It is 92% occupied with 87 parking spaces office building in a prime location in Santa Ana, CA.
Asking $3,350 000
– Current Gross is $290000 at 92% leased
– NOI Est. $229,000 – CAP 6.8%
– Newly leased 3rd floor 3 year Lease,
5 year option, 3% annual increase
Here is a very unique opportunity to purchase an office building in a prime location in Santa Ana, CA. It is 92% occupied with 87 parking spaces. Solid cash flow with upside potential. 18,930 SQF building
2024 N Broadway,
Santa Ana, CA 92706
Motivated seller, Solid cash flow. Building functions very efficiently & everything works properly.
It sits just one mile from downtown and the Ronald Reagan Federal Building and Courthouse. Close proximity to all local amenities, shopping and restaurants.
7 bathrooms/ handicap, 3 kitchens with elevator. Many individual offices can be rented as executive office $3-4/SQFT 45 parking+42 offsite parking.
Most tenants pay below market rents.
Rates in OC are expected to rise 28% over the next 5 years & is one of the top growth market.
Tenants responsible for their own janitorial, entire 3rd floor responsible for all maintenance & repairs. we also lease 42 offsite parking which tenant pays.
26 suites & 1 large suite with modified NNN Lease
Zoned commercial condo, you may divide the floors & sell as individual condos (buyer to verify)
All in all its a solid property with good income.
we are willing to assist buyer anyway we can.