Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    62 Corporate Park Irvine, CA 92606-3122

    • Commercial real estate
    • 32,193 SF
    • 2.46 lot acres
    OFF-MARKET
    Value Estimations
    $7,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0600447
    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.

    Current Use by Public Records

    • Smile Back Dental Group / Dental Office
    • Dr. Shahnaz Bonyanpoor, DDS / Dental Office
    • Dermatologist / Physician / Medical Clinic
    • oc dental specialties / Dental Office
    • OH Sang Duk DDS PhD / Dental Office

    Property Details for 62 Corporate Park

    Year built
    1986
    Lot size
    2.46 lot acres
    Property size
    32,193 SF
    Property type
    Commercial real estate
    APN
    435-183-05
    APU
    43518305

    Description

    Barranca Medical Plaza, a two-story, 30,000 square foot Class A medical office building, presents a unique opportunity in Irvine, CA. Strategically located at 62 Corporate Park, 92606, this property boasts excellent freeway access (5, 55, and 405 freeways), placing it within a 15-minute drive of 1.2 million patients and a 5-mile radius of 556,000 patients. The building features a two-story atrium lobby, abundant surface parking, an elevator, and recently upgraded common areas. Professionally managed, Barranca Medical Plaza has served as a medical destination for over two decades and benefits from the ongoing growth in the area. Currently, Suite 130 (1,682 square feet) is available for lease, starting March 2025, at a rate of $4.50 per square foot on a Full Service Gross (FSG) lease. This suite includes four exam rooms, a doctor's office, break room, reception/administrative area, in-suite restroom, and storage. Detailed floor plans and virtual tours are available online. The building's proximity to Hoag Irvine, Hoag Newport Beach, and Orange County Global Medical Center further enhances its appeal. This is an exceptional opportunity to establish or expand a medical practice in a thriving, high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,145,000
      6.5%
      $7,520,000
      7%
      $6,980,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $11,305,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Irvine
    County
    Orange
    State
    California
    Longitude
    -117.825
    Latitude
    33.6916
    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
    $158,087
    $9,996,000
    $5,100,000
    $15,096,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5.08 Acres

      2855 Michelle

      COMMERCIAL (GENERAL) • 5.08 Acres
      2855 Michelle, Irvine, CA 92606-1023
      View Details
    • Value Estimation by Request
      3.53 Acres

      1600 Barranca Pkwy

      COMMERCIAL (GENERAL) • 3.53 Acres
      1600 Barranca Pkwy, Irvine, CA 92606-4823
      View Details
    • Value Estimation
      $520,000
      3.38 Acres

      2692 Beckman Ave

      COMMERCIAL (GENERAL) • 3.38 Acres
      2692 Beckman Ave, Irvine, CA 92606-5101
      View Details
    • Value Estimation by Request

      3700 Chaparral Ave

      COMMERCIAL (GENERAL)
      3700 Chaparral Ave, Irvine, CA 92606-2106
      View Details
    • Value Estimation by Request

      3700 Chaparral Ave

      COMMERCIAL (GENERAL)
      3700 Chaparral Ave, Irvine, CA 92606-2106
      View Details
    • Value Estimation
      $1,920,000
      14,310 SF

      16841 Millikan Ave

      COMMERCIAL (GENERAL) • 14,310 SF
      16841 Millikan Ave, Irvine, CA 92606-5011
      View Details

    Similar Nearby for Sale

    • $8,200,000
      14,920 SF

      Freestanding Office Building in Irvine

      Two-story office building with income in Irvine's Corporate Park.
      15 Corporate Park, Irvine, CA 92606
      View Details
    • $11,900,000
      23,750 SF

      Free Standing Industrial Building

      23,750 SF industrial building with 3,600 SF office space.
      16881 Armstrong Ave, Irvine, CA 92606
      View Details
    • Contact for pricing
      13,600 SF

      Irvine Flex Building: 13,600 SF

      Prime Irvine flex space, high-power, great location.
      0 16692-A&B Hale Ave, Irvine, CA 92606
      View Details
    • $909,000
      1,443 SF

      Irvine Townhome Near Bill Barber Park

      Spacious 3-bedroom townhome in gated Irvine community, needs remodeling.
      10 Bettoni Aisle, Irvine, CA 92606
      View Details
    • $1,578,888

      Irvine Specialty Property For Sale

      Specialty property available for purchase in Irvine, California.
      3621 Myrtle St, Irvine, CA 92606
      View Details
    • $600,000
      1,261 SF

      Irvine Affordable Housing Opportunity

      Affordable housing program with income and purchase price limitations.
      1427 Abelia, Irvine, CA 92606
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      5,397 SF

      Irvine Office Space Sublease

      Sublease office space with shared common area and private office.
      200 Spectrum Center Dr, Irvine, CA 92606
      View Details
    • $2 SF/Yr
      6,873 SF

      Irvine Flex / R&D Space

      Versatile flex and R&D space in Irvine, California.
      67 Peters Canyon Rd, Irvine, CA 92606
      View Details
    • $39 SF/Yr
      7,005 SF

      Irvine Medical Office Space For Lease

      Modern Irvine medical suites, flexible space available.
      9 Corporate Park, Irvine, CA 92606
      View Details
    • $24 SF/Yr
      6,709 SF

      Irvine Office Space For Lease

      Modern Irvine Office, Multiple Suites Available
      42 Corporate Park, Irvine, CA 92606
      View Details
    • $39 SF/Yr
      58,316 SF

      Crossroads Corporate Centre, Irvine

      Medical Office Space Available in Irvine
      3500 Barranca Pkwy, Irvine, CA 92606
      View Details
    • $1.85 SF/Yr
      14,243 SF

      Irvine Flex Space Available

      Multi-tenant building with offices, conference rooms, and roll-up doors.
      2491-2493 Du Bridge Ave, Irvine, CA 92606
      View Details
    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.
    62 Corporate Park
    Irvine, CA 92606-3122
    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

    Google sign-in failed. Please try again or use another login method.