Office for Sale in Costa Mesa, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Costa Mesa, CA 92626
  • Year built: 1975

Description

Marcus & Millichap (NYSE:MMI), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in MemorialCare at Baker (“Property”), a 100% NNN-leased medical office building totaling 9,845 square feet located at 660 Baker Street, Building A, in Costa Mesa, California. The Property is anchored by MemorialCare, an AA- (S&P) investment-grade health system, occupying approximately 73% of the building and operating a Primary Care and Urgent Care facility under the Family Care Centers Medical Group banner. The Property has been fully renovated and is delivered in “like-new” condition, featuring significant tenant capital investment by MemorialCare and a demonstrated history of lease extensions and expansions with CAS Biosciences, reinforcing long-term tenancy and income durability. The Property, located at 660 Baker Street, Building A, in the heart of the highly sought after SoBECA District. in Costa Mesa. The asset offers exceptional visibility via Bristol and Baker (±66,729 ADT), immediate access to the I-405, SR-55 & SR-73 Highways, and walkable proximity to one of Orange County’s premier concentrations of food, beverage, and daily-needs amenities. Investment Highlights: • MEMORIALCARE MEDICAL | AA- (S&P) INVESTMENT GRADE CREDIT • ENTRENCHED TENANCY WITH SIGNIFICANT TENANT INVESTMENT & TRACK RECORD OF EXTENSIONS • SECURE, PREDICTABLE CASH FLOWS WITH LIMITED NEAR-TERM ROLLOVER • COMPLETELY RENOVATED – "LIKE-NEW" MEDICAL OFFICE ASSET • IRREPLACEABLE, WALKABLE SoBECA LOCATION WITH DESTINATION AMENITIES • MARK-TO-MARKET OPPORTUNITY WITH DOWNSIDE PROTECTION

Market Context

This office in Costa Mesa, CA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1975. It has been on the market for 52 days. Compare it against other office listings for sale in Costa Mesa, CA — <a href="/search/sale/office/california/costa-mesa">view the full market</a>.

As of Q1 2026, the Orange County office market showed a 19.3% vacancy rate, and cap rates around 7.4%. Source: Consensus Q1 2026 market report.

Its 5.8% asking cap rate is below the Orange County office market average of about 7.4%, reflecting premium pricing relative to comparable assets. Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

What is the typical cap rate for office in Orange County?
About 7.4% as of Q1 2026, per Consensus.
Is the Orange County office market tightening or softening?
Vacancy is around 19.3% (Q1 2026).

Unified Estimate

Medium Confidence

$2.38/SF – $3.22/SF

Mid: $2.80/SF

Rate estimator only; cost-of-business estimate unavailable.

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