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Institutional Office Investment with Immediate Owner-User Opportunity and Multiple Paths to Value

$18,950,000

400 N Tustin Ave, Santa Ana, CA 92705

Active
Last Updated: 09/08/2026

125,043 sqft

Building Size

4.9 acres

Lot Area

Details:
Building Size:    125,043 sqft
Lot Area:    4.9 acres
Occupancy:    71.4%
Class:    A
Units:    34
Year Built:    1979
Floors:    4
Parking Spots:    408
Highlights:
  • OWNER/USER OPPORTUNITY. Approximately 35,709 SF is immediately available for occupancy, allowing an owner-user to establish operations at closing while benefiting from existing rental income. Scheduled lease expirations and select landlord relocation and termination rights create additional opportunities to expand occupancy over time.
  • STABLE IN-PLACE CASH FLOW. The property is 71.4% occupied by 29 tenants, generating diversified in-place income while preserving meaningful leasing upside. This combination provides immediate cash flow together with opportunities to increase value through future lease rollover and occupancy expansion.
  • MULTIPLE PATHS TO VALUE. ParkCenter 400 offers a unique combination of immediate owner-user occupancy, stable in-place cash flow, phased occupancy expansion, medical office growth potential, and long-term redevelopment optionality. Few office investments in Central Orange County provide this combination of current income, operational flexibility, and multiple paths to value.
  • MEDICAL OFFICE EXPANSION POTENTIAL. Current zoning and parking support approximately 16,500 SF of medical office use. Approximately 6,410 SF is currently leased to medical users, providing meaningful opportunity to expand medical tenancy under existing parking standards. The property's proximity to Global Medical Center, CHOC, St. Joseph Hospital, and UCI Medical Center further supports long-term medical office demand
  • LONG-TERM REDEVELOPMENT OPTIONALITY. Adjacent properties are located within the City of Santa Ana's Village Center District residential overlay, creating the potential for an assemblage of approximately 7.3 acres. Preliminary discussions indicate the City may consider extending the overlay to include ParkCenter 400 as part of a comprehensive redevelopment concept, creating meaningful long-term redevelopment optionality while existing in-place income offsets carrying costs during the ownership period.
Description:

Multiple Paths to Value

Lee & Associates ("L&A"), as exclusive advisor, is pleased to present the opportunity to acquire ParkCenter 400, a 125,043-square-foot institutional office investment situated on 4.90 acres in the heart of Central Orange County. The Property combines immediate owner-user occupancy, stable in-place cash flow, phased occupancy expansion, medical office growth potential, and long-term redevelopment optionality—providing multiple paths to value through immediate owner-user occupancy, stable in-place income, occupancy expansion, medical office growth, and long-term redevelopment optionality. Approximately 35,709 square feet is immediately available, with additional occupancy opportunities created through scheduled lease expirations over time.

Discover an outstanding investment opportunity in Central Orange County. ParkCenter 400 is ideally situated in the heart of Santa Ana, offering convenient access to major transportation routes and neighboring commercial hubs. The area is home to a thriving business community, with a diverse range of dining options, retail centers, and recreational amenities located within close proximity. Investors will appreciate the dynamic environment and robust demand for office space in this prime location. With its strategic position and vibrant surroundings, ParkCenter 400 presents a compelling opportunity for investors seeking a strong presence in the Central Orange County market.

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