Value-Add Retail Center in
1140-1232 N Tustin St, Orange, CA 92867
Call to check price and availability
Multi-tenant retail center with value-add potential in Orange, California.
Type:Retail
Property size:
47,804 SFLot size:
3.46 AcresPrice / SF:
$230/SF- Added:
- Feb 12, 2026
- Days on Market:
- 134
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1140-1232 N Tustin St
General Information
- Standard status
- Active
- Size
- 47,804 SF
- Lot size
- 3.46 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing office Faris Lee Investments (562) 756-7490
Listing date Feb 12, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Faris Lee Investments
HighLights
- Value‑add opportunity with significant upside potential.
- Strategic location on Tustin Street with high visibility and traffic counts.
- Compelling basis with a low implied land value of approximately $73 per square foot.
- Strong infill demographics with a large residential population and high average household incomes.
- All leases roll within approximately three years, allowing full control over lease terms.
- Multiple points of frontage and signage opportunities.
Overview
This multi-tenant neighborhood retail center is located on a 3.46-acre site in Orange, California. The property has frontage and visibility on Tustin Street, which experiences approximately 39,400 vehicles per day. It is also near the Interstate 55 corridor, which sees approximately 232,200 vehicles per day. The location provides access to surrounding residential neighborhoods and regional employment centers. The property's multiple points of frontage and signage opportunities enhance tenant branding, leasing velocity, and long-term income stability. The property is positioned for sustained tenant demand, value-add leasing, and long-term income growth. The location benefits from infill demographics and a daytime population, with approximately 168,000 residents within three miles and average household incomes exceeding $152,000, along with nearly 109,000 employees supporting weekday traffic. The property contains 47,804 square feet. All leases roll within approximately three years and carry no remaining tenant options, providing ownership full control over lease economics, tenant mix, and lease structure, including the ability to convert leases to NNN and significantly grow NOI. Inplace rents average approximately $1.33 per square foot gross versus market rents of approximately $1.75 per square foot NNN. Optionality exists to reposition the site to a higher and better use, subject to zoning and market conditions.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.03M | $21.60 |
| − Vacancy | −$67.1k | −$1.40 |
| EGI | $965.4k | $20.20 |
| − OpEx | −$289.6k | −$6.06 |
| NOI | $675.8k | $14.14 |
47,804 SF · lease $21.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$9.65M
$8.45M – $11.26M
NOI $675,815 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.28M
$15.12M – $20.16M
NOI $1,209,755 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Coinstar Kiosk | Bitcoin ATM — Stater Bros, 1800 E Collins Ave, Orange, CA 92867
- Palm Center — 941 N Tustin St, Orange, CA 92867
- Tustin Katella Shopping Center — 1520-1634 E Katella Ave, Orange, CA 92867
- Lomita Square — 821 N Tustin St, Orange, CA 92867
- Coinstar Kiosk | Bitcoin ATM — Albertsons, 940 N Tustin Ave, Orange, CA 92867
Location Insight
- Map
- Local Demand
- City
- Orange
- County
- Orange
- State
- California
- Longitude
- -117.8360319
- Latitude
- 33.8070337
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Multi-tenant retail center with value-add potential in Orange, California.
Where is this shopping center located?
The property is located at 1140-1232 N Tustin St Orange, CA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Value‑add opportunity with significant upside potential.; Strategic location on Tustin Street with high visibility and traffic counts.; Compelling basis with a low implied land value of approximately $73 per square foot.
