For Sale
$5,995,000

17332 Irvine BlvdTustin, CA 92780

Prime Tustin Office, High Occupancy, Strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional two-story executive office building, located at 17332 Irvine Blvd in Tustin, California, presents a compelling investment opportunity. Boasting 24,287 square feet on a one-acre lot, this Class B property offers a compelling blend of established income and significant upside potential. Built in 1973 and extensively renovated in 2017, the building features elevator service and convenient corner location at Irvine Blvd and Yorba St. Currently 95% occupied with a mix of tenants and staggered lease terms, it demonstrates a history of stable and reliable income generation. The current asking price is $5,995,000 ($247 per square foot), reflecting a 4.74% cap rate with a pro-forma cap rate of 8.13%, indicating substantial room for rent increases. Small suite sizes contribute to efficient management and leasing. The property's strategic location, just one block east of the 55 Freeway and a half-mile from Old Town Tustin, provides excellent access to major transportation arteries and a vibrant community. The ample parking (3.1 spaces per 1,000 sq ft) caters to tenant and visitor needs. This property offers a rare combination of immediate income and long-term growth potential in a highly desirable Orange County location.

Highlights

  • $5,995,000 asking price (±$247/sf), 24,287 square feet.
  • Corner location at Irvine Blvd and Yorba St, elevator service.
  • 95% occupancy, historically high occupancy rates.
  • Stable and reliable income history.
  • Small suites, staggered lease terms.
  • Below-market rents, significant upside potential.

Property Details for 17332 Irvine Blvd

Property type
Office properties
Square Feet
24,287 SF
Class
B
Year Built/Renovated
1973/2017
Stories
2
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Tustin
County
Orange
State
California
Latitude
33.7480142
Longitude
-117.8300436
17332 Irvine Blvd, Tustin, California

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17332 Irvine Blvd
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