Listed by Economos Dewolf
$2,970,000
Hillview Business Center
Details
Property Type Office
Sub Type Executive Office
Square Footage 9,032
Tenancy Multi
Lease Type Gross
Lease Term 4
Lease Options Two one-year
Price per SqFt $329
Year Built 1981
Year Renovated 2024
Stories 2
Investment Type Owner/User
Office | 9,032 SqFt
Marketing description
Freestanding office building built in 1981 with reception area and two stories of private offices, conference room, open area with cubicles, restrooms, and a kitchenette/employee lounge.
Owner-user opportunity for a buyer to occupy the ±4,516-SF ground floor.
The ±4,516-SF second floor is leased to a construction company through June 30, 2028, with two one-year options to extend the lease. Current rent is $7,875 Full Service Gross per month. There are 3% annual increases scheduled beginning May 1, 2025.
Investment highlights
- Office building configured for two tenants with vaulted ceilings and an abundance of natural light throughout. The ±4,516-SF ground floor is available for a user to occupy, and the second floor is leased through June 30, 2028, to a construction company.
- Owner-user opportunity – the owner currently occupies half the building but will vacate upon close of escrow which will satisfy an SBA loan requirement provided the new owner’s company pays for 51% or more of the building income.
- The layout of the building is a very functional mix of private offices, cubicles, a conference room, a lobby on each floor, and multiple restrooms.
- The dynamic location is within close-proximity to the 55, 22, and 5 Freeways, and is just one block off of the 55 Freeway. The building is also located just minutes from downtown Orange, downtown Santa Ana, and Old Town Tustin.
- Numerous restaurants and other amenities are within walking distance and within a short drive of the building, offering easily-accessible convenient services.
- Lock in your cost of occupancy with a 25-year fully-amortized 90% SBA loan, protecting against runaway lease rates. Build equity for yourself instead of a landlord.
- Priced to sell, this offering is a more attractive value compared to the sale comps on Page 14.
- Parking: Surface parking is free and in-common within Hillview Business Center.
Listing Contacts
Listed by Economos Dewolf
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