8
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$5,995,000
Est. payment /mo
24,287 SqFt
Active
17332 Irvine Blvd Tustin, CA 92780
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UPDATED:
04/04/2024 09:26 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 24,287 sqft
Price per Sqft $246
MLS Listing ID 24-376525
Year Built 1973
Lot Size 1.000 Acres
Acres 1.0
Property Description
17332 Irvine Blvd, Tustin, CA 92780. Two-story 24,287-square-foot, elevator-served office building built in 1973 on an approximate 1.0-acre parcel with no association. The building is 95% occupied with two small vacant suites totaling 1,236 square feet. Premier office building with welcoming two-story lobby just east of the 55 Freeway on the corner of Irvine Blvd and Yorba St. Current occupancy is 95% which is typical as this building has historically enjoyed very high occupancy. With small suites and staggered lease terms, this asset should continue to provide reliable, solid income. Current rents are well below market. Market rents will generate a proforma cap rate over 8.0% (see Page 18). This should be very achievable given the high current occupancy and small tenant sizes.
Location
State CA
County Orange
Area Tustin
Exterior
Garage Spaces 75.0
Building
Story 2
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Economos Dewolf, Inc.