Building Details

Year Built 1988

Buildings 1

Stories 1

Tenancy Multi

Listing Agency: CBRE - Orange County

Listed By: Anthony Delorenzo · License #CA 01706686

Source: Crexi

Added: Jan 24, 2024 Changed: Oct 17 Last Checked: Oct 19 at 5:55AM

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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 CBRE - Orange County

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Investment Insights

Based on property information with market context.

This stabilized low-rise office/flex property is situated in a mid-counties campus environment. The property offers a high-image, campus-like setting within a dominant business region. The asset features lush landscaping, recent multimillion-dollar common-area upgrades, and an association lounge space. Convenient surface parking and excellent access to freeways are available. The property benefits from a high-traffic location with high-growth potential. The NNN leases provide ease of ownership. With 8,783 square feet of immediately available occupancy, the property presents an opportunity for an owner-user to occupy the vacancy and offset debt service while generating income from day one. The property contains a total of 56,175 square feet.

Key Highlights

• Strong In‑Place Cash Flow with User Potential.
• NNN leases provide ease of ownership and security.
• High‑Image, Campus‑Environment with lush landscaping and recent common‑area upgrades.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,104,669

Cap Rate

7.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$22,093,380 $22.1M

Cap Rate 7%

$15,780,986 $15.8M

Cap Rate 9%

$12,274,100 $12.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 56,175 SF

Gross rent

$1.68M $29.88/SF

− Vacancy

−$205.6K −$3.66/SF

EGI

$1.47M $26.22/SF

− OpEx

−$368.2K −$6.55/SF

NOI

$1.10M $19.66/SF

Area

Orange County, CA

Vacancy

12.25%

Lease Rate

$29.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$22,093,380

Cap Rate 7%

$15,780,986

Cap Rate 9%

$12,274,100

Alternative Uses

Best Use

Office B

$15.78M

$13.81M – $18.41M (±1% cap)

NOI $1,104,669 @ 7.0% cap · market cap 7.12%

Second Best

Flex RnD

$14.60M

$12.78M – $17.03M (±1% cap)

NOI $1,022,071 @ 7.0% cap · market cap 6.59%

Theoretical Best

Office A

$18.87M

$16.51M – $22.01M (±1% cap)

NOI $1,320,764 @ 7.0% cap · market cap 8.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Restaurant Real Estate Agency Dental Office Auto Repair Shop Spa & Massage Center Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,126

Businesses Nearby

Explore this area Business Placement

Demographics for 90623, CA

15,906

Population

5,191

Households

3.1

Avg Household Size

44

Median Age

49%

College-Educated

94%

High-School Grad

1.8 sq mi

ZIP Area

8,837

Density / Sq Mi

$112,366

Median Household Income

$59,061

Median Earnings

$2,224

Median Rent

$920,200

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Office building - Stabilized office/flex property in a campus setting with cash flow.

Where is this office building located?

The property is located at 20 Centerpointe Dr La Palma, CA.

What is the asking price?

The asking price for this property is $15,519,000.

What are key features of this property?

This property features: Strong In‑Place Cash Flow with User Potential.; NNN leases provide ease of ownership and security.; High‑Image, Campus‑Environment with lush landscaping and recent common‑area upgrades.