Office Condominium with Private
For Sale
$1,069,900
6-B Liberty, Aliso Viejo, CA 92656
SINGLE_FAMILY - Aliso Viejo, CA
Property Size2,223 SF
Price / SF$481.29
Days on Market125
Property Features for 6-B Liberty
General Information
Property type
Residential
Property subtype
Office
Directions
Aliso creek to liberty
Subdivision
AV - Aliso Viejo
Standard status
Active
APN
93987736
Utilities
Cooling system
Central Air
Building Details
Year built
1989
Listing Agency:
Lantern Bay Realty
(949) 661-6441
Listed By:
Mike Lovullo · License #00840789
(949) 279-5549
Added: Apr 17
Changed: Jul 10
Last Checked: Aug 19 at 5:06PM
MLS# OC26083148
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This remodeled office condominium offers turnkey interior space in a ground-floor configuration with a private +/-1,200 SF patio directly off the suite. The layout includes five private offices, a large conference room, two workstation areas, reception, a file/server room, and three separate entrances designed for flexible circulation.
Suite updates and building improvements since late 2022 include a dedicated AC unit for the sole use of Suite 145, installed in the period referenced by the seller, along with a major roof overhaul completed in December 2024 and upgraded common bathrooms in 2023. The suite also reflects more recent interior enhancements, including updated electrical/phone/data runs and added built-in conveniences. A refrigerator was added in December 2025 as noted in the seller’s remarks.
Monthly expenses are described as predictable and transparent, including building HOA dues and additional HOA amounts referenced as quarterly billing items, plus an average electricity cost figure provided in the remarks. The unit is positioned for an owner-user seeking an office-ready environment within Liberty Plaza in Aliso Viejo.
Suite updates and building improvements since late 2022 include a dedicated AC unit for the sole use of Suite 145, installed in the period referenced by the seller, along with a major roof overhaul completed in December 2024 and upgraded common bathrooms in 2023. The suite also reflects more recent interior enhancements, including updated electrical/phone/data runs and added built-in conveniences. A refrigerator was added in December 2025 as noted in the seller’s remarks.
Monthly expenses are described as predictable and transparent, including building HOA dues and additional HOA amounts referenced as quarterly billing items, plus an average electricity cost figure provided in the remarks. The unit is positioned for an owner-user seeking an office-ready environment within Liberty Plaza in Aliso Viejo.
Key Highlights
- Remodeled 2,223 SF office condominium (Suite 145) in Liberty Plaza, built in 1989 with central air
- Exclusive‑use private patio of about 1,200 SF directly off the suite for indoor‑outdoor use
- Suite layout includes 5 private offices, a large conference room, 2 workstation areas, reception, and file/server room
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
$43,715
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
4.09%
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%
$874,300
$874.3K
Cap Rate 7%
$624,500
$624.5K
Cap Rate 9%
$485,722
$485.7K
Market Conditions
NOI Build-Up for 2,223 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
$66.4K $29.88/SF
− Vacancy
−$8.1K −$3.66/SF
EGI
$58.3K $26.22/SF
− OpEx
−$14.6K −$6.55/SF
NOI
$43.7K $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 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%
$874,300
Cap Rate 7%
$624,500
Cap Rate 9%
$485,722
Alternative Uses
Best Use
Office B
$624.5K
$546.4K – $728.6K
NOI $43,715 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$746.7K
$653.3K – $871.1K
NOI $52,266 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Remodeled office suite with five private offices, conference room, and exclusive-use patio in a ground-floor Liberty Plaza unit.
Where is this office units located?
The property is located at 6-B Liberty Aliso Viejo, CA.
What is the asking price?
The asking price for this property is $1,069,900.
What are key features of this property?
This property features: Remodeled 2,223 SF office condominium (Suite 145) in Liberty Plaza, built in 1989 with central air; Exclusive‑use private patio of about 1,200 SF directly off the suite for indoor‑outdoor use; Suite layout includes 5 private offices, a large conference room, 2 workstation areas, reception, and file/server room
