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Building Details

Stories 2

Parking Ratio 5.74 per 1,000 SF

Listing Agency: Pellego, Inc. j**@pellego.com Show Phone

Listed By: Leo Gutierrez-Torres · License #02107407 Show Phone

Source: Exprealty

Added: Apr 15 Changed: Oct 15 Last Checked: Oct 14 at 11:36PM

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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 Pellego, Inc.

Investment Insights

Based on property information with market context.

This two-story flex space contains 3,485 SF, including 2,219 SF of office area and 1,021 SF of warehouse space. The office component includes a reception area, five private offices, and a conference room, while the warehouse offers 14-foot clear height. The configuration supports a blend of administrative and storage functions within one property.

Positioned in Tustin Ave Business Park, the property has exposure to approximately 28,000 vehicles per day and access to the 91, 55, and 57 Freeways. Parking is provided at a ratio of 5.74 spaces per 1,000 SF. The property is subject to an HOA described as well maintained, and a 3D virtual tour is available for remote review.

Key Highlights

• 3,485 SF flex space with 2,219 SF of office and 1,021 SF of warehouse area
• 14‑foot clear height in the warehouse
• Two‑story layout with reception, five private offices, and a conference room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,140

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,362,800 $1.4M

Cap Rate 7%

$973,429 $973.4K

Cap Rate 9%

$757,111 $757.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,485 SF

Gross rent

$115.0K $33.00/SF

− Vacancy

−$24.2K −$6.93/SF

EGI

$90.9K $26.07/SF

− OpEx

−$22.7K −$6.52/SF

NOI

$68.1K $19.55/SF

Area

Anaheim, CA

Vacancy

21.00%

Lease Rate

$33.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,362,800

Cap Rate 7%

$973,429

Cap Rate 9%

$757,111

Alternative Uses

Best Use

Office B

$973.4K

$851.8K – $1.14M (±1% cap)

NOI $68,140 @ 7.0% cap · market cap 5.52%

Second Best

Warehouse

$781.6K

$683.9K – $911.9K (±1% cap)

NOI $54,713 @ 7.0% cap · market cap 4.43%

Theoretical Best

Office A

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,617 @ 7.0% cap · market cap 7.18%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Daycare Center Food Market (Bike/Boat/Book/etc) Store Grocery & Convenience Store Carpet & Flooring Store Catering Service

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

Lease Details

14 ft

Clear height

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

545

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 92807, CA

37,627

Population

12,985

Households

2.9

Avg Household Size

44

Median Age

47%

College-Educated

92%

High-School Grad

11.0 sq mi

ZIP Area

3,421

Density / Sq Mi

$136,089

Median Household Income

$62,020

Median Earnings

$2,959

Median Rent

$918,000

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

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Frequently Asked Questions

What type of property is this?

Flex space - Versatile commercial layout combines private offices, meeting space, and warehouse functionality within an established business park.

Where is this flex space located?

The property is located at A-1223 N Tustin Ave Anaheim, CA.

What is the asking price?

The asking price for this property is $1,235,000.

What are key features of this property?

This property features: 3,485 SF flex space with 2,219 SF of office and 1,021 SF of warehouse area; 14‑foot clear height in the warehouse; Two‑story layout with reception, five private offices, and a conference room