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701-707 W 17th St 9,212 SF 81% Leased Retail Building Santa Ana, CA 92706 $2,795,000 ($303.41/SF) 6.42% Cap Rate
Investment Highlights
- Prime Infill Location in Historic Floral Park | High-Traffic Santa Ana Corridor
- Built-In Income Growth Through Contractual Increases & CAM Recoveries
- Located in a Designated Opportunity Zone
- 100% Leased Multi-Tenant Center With Stable Income Stream
- Recent Renovations Enhance Long-Term Asset Quality
- Strong Surrounding Demographics & Central Orange County Positioning
Executive Summary
Marcus & Millichap is pleased to present a 4-Tenant Neighborhood Center at 701–707 W 17th Street in Santa Ana, a compelling infill retail investment positioned within the highly desirable Historic Floral Park neighborhood. Offered at $2,795,000 with a 6.42% cap rate, the property delivers $179,398 in NOI and is 100% occupied by a diverse mix of service-oriented tenants. The center totals ±9,212 SF on ±0.31 acres, originally built in 1955 and thoughtfully renovated in 2023, enhancing long-term functionality, curb appeal, and tenant retention.
The asset benefits from a Weighted Average Lease Term (WALT) of ±5.50 years, providing a strong balance of income stability and future upside through staggered expirations, contractual rent increases, and CAM reimbursements. Located within a designated Opportunity Zone, the property offers potential tax advantages and long-term value-creation opportunities for investors.
Strategically positioned along West 17th Street, a high-traffic neighborhood corridor with ±33,691 VPD, the center benefits from strong visibility, dense surrounding residential neighborhoods, and proximity to major Orange County employment, education, and retail hubs. The property sits minutes from Interstate 5, Santa Ana College, MainPlace Mall, and the broader central Orange County trade area.
Supported by robust infill demographics, a stable tenant mix, and a prime location within one of Orange County’s most established residential communities, this offering provides investors with a durable income stream and long-term appreciation potential in a supply-constrained market.
The asset benefits from a Weighted Average Lease Term (WALT) of ±5.50 years, providing a strong balance of income stability and future upside through staggered expirations, contractual rent increases, and CAM reimbursements. Located within a designated Opportunity Zone, the property offers potential tax advantages and long-term value-creation opportunities for investors.
Strategically positioned along West 17th Street, a high-traffic neighborhood corridor with ±33,691 VPD, the center benefits from strong visibility, dense surrounding residential neighborhoods, and proximity to major Orange County employment, education, and retail hubs. The property sits minutes from Interstate 5, Santa Ana College, MainPlace Mall, and the broader central Orange County trade area.
Supported by robust infill demographics, a stable tenant mix, and a prime location within one of Orange County’s most established residential communities, this offering provides investors with a durable income stream and long-term appreciation potential in a supply-constrained market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,212 SF
Building Class
B
Year Built
1955
Price
$2,795,000
Price Per SF
$303.41
Cap Rate
6.42%
NOI
$179,398
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.68
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
C1 - Opportunity Zone
Commercial Zoning, wide variety of uses
Parking
11 Spaces (1.19 Spaces per 1,000 SF Leased)
Frontage
136’ on W 17th St
Amenities
- Bus Line
- Corner Lot
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Barber Luis
- -
- -
- $23.40
- Triple Net
- Dec 2027
- Carrlillo Fitness
- -
- -
- -
- Triple Net
- -
- Players Choice
- Retailer
- -
- -
- -
- -
- USA People Legal Document Assistance, Inc.
- Services
- -
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Barber Luis | - | - | $23.40 | Triple Net | Dec 2027 | |
| Carrlillo Fitness | - | - | - | Triple Net | - | |
| Players Choice | Retailer | - | - | - | - | |
| USA People Legal Document Assistance, Inc. | Services | - | - | Triple Net | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Two storefront suites available individually or combined for a total of ±1,784 SF. Suites feature front and rear access, strong visibility along 17th Street, building signage opportunities, and flexible layouts suitable for a variety of retail, office, medical, or service-oriented uses. Located within an established neighborhood commercial center with convenient parking and excellent access to surrounding residential communities.
| Space | Size | Space Use | Position | Available |
| 705 & 707 | 850-1,784 SF | Office/Retail | - | Now |
705 & 707
| Size |
| 850-1,784 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
705 & 707
| Size | 850-1,784 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
Two storefront suites available individually or combined for a total of ±1,784 SF. Suites feature front and rear access, strong visibility along 17th Street, building signage opportunities, and flexible layouts suitable for a variety of retail, office, medical, or service-oriented uses. Located within an established neighborhood commercial center with convenient parking and excellent access to surrounding residential communities.
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $514,946 | |
| Land Assessment | $497,193 | Total Assessment | $1,012,139 |
Property Taxes
Parcel Numbers
Land Assessment
$497,193
Improvements Assessment
$514,946
Total Assessment
$1,012,139
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