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33345935
33345933

2900 Bristol Street, Costa Mesa, CA 92626

AM
CA 01845973
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County
$3,475,000
2 days on market
Updated 2 days ago

100% Occupied Stabilized Costa Mesa The Waters at Creekside

Details
Property Type Office
Sub Type Medical Office
Square Footage 12,457
Net Rentable (SqFt) 12,457
Units 4
Cap Rate 6.50%
NOI $225,947
Occupancy 100%
Tenancy Multi
Lease Type Modified
Lease Term 4
Lease Expiration 04/30/2030
Remaining Term 3.9
Pro-Forma Cap Rate 6.50%
Pro-Forma NOI $225,947
Price per SqFt $279
Class B
Year Built 1982
Year Renovated 2016
Buildings 1
Acreage 0.270
Zoning C-2
Parking Spaces per 1,000 sq ft
Investment Type Stabilized
Lease Commencement 05/01/2026
Sale Condition 1031 exchange

100% Leased Medical and Professional Office - The Waters at Creekside Costa Mesa

Marketing description

Marcus & Millichap is pleased to present an opportunity to acquire a highly upgraded office building with Class A finishes. The Waters at Creekside presents investors with a rare opportunity to purchase a fully leased medical and professional office asset in one of Orange County's most accessible and established business environments. Located at 2900 Bristol Street, Building H, in Costa Mesa, California; the 12,457-square-foot, two-story office building offers stable in-place cash flow, a diversified tenant roster, and strategic freeway connectivity that supports long-term occupancy and tenant retention.

The property is currently 100 percent occupied and generates annual gross rental income of $309,271, producing a Net Operating Income (NOI) of $225,947. Based on the current offering price, the asset is being offered at a 6.50 percent capitalization rate, providing investors with immediate yield from a stabilized income stream.

The second floor is fully occupied by an established outpatient medical practice, providing a significant anchor tenancy and long-term demand driver. The ground floor features a diversified mix of professional and medical-related users, including financial services, insurance, psychology, and therapy tenants. This tenant composition reduces income concentration risk while creating a complementary service environment that supports occupancy stability.

Situated within The Waters at Creekside office park, the property benefits from exceptional regional accessibility. The building is positioned immediately adjacent to the interchange of State Route 73 and State Route 55, providing direct access throughout Orange County and Southern California. The property's strategic location also offers convenient connections to Interstate 405 and Interstate 5 via State Route 55, making it highly accessible for employees, clients, and patients traveling from throughout the region.

Costa Mesa continues to be one of Orange County's most desirable commercial markets, benefiting from a diverse economic base, affluent demographics, and proximity to major employment centers. The property is located near South Coast Plaza, John Wayne Airport, Newport Beach, Irvine, and numerous healthcare, professional services, and corporate employers. These market fundamentals support sustained demand for quality medical and professional office space.

This investment opportunity is ideal for private investors, family offices, 1031 exchange buyers, and professional office investors seeking a stabilized, income-producing asset in Southern California's most established office markets.

Investment highlights

Fully Occupied Stabilized Income-Producing Asset Offered at an Attractive 6.50% Capitalization Rate

Approximately 12,457-SF Property with Well-Diversified Tenant Mix Including Medical, Financial, Insurance, and Therapy Providers

Priced at Only $279 Price Per Square Foot for a Highly Upgraded Medical Professional Office Building in Costa Mesa

Premier Freeway-Accessible Location Positioned at the Interchange of SR-73 and SR-55 with Direct Access to I-405 and I-5

Desirable Orange County Medical and Professional Office Market in the Heart of Costa Mesa near South Coast Plaza, John Wayne Airport, Newport Beach, and Irvine

Property Location Benefits from Strong Demographics, a Highly Educated Workforce, and Sustained Demand for Professional and Healthcare Services

Listing Contacts

AM
CA 01845973
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$225,947.00
$18,828.92/mo

Valuation Metrics

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DSCR
6.5%
Cap Rate
6.5%
ROI

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Additional Information

Name
Alex Mobin
License
01845973
Brokerage Phone
9494193276
Brokerage Address
19800 Macarthur Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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