Industrial Condo with Office
For Sale
$2,610,000
622 N Eckhoff St, Orange, CA 92868
Industrial condo offers 4,000 SF warehouse with 2,000 SF improved office space and a 12' x 14' grade-level door.
Property Size6,000 SF
Days on Market51
Property Features for 622 N Eckhoff St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Industrial
Building Details
Building Size
6,000 SF
Year Built
1965
Listing Agency:
Lee & Associates - Irvine
(949) 790-3144
Listed By:
BJ Fell · License #CalDRE #01929179
Source:
Lee-associates
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 29 at 7:00AM
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 Lee & Associates - Irvine
Investment Insights
Based on property information with market context.
This 6,000-square-foot industrial condo offers a practical split between 4,000 SF of warehouse space and 2,000 SF of improved office space. The office area includes a reception area, conference room, three private offices, open office, and a break room, supporting an owner-user setup that keeps administration and operations under one roof.
Warehouse height includes 16' minimum clear, and the unit is equipped with one grade-level door measuring 12' x 14'. The property also includes 600 amps of power and is fire sprinklered, providing core building systems for industrial use.
With its clear height, grade-level loading, and dedicated office buildout, this condo is positioned for tenants or buyers looking for integrated warehouse and office space within a single unit.
Warehouse height includes 16' minimum clear, and the unit is equipped with one grade-level door measuring 12' x 14'. The property also includes 600 amps of power and is fire sprinklered, providing core building systems for industrial use.
With its clear height, grade-level loading, and dedicated office buildout, this condo is positioned for tenants or buyers looking for integrated warehouse and office space within a single unit.
Key Highlights
- 6,000 SF industrial condo with functional split between 4,000 SF warehouse and 2,000 SF improved office space
- Improved office includes reception, conference room, three private offices, open office, and break room
- 16' minimum clear height and 1 grade‑level door (12' x 14')
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
$110,873
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
4.25%
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%
$2,217,460
$2.2M
Cap Rate 7%
$1,583,900
$1.6M
Cap Rate 9%
$1,231,922
$1.2M
Market Conditions
NOI Build-Up for 6,000 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
$169.9K $28.32/SF
− Vacancy
−$22.1K −$3.68/SF
EGI
$147.8K $24.64/SF
− OpEx
−$37.0K −$6.16/SF
NOI
$110.9K $18.48/SF
Area
Orange, CA
Vacancy
13.00%
Lease Rate
$28.32 /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%
$2,217,460
Cap Rate 7%
$1,583,900
Cap Rate 9%
$1,231,922
Alternative Uses
Best Use
Office B
$1.58M
$1.39M – $1.85M
NOI $110,873 @ 7.0% cap · market cap 4.25%
Second Best
Warehouse
$1.35M
$1.18M – $1.57M
NOI $94,187 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,839 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,224
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92868, CA
27,127
Population
9,105
Households
3
Avg Household Size
34
Median Age
36%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,979
Density / Sq Mi
$89,050
Median Household Income
$45,978
Median Earnings
$2,356
Median Rent
$714,300
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?
Flex space - Industrial condo offers 4,000 SF warehouse with 2,000 SF improved office space and a 12' x 14' grade-level door.
Where is this flex space located?
The property is located at 622 N Eckhoff St Orange, CA.
What is the asking price?
The asking price for this property is $2,610,000.
What are key features of this property?
This property features: 6,000 SF industrial condo with functional split between 4,000 SF warehouse and 2,000 SF improved office space; Improved office includes reception, conference room, three private offices, open office, and break room; 16' minimum clear height and 1 grade‑level door (12' x 14')
