17332 Irvine Blvd Tustin, CA 92780

Property Details for 17332 Irvine Blvd

Year built

1969

Lot size

0.99 lot acres

Property size

25,592 SF

Property type

Commercial real estate

APN

401-512-01

APU

40151201

Description

This exceptional two-story office building, situated at 17332 Irvine Boulevard in Tustin, California, presents a compelling investment opportunity. The property encompasses a substantial 24,287 square feet on a one-acre lot, offering significant potential for growth and return. Constructed in 1973, the building boasts an elevator and a welcoming two-story lobby, enhancing its appeal to tenants. Its strategic location at the corner of Irvine Boulevard and Yorba Street, just east of the 55 Freeway, provides excellent visibility and accessibility. Currently, the building enjoys a 95% occupancy rate, a testament to its enduring desirability and consistent performance. Two small vacant suites, totaling 1,236 square feet, offer immediate opportunities to increase revenue. The staggered lease terms and small suite sizes contribute to the property's stability and predictable income stream. Importantly, current rental rates are below market value, presenting a significant opportunity to boost profitability. Financial projections indicate a proforma capitalization rate exceeding 8%, achievable given the high occupancy and the potential for rental increases. The absence of a homeowner's association further simplifies ownership and management. This property represents a rare chance to acquire a well-established, high-performing commercial asset in a prime Tustin location.