Size0.22 Acres
Price / SF$260.15
Days on Market2
Property Features for 502 W 17th Street
General Information
Standard status
Active
Size
6,150 SF
Total Parking Spaces
16
Lot size
0.22 Acres
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
private fencing
gated access
Building Details
Building Size
6,150 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
L.S. Gateway Realtors
Listed By:
Katrina Pham · License #01700367
(714) 720-7075
Source:
Altamirarealty
Added: Sep 9
Last Checked: Sep 10 at 6:15AM
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 L.S. Gateway Realtors
Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 6,150 SF of building area on a 9,583 SF lot and was built in 1952. The improvements include two commercial tenant spaces, an upper-level 1,700 SF unit with three bedrooms and one bathroom, and a separate approximately 2,000 SF commercial space. The upper-level unit has new flooring, new A/C, and updated interior finishes. The larger commercial space is vacant and previously served as an import/export warehouse.
Private fencing, gated access, and 16 dedicated parking spaces support the property's commercial configuration. The site is positioned on W 17th Street in Santa Ana and offers access to the 22 and 5 freeways. Existing occupants include Best Massage and Western Union, while the vacant commercial area provides space for an owner-user or additional leasing.
Private fencing, gated access, and 16 dedicated parking spaces support the property's commercial configuration. The site is positioned on W 17th Street in Santa Ana and offers access to the 22 and 5 freeways. Existing occupants include Best Massage and Western Union, while the vacant commercial area provides space for an owner-user or additional leasing.
Key Highlights
- Approximately 6,150 SF building on a 9,583 SF lot
- 16 dedicated parking spaces with private fencing and gated access
- Two commercial tenants: Best Massage and Western Union
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
$99,722
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
6.23%
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%
$1,994,440
$2.0M
Cap Rate 7%
$1,424,600
$1.4M
Cap Rate 9%
$1,108,022
$1.1M
Market Conditions
NOI Build-Up for 6,150 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
$169.7K $27.60/SF
− Vacancy
−$10.2K −$1.66/SF
EGI
$159.6K $25.94/SF
− OpEx
−$59.8K −$9.73/SF
NOI
$99.7K $16.22/SF
Area
Santa Ana, CA
Vacancy
6.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,994,440
Cap Rate 7%
$1,424,600
Cap Rate 9%
$1,108,022
Alternative Uses
Best Use
Mixed Use
$1.42M
$1.25M – $1.66M
NOI $99,722 @ 7.0% cap · market cap 6.23%
Second Best
Retail
$1.37M
$1.20M – $1.60M
NOI $96,088 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,469 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,206
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial property with two existing tenants, an upper-level unit, parking, and access to major freeways.
Where is this mixed-use property located?
The property is located at 502 W 17th Street Santa Ana, CA.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Approximately 6,150 SF building on a 9,583 SF lot; 16 dedicated parking spaces with private fencing and gated access; Two commercial tenants: Best Massage and Western Union
