Trust Owned 
For Lease
1 / 4
$7,110,000
412 W 4Th St, Santa Ana, CA 92701
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Property summary
AI-generated overview
This exceptional creative office space, located at 412 W 4th St, Santa Ana, CA 92701 (cross streets: 4th and Broadway), offers a unique opportunity for businesses seeking a vibrant and functional workspace. The property, part of the CRAVE/Nicholas Building, is a beautifully renovated space within a historic building (Year Built: 1910), boasting a total of 1500 suites. Currently, 1,500 square feet of contiguous space is available, divisible to a minimum of 1,000 square feet, perfect for a variety of business needs. The building features recently upgraded amenities including new flooring, LED lighting, a new HVAC system, fresh interior and exterior paint, security cameras, and electronic key access. The property is zoned for Retail/Office use (APN: 398-593-03) and is situated in Orange County, providing easy access to major transportation routes. While there is a parking structure on-site, the building does not have elevators. This prime location offers a blend of historical charm and modern convenience, making it an ideal setting for businesses seeking a unique and productive environment. The space is perfect for a single tenant or can be easily divided to accommodate multiple tenants. Inquire today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1910
Total area
5,116 SF
Lot
0.07 ac (3,038 SF)
APN
398-593-03
UPID
US09-1150039
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cinema Theater & Performing Art Venue
-
Charitable Organization Social Service Agency
-
Dental Office
-
Plumbing Service General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.11M
Owner & transaction history
since 2020
Last sale
$4.8M
6 recorded transactions
Zoning & alternative use
Top alternative use upside
Restaurant
$3.5M
+116.1%
Office building
$2.8M
+74.9%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$7.11M
Value range
$6.40M – $7.82M
±10% around blend
Estimated value / SF
$1,390 / SF
Confidence
High
8 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
80
$6.40M
blend $7.11M
$7.82M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,116 SF
Lot area
0.07 ac
Year built
1910
Stories
2
APN
398-593-03
Assessed value
$1,798,747
Annual tax
$20,034
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.34M
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.2 mi away · 6,137 SF
3.1 mi away · 5,133 SF
3.1 mi away · 5,044 SF
5.3 mi away · 3,679 SF
5.3 mi away · 3,679 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$7.11M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 72 sales
$316
+340%
Submarket 269 sales
$357
+289%
County 1456 sales
$479
+190%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $1,390/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+116%
vs current-use indication
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.75M
Move the market yield to see immediate price impact.
Value / SF
$928
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$299k
$5.99M
$4.28M
$3.33M
$333k
$6.65M
$4.75M
$3.69M
$366k
$7.32M
$5.22M
$4.06M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$3.53M
1.0 mi · Nov 2025 · $638/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$20,034
Tax year 2024
Assessed value
$1,798,747
Assessed 2024
Previous assessed
$1,798,747
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,533,445
Assessed improvement
$265,302
Applied tax rate
11.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1910
Heating
NONE
Stories
2
Total area
5,116 SF
Lot
0.07 ac (3,038 SF)
APN
398-593-03
UPID
US09-1150039
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Heating
NONE
Stories
2
Lot
0.07 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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