100% Leased Industrial/Office Condominium | 4,790 SF | Costa Mesa, CA

Asking price: 51 BTC

Asset Type: Industrial/Office Condominium

2026 NOI: $197,100 2027 Projected NOI: $206,955

Location: 3505 Cadillac Avenue, Units N-1 & N-2, Costa Mesa, CA 92626

Property Overview:

• The Asset: A two-story industrial/office condominium unit comprising 4,790 square feet of gross leasable area, situated on a 0.08-acre (3,373-square foot) footprint.

• The Location: Positioned within the Cambridge Park development on the west side of Cadillac Avenue. The hard corner location and direct frontage provide excellent commercial exposure and access to major Orange County trade arterials.

• The Tenancy: 100% occupied by two cannabis-related businesses. The asset benefits from a trapped inventory dynamic, providing highly reliable occupancy and consistent rent expansion.  Larger Tenant lease through December 2029. 2nd Tenant lease through March 2028 (3 year lease extension built into original lease with a 5% annual increase). Both tenants are open to lease extensions.

• Financial Trajectory: Asset generates $197,100 in 2026, scaling to $206,955 in 2027, providing a stable, inflation-resistant yield curve.

• Physical Condition: Built in 1983 and maintained in average condition. The unit benefits from common area surface parking provided by the larger Cambridge Park development.

• Market Context: Located in a mature trade area with virtually no available vacant land for new competing development, creating a highly constrained supply bottleneck.