Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    23272 Mill Creek Dr Laguna Hills, CA 92653
    Back to Search
    Property profile & analytics

    23272 Mill Creek Dr Laguna Hills, CA 92653

    View on Map
    • Showrooms
    • 29,053 SF
    • 1.62 lot acres
    For Lease
    $4,295,000
    View Listing →
    Laguna Hills Office Spaces Available For Lease
    $4,295,000
    2,300 SF

    Laguna Hills Office Spaces Available

    Office spaces available, ranging from 1 to 2,300 square feet.

    23272 & 23282 Mill Creek Drive, Laguna Hills, CA 92653
    View Listing
    Property ID
    US09-1695703
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Showrooms

    Property Details for 23272 Mill Creek Dr

    Year built
    1984
    Lot size
    1.62 lot acres
    Property size
    29,053 SF
    Property type
    Showrooms
    APN
    588-141-11
    APU
    58814111

    Description

    Spectrum Summit Plaza, located at 23272 & 23282 Mill Creek Drive in Laguna Hills, California (zip code 92653), offers exceptional office space for lease. This three-story building, situated in Orange County, boasts a total of 10,292 square feet. The property features a variety of configurations to suit diverse business needs, with spaces ranging from a minimum of 810 square feet to a maximum contiguous space of 2,389 square feet. Currently, there is 11,634 square feet of vacant space available for lease, allowing for significant flexibility in tenant build-outs. The building is equipped with elevators for convenient access to all three floors. The property is categorized as both Traditional Office and Executive Office space, catering to a wide range of businesses. Multiple tenancies are available, providing options for businesses of various sizes. This exceptional location in Laguna Hills offers easy access to major transportation routes and amenities, making it an ideal location for businesses seeking a productive and convenient work environment. The property's address is clearly identified as 23272 & 23282 Mill Creek Drive, Laguna Hills, CA 92653. Inquire today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Laguna Hills
    County
    Orange
    State
    California
    Longitude
    -117.736
    Latitude
    33.6245
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $74,597
    $4,685,503
    $2,564,497
    $7,250,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.53 Acres

      24100 Laguna Hls Mall

      SHOW ROOM, WAREHOUSE • 3.53 Acres
      24100 Laguna Hls Mall, Laguna Hills, CA 92653-3613
      View Details
    • Value Estimation
      $1,010,000
      5,309 SF

      25192 Cabot Rd

      SHOW ROOM, WAREHOUSE • 5,309 SF
      25192 Cabot Rd, Laguna Hills, CA 92653-5502
      View Details
    • Value Estimation
      $42,590,000
      0.69 Acres

      23332 Ml Crk Dr

      SHOW ROOM, WAREHOUSE • 0.69 Acres
      23332 Ml Crk Dr, Laguna Hills, CA 92653-1679
      View Details
    • Value Estimation
      $510,000
      5.22 Acres

      24903 Moulton Pkwy

      SHOW ROOM, WAREHOUSE • 5.22 Acres
      24903 Moulton Pkwy, Aliso Viejo, CA 92653-6408
      View Details
    • Value Estimation
      $18,405,000
      4.55 Acres

      Laguna Hills, CA 92653

      SHOW ROOM, WAREHOUSE • 4.55 Acres
      Laguna Hills, CA 92653
      View Details
    • Value Estimation by Request
      0.52 Acres

      23952 Avenida De La Carlota

      SHOW ROOM, WAREHOUSE • 0.52 Acres
      23952 Avenida De La Carlota, Laguna Hills, CA 92653-3119
      View Details

    Similar Nearby for Sale

    • $5,200,000

      Quick Quack Car Wash - CA

      Prime Southern CA Car Wash Investment
      0 Murrieta Hot Spg Rd, Laguna Hills, CA 92653
      View Details
    • $5,500,000
      13,500 SF

      Laguna Hills Office Building

      Office building for sale in Laguna Hills, California.
      23212 Mill Creek Dr, Laguna Hills, CA 92653
      View Details
    • $1,999,000

      Efficient Single-Story Office Building

      Single-story office building in South Orange County for sale.
      23265 South Pointe Dr, Laguna Hills, CA 92653
      View Details
    • New
      $199,000
      384 SF

      Laguna Hills Professional Office Suite

      Professional office suite for sale in Laguna Hills, California.
      23276 S Pointe Dr, Laguna Hills, CA 92653
      View Details
    • Contact for pricing

      Laguna Hills Condo with Upgrades

      One-bedroom condo in gated community with new kitchen appliances.
      25511 Indian Hill Ln, Laguna Hills, CA 92653
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in South County

      Retail space with frontage on Alicia Pkwy, Laguna Hills.
      24801 Alicia Pkwy, Laguna Hills, CA 92653
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Laguna Hills, CA.
      25381 Alicia Pkwy, Laguna Hills, CA 92653
      View Details
    • Contact for pricing

      Laguna Hills Retail Property

      Retail property in Laguna Hills, currently 100% leased.
      23502 Commerce Center Dr, Laguna Hills, CA 92653
      View Details
    • Contact for pricing
      4,962 SF

      Laguna Hills Auto Shop Space

      Auto shop space available with restrooms and loading doors.
      23512 Commerce Center Dr, Laguna Hills, CA 92653
      View Details
    • Contact for pricing

      Retail Space in Laguna Hills

      Retail spaces available in a shopping center anchored by Smart&Final.
      26534-26562 Moulton Pkwy, Laguna Hills, CA 92653
      View Details
    • Contact for pricing

      Laguna Hills Retail Shopping Center

      6.4-acre retail center in Laguna Hills, high-traffic location.
      25351-25461 Alicia Pkwy, Laguna Hills, CA 92653
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23272 Mill Creek Dr
    Laguna Hills, CA 92653
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    23272 Mill Creek Dr, Laguna Hills, CA, 92653
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!