Two-Story Creative Office
New
For Sale
$4,490,000
8941 Research Dr, Irvine, CA 92618
Existing second-floor income accompanies a layout that supports owner occupancy on the ground level.
Property Size7,700 SF
Price / SF$583.12
Days on Market2
Property Features for 8941 Research Dr
General Information
Standard status
Active
Size
7,700 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
high-end upgrades
glass line
building-top signage
Building Details
Building Size
7,700 SF
Year Built
2004
Buildings
1
Stories
2
Listing Agency:
Lee & Associates
Listed By:
Kylee King · License #CalDRE #02101275
(949) 790-3108
Source:
Lee-associates
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:57AM
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
Investment Insights
Based on property information with market context.
This two-level creative office property contains approximately 7,700 square feet, divided into roughly 3,850 square feet per floor. The building dates to 2004 and features an extensive glass line and availability for signage at the top of the building. Second-floor income is already established, while the ground floor can accommodate an owner-user.
The property is in Irvine Spectrum with immediate access to I-5, I-405, and State Route 133. Its two-floor configuration combines existing income on one level with potential owner occupancy on the other.
The property is in Irvine Spectrum with immediate access to I-5, I-405, and State Route 133. Its two-floor configuration combines existing income on one level with potential owner occupancy on the other.
Key Highlights
- Approximately 7,700 square feet across two floors
- Each floor contains approximately 3,850 square feet
- Second‑floor income is established; ground floor can accommodate an owner‑user
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,883
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,557,660
$2.6M
Cap Rate 7%
$1,826,900
$1.8M
Cap Rate 9%
$1,420,922
$1.4M
Market Conditions
NOI Build-Up for 7,700 SF
Gross rent
$204.2K $26.52/SF
− Vacancy
−$33.7K −$4.38/SF
EGI
$170.5K $22.14/SF
− OpEx
−$42.6K −$5.54/SF
NOI
$127.9K $16.61/SF
Area
ZIP 92618
Vacancy
16.50%
Lease Rate
$26.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,557,660
Cap Rate 7%
$1,826,900
Cap Rate 9%
$1,420,922
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.13M
NOI $127,883 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,497 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 92618, CA
57,488
Population
26,470
Households
2.2
Avg Household Size
35
Median Age
72%
College-Educated
97%
High-School Grad
20.7 sq mi
ZIP Area
2,777
Density / Sq Mi
$135,609
Median Household Income
$85,192
Median Earnings
$3,053
Median Rent
$1,153,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Existing second-floor income accompanies a layout that supports owner occupancy on the ground level.
Where is this office building located?
The property is located at 8941 Research Dr Irvine, CA.
What is the asking price?
The asking price for this property is $4,490,000.
What are key features of this property?
This property features: Approximately 7,700 square feet across two floors; Each floor contains approximately 3,850 square feet; Second‑floor income is established; ground floor can accommodate an owner‑user
