1815 E Heim Ave
Orange, CA 92865
1815 E. Heim Avenue · Office Property For Sale

This is a rare opportunity for an investor or owner-user to acquire a cash flowing value-add freeway visible office building located walking distance from The Village Shopping Center and within an emerging and highly demanded E. Orange office market. Offering immediate freeway access, this office building is only 8.4% occupied to a month to month tenant after the recent departure of the major tenant. Additional revenue of $60,242 emanates from a cell tower and freeway sign that are leased to Sprint and the Villa Ford Dealership across the street for 7.5 and 9 years respectively. The revenue accounts for 34% of projected NOI or would easily cover debt service on the building. Valued at an 8% cap rate, the residual value allocated to the building provides a low cost basis of just $135 per square foot. The second story offers an outdoors open air courtyard/common area that would provide a great amenity for a small single user. Tuck under parking and two exterior stairwells provide a separation between the 8,469 sf second floor and the 2,273 sf first floor suite enabling an ideal partial owner user property as well. The location of the property not only offers freeway visibility for a potential user but also provides immediate nearby access to the 55 South Freeway and multiple retail developments within walking distance.