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    Retail and Office Space Available Title is generated by Realmo AI

    535-581 N Commonwealth Ave, Fullerton, CA 92831

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    For Lease
    $1.85 SF/Yr $9,250/Mo (calc)

    Class A retail and office space near Cal State Fullerton.

    Type:Retail
    Property size:
    60,000 SF
    Added:
    Nov 21, 2025
    Days on Market:
    178
    Last Refresh:
    Apr 6 at 12:48 am

    Property Features for 535-581 N Commonwealth Ave

    General Information

    Standard status
    Active
    Size
    60,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 535-581 N Commonwealth Ave Contact us

    We can help!

    Listing Contact
    Cameron Irons
    Cameron Irons

    Listing agent Cameron Irons License #CalDRE #01176224

    Listing office SVN Vanguard

    Listing date Nov 21, 2025

    Source Svnvanguard

    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 SVN Vanguard

    HighLights

    • High‑traffic location at a signalized intersection, ideal for maximizing visibility and customer access.
    • Located in a midrise student apartment building with 350 units and over 1,000 residents, providing a built‑in customer base.
    • Proximity to Cal State Fullerton and Hope International University ensures consistent foot traffic and business opportunities.
    • Flexible lease terms to accommodate various business needs.
    • Competitive lease rate.
    • Located near multiple multifamily developments and student housing buildings, expanding the potential customer base.

    Overview

    Available for rent is approximately 1,930 to 5,056 square feet of Class A ground floor retail and office space. The space is located in a high-image, midrise student apartment building featuring 350 student housing units accommodating over 1,000 residents. Built in 2013, the property neighbors Cal State Fullerton and Hope International University. This location benefits from high daily foot and vehicle traffic. The property is within walking distance of multiple multifamily developments and student housing buildings. The area is supported by strong demographics, with top employers including Cal State Fullerton, St. Jude Medical Center, and Raytheon. The location offers flexible lease terms and a competitive lease rate. It is situated at a signalized intersection with heavy pedestrian and vehicle traffic and has close proximity to Cal State Fullerton, Hope University and CA-57.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fullerton
    County
    Orange
    State
    California
    Longitude
    -117.935
    Latitude
    33.8705

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    FAQs

    What type of property is this?
    Retail space - Class A retail and office space near Cal State Fullerton.
    Where is this retail space located?
    The property is located at 535-581 N Commonwealth Ave Fullerton, CA.
    What is the lease rate?
    The lease rate is $1.85 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location at a signalized intersection, ideal for maximizing visibility and customer access.; Located in a midrise student apartment building with 350 units and over 1,000 residents, providing a built‑in customer base.; Proximity to Cal State Fullerton and Hope International University ensures consistent foot traffic and business opportunities.
    (714) 446-0600
    We can help!
    Listing Contact
    Cameron Irons
    Cameron Irons
    Real Estate License ID: CalDRE #01176224
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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