Description

Located at 234 Street in Anaheim, Arizona (ZIP 92805), this 84,980-square-foot office campus presents a rare ground-up repositioning opportunity in a growth-oriented market. The building’s flexible layout supports a wide array of uses—including co-working, creative office, executive suites, medical office and R&D/life science—offering investors and owner-users a blank canvas to capture escalating demand for customized work environments. With 100 percent availability, a new owner can fully implement a premier tenant mix and amenity package tailored to today’s evolving workspace standards.

Priced at $345,345 (approximately $118 per square foot), this offering delivers compelling investment fundamentals. Based on a projected net operating income of $1,250,000, the property trades at a 5.25 percent stabilized cap rate, while an in-place cap rate of 6.23 percent underscores the opportunity to accelerate returns through immediate leasing. At a gross rent multiplier of 353, the asset supports a robust value-add strategy, enabling investors to drive NOI enhancement and equity growth through targeted rent escalations and occupancy improvements.

Boasting a 5.2-year weighted average lease term opportunity (WALT), the property is primed for institutional-grade positioning. Its expansive footprint accommodates large, contiguous floor plates ideal for flagship office concepts, medical practices or life science incubators seeking turnkey deployment. The full-block site and generous parking capacity further enhance the asset’s appeal to a diversified tenant base and support long-term lease stability.

Situated minutes from major transportation arteries and regional employment centers, this offering appeals to investors seeking to anchor their office portfolios with a strategically located, multi-use asset. With market rents on the rise and limited new supply in the submarket, now is the time to acquire this repositioning play with significant upside. For more information on acquisition terms and partnership opportunities, contact the listing team today.