Listing provided courtesy of Geoffrey Dewolf of Economos Dewolf, Inc.. Last updated 2024-11-01 07:37:11.000000. Listing information © 2024 Sandicor.
Asking Price: $5,995,000
17332 Irvine, Tustin CA 92780
Community: 71 - Tustin
This property was built in 1973 and is priced at $5,995,000. Please see the additional details below.
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.
