Two-Story Office
New
For Sale
$5,900,000
777 W 19th St, Costa Mesa, CA 92627
C1-zoned office property with surface parking and access to CA-55 and Pacific Coast Highway.
Property Size11,316 SF
Lot Size0.77 Acres
Price / SF$521.39
Days on Market2
Property Features for 777 W 19th St
General Information
Standard status
Active
Size
11,316 SF
Total Parking Spaces
49
Lot size
0.77 Acres
Property subtype
Office
Zoning
C1
Additional Details
Asking Price
$5,900,000
Highway Access
Yes
Amenities
Prime Location - Ideally located on West 19th Street in the Heart of Costa Mesa , just minutes from Newport Beach with over 21,000 vehicles per day
Zoning & Development Potential - C1 Zoning Allows Broad Use Flexibility which allows for professional office, retail, mixed-use, hospitality, and can acquire a CUP for Cannabis
Neighborhood Appeal - Located near the Costa Mesa - Newport Beach Boarder in a Dense, High-Demand Area
Transit & Accessibility - Immediate Access to CA-55 Freeway, connecting to I-405, SR-73, I-5, and Highway-1
Building Details
Building Size
11,316 SF
Year Built
1986
Buildings
1
Stories
2
Listing Agency:
Marcus & Millichap - Orange County
Listed By:
Alex Mobin · License #License(s): CA: 01845973, NV: S.0199954
(949) 419-3276
Source:
Marcusmillichap
Added: Sep 24
Last Checked: Sep 24 at 2:26PM
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 Marcus & Millichap - Orange County
Investment Insights
Based on property information with market context.
The property is a two-story office building on a 0.77-acre parcel, with 49 surface parking spaces. Built in 1986, it is zoned C1 (Local Business District), and the site is described as suitable for office, retail, mixed-use, or hospitality purposes.
At 777 W 19th St in Costa Mesa, the building fronts a corridor carrying over 21,000 vehicles daily. CA-55 and Pacific Coast Highway provide routes through Orange County. Triangle Square, with shopping, dining, and entertainment, is a short drive away; nearby businesses include fitness centers and boutique retail.
At 777 W 19th St in Costa Mesa, the building fronts a corridor carrying over 21,000 vehicles daily. CA-55 and Pacific Coast Highway provide routes through Orange County. Triangle Square, with shopping, dining, and entertainment, is a short drive away; nearby businesses include fitness centers and boutique retail.
Key Highlights
- Two‑story office building constructed in 1986
- 0.77‑acre parcel with 49 surface parking spaces
- Zoned C1 (Local Business District)
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
$187,625
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
3.18%
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%
$3,752,500
$3.8M
Cap Rate 7%
$2,680,357
$2.7M
Cap Rate 9%
$2,084,722
$2.1M
Market Conditions
NOI Build-Up for 11,316 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
$298.7K $26.40/SF
− Vacancy
−$48.6K −$4.29/SF
EGI
$250.2K $22.11/SF
− OpEx
−$62.5K −$5.53/SF
NOI
$187.6K $16.58/SF
Area
Costa Mesa, CA
Vacancy
16.26%
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%
$3,752,500
Cap Rate 7%
$2,680,357
Cap Rate 9%
$2,084,722
Alternative Uses
Best Use
Office B
$2.68M
$2.35M – $3.13M
NOI $187,625 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,282 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 92627, CA
61,764
Population
23,286
Households
2.7
Avg Household Size
36
Median Age
42%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
9,651
Density / Sq Mi
$105,039
Median Household Income
$49,236
Median Earnings
$2,299
Median Rent
$1,074,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 building - C1-zoned office property with surface parking and access to CA-55 and Pacific Coast Highway.
Where is this office building located?
The property is located at 777 W 19th St Costa Mesa, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Two‑story office building constructed in 1986; 0.77‑acre parcel with 49 surface parking spaces; Zoned C1 (Local Business District)
