Office Building with In-Place
For Sale
$4,940,000
8961 Research Drive, Irvine, CA 92618
Two-story office property features modern finishes and an existing first-floor tenancy.
Property Size9,900 SF
Price / SF$498.99
Days on Market62
Property Features for 8961 Research Drive
General Information
Standard status
Active
Size
9,900 SF
Property subtype
COMMERCIAL
Site & Location
Neighborhood
Spectrum 5 Pa34
Highway Access
Yes
Additional Details
Asking Price
$4,940,000
Building Details
Building Size
9,900 SF
Year Built
2004
Buildings
1
Stories
2
Listing Agency:
Economos Dewolf, Inc.
Listed By:
Geoffrey Dewolf · License #01319312
(949) 500-6654
Source:
Velocityrealtysd
Added: Sep 1
Changed: Oct 31
Last Checked: Nov 1 at 11:52AM
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.
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Investment Insights
Based on property information with market context.
Built in 2004, this 9,900-SF office building offers a two-level configuration with modern finishes throughout. The property is suited to an owner-user seeking an established office setting with part of the building already occupied, while the second floor is scheduled to become available for occupancy on 11/1/2027.
The first floor is leased through 11/2028 and includes extension options. The property is located in Irvine, blocks from Irvine Spectrum and the 5 and 405 Freeways, placing the office near a recognized commercial district and major regional transportation routes.
The first floor is leased through 11/2028 and includes extension options. The property is located in Irvine, blocks from Irvine Spectrum and the 5 and 405 Freeways, placing the office near a recognized commercial district and major regional transportation routes.
Key Highlights
- 9,900‑SF office building constructed in 2004
- First floor leased through 11/2028 with options
- Second floor available for occupancy 11/1/2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,421
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,288,420
$3.3M
Cap Rate 7%
$2,348,871
$2.3M
Cap Rate 9%
$1,826,900
$1.8M
Market Conditions
NOI Build-Up for 9,900 SF
Gross rent
$262.5K $26.52/SF
− Vacancy
−$43.3K −$4.38/SF
EGI
$219.2K $22.14/SF
− OpEx
−$54.8K −$5.54/SF
NOI
$164.4K $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%
$3,288,420
Cap Rate 7%
$2,348,871
Cap Rate 9%
$1,826,900
Alternative Uses
Best Use
Office B
$2.35M
$2.06M – $2.74M
NOI $164,421 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,210 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,573
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
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office property features modern finishes and an existing first-floor tenancy.
Where is this office building located?
The property is located at 8961 Research Drive Irvine, CA.
What is the asking price?
The asking price for this property is $4,940,000.
What are key features of this property?
This property features: 9,900‑SF office building constructed in 2004; First floor leased through 11/2028 with options; Second floor available for occupancy 11/1/2027
