The Waters at Creekside - Costa Mesa — Sale in Costa Mesa, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Costa Mesa, CA 92626
  • Submarket: Greater Airport Area
  • Year built: 1982

Photos

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Investment Figures

Cap rate
6.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present an opportunity to acquire a highly upgraded office building with Class A finishes. The Waters at Creekside presents investors with a rare opportunity to purchase a fully leased medical and professional office asset in one of Orange County's most accessible and established business environments. Located at 2900 Bristol Street, Building H, in Costa Mesa, California; the 12,457-square-foot, two-story office building offers stable in-place cash flow, a diversified tenant roster, and strategic freeway connectivity that supports long-term occupancy and tenant retention. The property is currently 100 percent occupied and generates annual gross rental income of $309,271, producing a Net Operating Income (NOI) of $225,947. Based on the current offering price, the asset is being offered at a 6.50 percent capitalization rate, providing investors with immediate yield from a stabilized income stream. The second floor is fully occupied by an established outpatient medical practice, providing a significant anchor tenancy and long-term demand driver. The ground floor features a diversified mix of professional and medical-related users, including financial services, insurance, psychology, and therapy tenants. This tenant composition reduces income concentration risk while creating a complementary service environment that supports occupancy stability. Situated within The Waters at Creekside office park, the property benefits from exceptional regional accessibility. The building is positioned immediately adjacent to the interchange of State Route 73 and State Route 55, providing direct access throughout Orange County and Southern California. The property's strategic location also offers convenient connections to Interstate 405 and Interstate 5 via State Route 55, making it highly accessible for employees, clients, and patients traveling from throughout the region. Costa Mesa continues to be one of Orange County's most desirable commercial marke

Market Context

This office in Costa Mesa, CA is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1982. Compare it against other office listings for sale in Costa Mesa, CA — view the full market.

As of Q1 2026, the Orange County office market showed a 19.3% vacancy rate, and rents up 4.7% year over year. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

Is the Orange County office market tightening or softening?
Vacancy is around 19.3%, with asking rents rising year over year (Q1 2026).

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