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    2070 Tustin Ave Santa Ana, CA 92705

    Sponsored
    For Sale
    $3,425,000

    9,032 SF Office, Owner-User Opportunity

    Property size:
    9,032 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This two-story, 9,032 square foot freestanding office building in Santa Ana, CA presents a unique owner-user opportunity. Located at 2070 N Tustin Ave, this property boasts a prime location near the 55, 5, and 22 freeways, offering easy access to major transportation routes and numerous nearby amenities. Built in 1981 and renovated in 2024, the building features a functional layout including a reception area, private offices, a conference room, open areas with cubicles, restrooms, and a kitchenette/employee lounge. The ground floor, approximately 4,016 square feet, is currently available for an owner-occupant, while the second floor (also approximately 4,016 square feet) is leased to a construction company through June 30, 2028, with two one-year lease options. The current monthly rent for the second floor is $7,875 gross, with a scheduled rent abatement in March 2025 and 3% annual increases starting May 1, 2025. The asking price is $3,425,000 ($379 per square foot). This property offers a compelling investment opportunity, allowing a buyer to lock in their occupancy costs and build equity. The building's configuration, with its vaulted ceilings and abundant natural light, makes it an attractive space for a variety of businesses. The prominent location on N Tustin Ave provides excellent visibility and signage opportunities. This sale satisfies an SBA loan requirement provided the new owner's company pays for 51% or more of the building income. A 25-year fully amortized 90% SBA loan is possible.

    Property Features for 2070 Tustin Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    9,032 SF

    Building Details

    Year Built/Renovated
    1981/2024

    HighLights

    • Two‑story, 9,032‑sf office building with ±4,016‑sf ground floor available; second floor leased to June 30, 2028.
    • Owner‑user opportunity; owner will vacate upon close of escrow, satisfying SBA loan requirements with 51%+ building income from new owner.
    • Functional layout with private offices, cubicles, conference room, and multiple restrooms on each floor.
    • Excellent location, one block from the 55 Freeway, minutes from downtown Orange, Santa Ana, and Old Town Tustin, with easy access to the 5 and 22 Freeways.
    • Abundant nearby restaurants and amenities.
    • Secure your occupancy costs with a 25‑year, 90% SBA loan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brad Calvin Attorney Anderson & Anderson Insurance Attorney Chambers & Noronha Attorney Isais & Pfeiffer LLP Attorney Calvin Bradford Lawyer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Ana
    County
    Orange
    State
    California
    Longitude
    -117.8361111
    Latitude
    33.7637007

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    FAQs

    What type of property is this?
    Office Property / Space - 9,032 SF Office, Owner-User Opportunity
    Where is this office property / space located?
    The property is located at 2070 Tustin Ave Santa Ana, CA.
    What is the asking price?
    The asking price for this property is $3,425,000.
    What are key features of this property?
    This property features: Two-story, 9,032-sf office building with ±4,016-sf ground floor available; second floor leased to June 30, 2028.; Owner-user opportunity; owner will vacate upon close of escrow, satisfying SBA loan requirements with 51%+ building income from new owner.; Functional layout with private offices, cubicles, conference room, and multiple restrooms on each floor.
    Request Owner's contact information
    2070 Tustin Ave Santa Ana, CA 92705
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2070 Tustin Ave Santa Ana, CA 92705
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