Investment Overview

Marcus & Millichap is pleased to present an exceptional investment opportunity to acquire a fully renovated, ±95,831-square-foot, multi-tenant medical and professional office building in the highly sought-after Santa Ana, California market. This four-story, atrium-style office building, situated on ±2.10 acres, offers a rare combination of prime location, modern amenities, and a strong tenant base. The property includes a four-level parking structure with convenient direct access to all floors, providing approximately 320 parking spaces, making it a highly functional asset for tenants and their clients. With 20 suites and an impressive 92% occupancy rate, the building is home to a diverse mix of prominent tenants, including Optum Care Medical, Progress Medical, Geo Re-Entry, Regus Managed Offices, and others. This diverse tenant roster ensures a stable and varied income stream for investors. Strategically located at the signalized intersection of West Civic Center Drive and Flower Street, the property offers easy access to major government buildings, including the Ronald Reagan Federal Building and Courthouse, Santa Ana City Hall, the Civic Center Courthouse, Superior Justice Center, and the Orange County Sheriff’s Department—enhancing its appeal to a broad spectrum of professional and medical tenants. This property presents a compelling opportunity for investors seeking a high-quality, well-positioned asset with significant upside potential. The building offers a weighted average lease term (WALT) of 3.25 years and is priced at an attractive 7.03% capitalization rate on current rents, with pro-forma returns of 7.34% upon stabilization and filling the remaining vacancies. In addition, favorable financing options are available for qualified buyers, including a 10-year term with the first 3 years fixed and interest-only payments, which translates to a strong 9.10% cash-on-cash return. For investors looking to secure a strategically located, cash-flowing medical and professional office asset with long-term value potential, this property offers an outstanding opportunity.