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5 Vanderbilt 17,345 SF 100% Leased Flex Building Irvine, CA 92618 $7,673,600 CAD ($442.41 CAD/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term tenant (occupied the property since 2012)
- Tenant has First Right of Refusal to Purchase the property (12 day window upon fully accepted terms—ask brokers for additional details
- Tenant has five year option to extend at FMV with no less than 3% annual increases
EXECUTIVE SUMMARY
Voit Real Estate Services is pleased to present the opportunity to acquire 5 Vanderbilt in Irvine, CA
– a single tenant freestanding industrial/R&D building consisting of approximately 17,345 square
feet on a 0.81 acres. This property is ideally located within the Irvine Spectrum submarket in Orange
County and serves as the corporate headquarters of Evolve Dental Technologies, Inc. Evolve Dental
utilizes the property for its corporate offices, research and development, and warehousing for its
KöR teeth whitening system. The KöR whitening system was developed by Rod Kurthy (original
founder of Evolve Dental), who has lectured all over the world, been featured many times in and on
covers of various medical dental journals, and is considered by many dentists one of the leading
private sector teeth whitening scientists.
The property was constructed in 1985 and features concrete-tilt up construction, approximately
11,623 square feet of high-end two story office, 21’ warehouse clearance, and an approximate
2:65:1,000 parking ratio. The roof was replaced in 2015 and various HVAC replacements/repairs
have been completed since 2017. The property offers excellent access to the 5/405 freeways,
CA-133, the CA-241 toll road, and nearby access to John Wayne (SNA) airport. Numerous retail
amenities are also in close proximity to the property, including the Irvine Spectrum Center, one of
Orange County’s premier lifestyle centers owned by the Irvine Company, which features various
dining, entertainment, and shopping options. Lastly, the property is located within a very strong
income demographic area with approximately 50.2% of households in a 5 mile radius earning at
least $150k per year.
– a single tenant freestanding industrial/R&D building consisting of approximately 17,345 square
feet on a 0.81 acres. This property is ideally located within the Irvine Spectrum submarket in Orange
County and serves as the corporate headquarters of Evolve Dental Technologies, Inc. Evolve Dental
utilizes the property for its corporate offices, research and development, and warehousing for its
KöR teeth whitening system. The KöR whitening system was developed by Rod Kurthy (original
founder of Evolve Dental), who has lectured all over the world, been featured many times in and on
covers of various medical dental journals, and is considered by many dentists one of the leading
private sector teeth whitening scientists.
The property was constructed in 1985 and features concrete-tilt up construction, approximately
11,623 square feet of high-end two story office, 21’ warehouse clearance, and an approximate
2:65:1,000 parking ratio. The roof was replaced in 2015 and various HVAC replacements/repairs
have been completed since 2017. The property offers excellent access to the 5/405 freeways,
CA-133, the CA-241 toll road, and nearby access to John Wayne (SNA) airport. Numerous retail
amenities are also in close proximity to the property, including the Irvine Spectrum Center, one of
Orange County’s premier lifestyle centers owned by the Irvine Company, which features various
dining, entertainment, and shopping options. Lastly, the property is located within a very strong
income demographic area with approximately 50.2% of households in a 5 mile radius earning at
least $150k per year.
PROPERTY FACTS
| Price | $7,673,600 CAD | Lot Size | 0.82 AC |
| Price Per SF | $442.41 CAD | Rentable Building Area | 17,345 SF |
| Sale Type | Investment NNN | No. Stories | 2 |
| Cap Rate | 5.60% | Year Built/Renovated | 1975/1985 |
| Property Type | Flex | Parking Ratio | 2.59/1,000 SF |
| Property Subtype | Light Manufacturing | Clear Ceiling Height | 20’ |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Zoning | 5.4 | ||
| Price | $7,673,600 CAD |
| Price Per SF | $442.41 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 5.60% |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | C |
| Lot Size | 0.82 AC |
| Rentable Building Area | 17,345 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1975/1985 |
| Parking Ratio | 2.59/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | 5.4 |
AMENITIES
- Property Manager on Site
- Skylights
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Evolve Dental Technologies, Inc.
- Professional, Scientific, and Technical Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Evolve Dental Technologies, Inc. | Professional, Scientific, and Technical Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 591-024-05 | Improvements Assessment | $2,090,992 CAD |
| Land Assessment | $3,018,278 CAD | Total Assessment | $5,109,270 CAD |
PROPERTY TAXES
Parcel Number
591-024-05
Land Assessment
$3,018,278 CAD
Improvements Assessment
$2,090,992 CAD
Total Assessment
$5,109,270 CAD
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