Four-Story Renovated Owner-User Office
For Sale
$3,499,000
611 W Civic Center Drive, Santa Ana, CA 92701
Elevator-served, renovated four-story office building with modern interior finishes and owner-occupant flexibility.
Property Size17,597 SF
Price / SF$198.84
Days on Market430
Property Features for 611 W Civic Center Drive
General Information
Standard status
Active
Size
17,597 SF
Property subtype
Commercial
Building Details
Year Built
1963
Stories
4
Listing Agency:
Economos Dewolf,Inc.
Listed By:
Geoffrey Dewolf
(714) 497-3550
Source:
Sevengables
Added: Jun 11, 2025
Changed: Aug 9
Last Checked: Aug 9 at 9:18PM
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 Economos Dewolf,Inc.
Investment Insights
Based on property information with market context.
This four-story renovated owner-user office building features a high-image interior buildout with modern finishes and elevator service for efficient access between levels. The property is configured to accommodate an owner-occupant, with the buyer able to occupy the entire building.
Situated in downtown Santa Ana, the building is located directly across from the OC Courthouse. It is also described as being just blocks from downtown Santa Ana amenities, including dining options. A covered parking offering with a retail amenity on the ground floor supports daily convenience for occupants and visitors.
For tenants and buyers seeking a complete, professionally built-out office environment, the layout and modern finishes provide a ready-to-occupy option rather than a do-it-yourself conversion. The combination of full-building owner-occupant flexibility, elevator access, and covered parking with a ground-floor retail amenity makes the property practical for professional services and similar office users that value image, usability, and on-site convenience.
Situated in downtown Santa Ana, the building is located directly across from the OC Courthouse. It is also described as being just blocks from downtown Santa Ana amenities, including dining options. A covered parking offering with a retail amenity on the ground floor supports daily convenience for occupants and visitors.
For tenants and buyers seeking a complete, professionally built-out office environment, the layout and modern finishes provide a ready-to-occupy option rather than a do-it-yourself conversion. The combination of full-building owner-occupant flexibility, elevator access, and covered parking with a ground-floor retail amenity makes the property practical for professional services and similar office users that value image, usability, and on-site convenience.
Key Highlights
- 17,597‑SF four‑story office building built in 1963 with renovated interior buildout
- Elevator‑served building designed for an owner‑user to occupy the entire building
- Located directly across from the OC Courthouse in downtown Santa Ana
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
$285,705
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
8.17%
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%
$5,714,100
$5.7M
Cap Rate 7%
$4,081,500
$4.1M
Cap Rate 9%
$3,174,500
$3.2M
Market Conditions
NOI Build-Up for 17,597 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
$464.6K $26.40/SF
− Vacancy
−$83.6K −$4.75/SF
EGI
$380.9K $21.65/SF
− OpEx
−$95.2K −$5.41/SF
NOI
$285.7K $16.24/SF
Area
ZIP 92701
Vacancy
18.00%
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%
$5,714,100
Cap Rate 7%
$4,081,500
Cap Rate 9%
$3,174,500
Alternative Uses
Best Use
Office B
$4.08M
$3.57M – $4.76M
NOI $285,705 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.44M
$4.76M – $6.35M
NOI $381,140 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 92701, CA
48,789
Population
13,470
Households
3.6
Avg Household Size
32
Median Age
11%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
15,247
Density / Sq Mi
$68,697
Median Household Income
$33,846
Median Earnings
$1,650
Median Rent
$608,300
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 - Elevator-served, renovated four-story office building with modern interior finishes and owner-occupant flexibility.
Where is this office building located?
The property is located at 611 W Civic Center Drive Santa Ana, CA.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: 17,597‑SF four‑story office building built in 1963 with renovated interior buildout; Elevator‑served building designed for an owner‑user to occupy the entire building; Located directly across from the OC Courthouse in downtown Santa Ana
