Yorba Linda is a typical suburban city, which is within reach of Downtown Los Angeles and is found in Orange County, California. Yorba Linda is the birthplace of former President Richard Nixon, although he had already relocated before the city was incorporated. Nevertheless, the former U.S. president continues to be remembered through the Richard Nixon Presidential Library and Museum. The city is also home to Savi Ranch, a huge commercial district, as well as various other shopping centers. Furthermore, 1,000 physical businesses operate within the city, as well as a further 1,500 business enterprises operating out of residential homes. As such, it is a city which has a very low level of unemployment and it is becoming increasingly affluent. Additionally, it is one that is of particular interest to commercial real estate investors.
Yorba Linda Office Buildings for Sale & Lease – Should You Buy or Lease?
If you are interested in office space in Yorba Linda, be that as an investment or to run a business out of, you have two choices: buy or lease. There are pros and cons for both so let us take a look.
The advantages of buying office space include the fact that:
- Your monthly costs will remain fixed because amortizations do not change during the duration of the mortgage.
- You can get really good tax deductions, including property taxes and mortgage interests.
- You can rent out some of the office space, which means you can have an extra cash inflow stream.
- You get to benefit from the tendency of office properties to increase in value over time.
Meanwhile, the disadvantages of buying office space include the fact that:
- Your flexibility is limited. This is because you will need to sell the office space first if you need to relocate in the event that you business has to shut down or if it grows at a rate that has not been anticipated.
- You have high upfront costs, not in the least because there is a 30% down payment on the mortgage. You will also have to pay for maintenance, appraisal, and other property costs.
On the other hand, if you lease office space, the benefits include the fact that:
- It is possible to lease prime office space, which can do wonders for your reputation.
- You have working capital because you don’t have to pay for a down payment.
- You can focus on running your business. You don’t have to worry about the usual problems that come with property ownership.
In terms of the disadvantages of leasing office space, these include the fact that:
- Your monthly costs will likely rise because rent tends to increase.
- You do not build up any equity in the property, since you don’t own it.
To help choose between the two options, being aware of the trends and statistics in terms of prices, supply, and demand, can be helpful.
Yorba Linda Office Space for Sale – Trends and Statistics
- The average office property asking price, sale trends, in dollars per square foot for the county was $311.66, a three month decrease of 0.2%, but year-on-year increase of 11.3%. This is lower than the metro area ($317.28), but higher than the state ($226.32).
- The index of total dollars available for office spaces for sale in the metro area that includes Yorba Linda is 34, which is a 6% increase over the past three months, but a 3.7% decrease year-on-year.
- The index of total number of listings of office properties for sale in the metro area that includes Yorba Linda is 35, which is a 5.5% increase over the past three months, but an 8.4% decrease year-on-year.
- The profile view index for office properties for sale in the metro area that includes Yorba Linda is 138, which is a 19% increase over the past three months, and a 14.5% increase year-on-year.
- The index of total square feet of available office properties for sale in the metro area that includes Yorba Linda is 36, which is a 1.8% increase over the past three months, but a 19.5% decrease year-on-year.
Yorba Linda Office Space for Lease – Trends and Statistics
- The average asking rent for office space for lease in Yorba Linda expressed in dollars per square foot per year is $24.83, which is a 1.9% increase over the past three months, and a 5% increase year-on-year. This is lower than the metro ($25.41) area, but higher than the state ($23.08) area.
- The index of total number of office spaces for lease in the metro area that includes Yorba Linda is 61, which is a 1% increase over the past three months, and a 3.1% increase year-on-year.
- The profile view index for office spaces for lease in the metro area that includes Yorba Linda is 115, which is a 49.7% decrease over the past three months, and a 28.4% decrease year-on-year.
- The index of total square feet available for office spaces for lease in the metro area that includes Yorba Linda is 58, which is a 3.7% decrease over the past three months, and a 12.4% decrease year-on-year.