Listed by Economos Dewolf
$10,978,000
22331 El Paseo
Details
APN 814-171-07
Property Type Retail, Office
Sub Type Medical Office, church
Square Footage 22,000
Units 1
Tenancy Single
Lease Type NNN
Price per SqFt $499
Year Built 1993
Buildings 1
Stories 1
Acreage 1.670
Zoning CG
Parking Spaces 243 spaces
Parking Per SqFt 11.05
Investment Type Owner/User
Ownership Valuerock 24 RSM LLC
Retail | 22,000 SqFt
Marketing description
The building prominently sits on its own ±1.67-acre parcel with 84
parking stalls yet enjoys access to ±243 parking stalls shared with
the building next door. Liberal CG Zoning allows many uses, including medical, retail, and office (a more complete list is p. 15). A
signalized intersection, 15-foot ceilings, and 600 amps of power
round out the truly unique property details.
Plus, this is a rare opportunity that can accommodate uses that
neighboring buildings cannot. This is due to the excess parking and
no exclusivity use clauses, which the neighboring projects do have.
This is a blank canvass for a visionary company.
Investment highlights
- ±22,000-SF Owner-User Building For Sale or 1.67-Acre Covered Land Play
- Sale price $10,978,000 (±$499/sf)
- Medical, retail, and office uses permitted per the CG zoning
- Prime 1.67-acre corner lot with incredible street presence
- Excess shared parking and no exclusivity clauses
- Dynamic RSM location surrounded by institutional quality retail
- Turn business income into real estate income sheltered by depreciation
- Best-in-class amenities within walking distance
- Dynamic Location in the Heart of Rancho Santa Margarita Near the 241 Toll Road
- Institutional Quality Retail in the Immediate Vicinity
- Over 6,700 Homes Between the Three Affluent Communities
- Single-Story Freestanding Building on a Signalized Corner Lot
- Within Walking Distance of Class-A Amenities
- Surrounded by High Volume Retail Centers
- Available for the first time in over 20 years, this is a Spanish-style jewel with incredible presence at a signalized intersection in the heart of Rancho Santa Margarita.
- Offered at just $499/SF, it’s substantially below replacement cost estimated at $750-$900/SF
- Extremely rare situation to accommodate many uses, such as medical, office, retail and others per the CG Zoning and shared parking agreement (see p. 16).
- A buyer can collect rent for a year before moving in and then benefit from long-term appreciation and controlled occupancy costs.
- There is potential to increase the square footage and create an outdoor dining or play area, which can be seen on Pages 15.
- A truly walkable location with restaurants, coffee, boutiques, wine bar: dining and shopping just steps away.
- Not only far below replacement cost, this offering is also a clear value compared to sale comps described on Page 14.
- Convert business income to real estate income sheltered by depreciation (example on Page 18).
- A cost segregation study can reclassify 12–25% of its basis into short-life assets that qualify for 100% bonus depreciation, reinstated by the One Big Beautiful Bill Act (effective for property placed in service after Jan 19, 2025). This lets an investor immediately expense those components in year one, often generating substantial federal tax savings and stronger early cash flow
Listing Contacts
Listed by Economos Dewolf
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