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    27101 Puerta Real Mission Viejo, CA 92691-8518
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    Property profile & analytics

    27101 Puerta Real, Mission Viejo, CA 92691-8518

    View on Map
    • Showrooms
    • 0.64 lot acres
    Off-Market
    Last Sale Mar 31, 2025
    $32,000,000
    Property ID
    US09-3929283
    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
    $32,000,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Showrooms

    Property Details for 27101 Puerta Real

    Lot size
    0.64 lot acres
    Property type
    Showrooms
    APN
    761-111-20
    APU
    76111120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 22, 2022 — Metlife Commercial Mtg Originator Tr Mission Ridge LLC Assignment Of Deed —
    Aug 21, 2013 — Trust Mission Ridge LLC Mission Ridge Associates LLC Quit Claim Deed —
    Jun 11, 2003 — Mission Ridge Assoc LLC — Deed Of Trust · related $20.1M · Nationwide Life Insurance Co
    May 14, 2003 — W9/trr Real Estate Ltd Partner Mission Viejo City (ca) Quit Claim Deed · related —

    Description

    This exceptional Mission Viejo office complex presents a compelling investment or owner-user opportunity. Comprising two four-story buildings totaling 233,531 rentable square feet on a 10.3-acre lot, this property boasts 929 parking spaces and enjoys a prime location directly adjacent to the Interstate 5 Freeway, providing unparalleled visibility and signage opportunities with approximately 310,956 vehicles passing daily. Substantially renovated in 2021, the property features updated lobbies, restrooms, wayfinding, exterior signage, a new conference center, tenant lounge, and a refreshed fitness facility. Currently at 49.8% occupancy, there is significant potential for increased revenue. The property benefits from its proximity to numerous amenities, including The Kaleidoscope, The Shops at Mission Viejo, The Center at Rancho Niguel, Puerta Real Plaza, College Center, Providence Mission Hospital, and Saddleback College. Built in 2001, this multi-tenant property offers 116,788 square feet of immediately available space, making it ideal for both value-add investors and owner-users. The property's location in Orange County, known for its strong economy, high-quality workforce, and desirable lifestyle, further enhances its investment appeal. The property is offered free and clear of any existing financing, on an "as-is, where-is" basis. The substantial freeway frontage and proximity to Providence Mission Hospital present attractive upside potential, including possible medical conversion.

    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
    Mission Viejo
    County
    Orange
    State
    California
    Longitude
    -117.671
    Latitude
    33.5684
    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
    $52,303
    $961,460
    $4,206,391
    $5,167,851
    -
    $0.00
    $0.00
    $0.00

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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.

    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.

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