Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Tustin Office Building For Lease Title is generated by Realmo AI

    535 East 1st Street, Tustin, CA 92780

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.50 SF/Yr $1,326/Mo (calc)

    Two-story office building near Old Town Tustin with ample parking.

    Type:Office
    Property size:
    10,610 SF
    Added:
    Nov 22, 2025
    Days on Market:
    183
    Last Refresh:
    May 20 at 12:26 am

    Property Features for 535 East 1st Street

    General Information

    Standard status
    Active
    Size
    10,610 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Taylor Friend
    Taylor Friend

    Listing agent Taylor Friend License #01885394

    Listing office CBRE

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE

    HighLights

    • Walking distance to Historic Old Town Tustin with restaurants, shopping, and entertainment.
    • High parking ratio: 6+:1000 with additional parking available.
    • Easy access to 5 and 55 freeways.
    • Elevator‑served two‑story office building.
    • Building and monument signage may be available.
    • Desirable Tustin address in the heart of Orange County.

    Overview

    This two-story office building, totaling approximately 20,610 square feet, is situated within walking distance of Historic Old Town Tustin. The property features a desirable Tustin address and offers a high-image environment at an economical price. It provides convenient access with free surface parking at a ratio of 6+ spaces per 1000 square feet, with additional parking potentially available. The building is elevator-served. Convenient access to the 5 and 55 freeways is available. Building signage and monument signage may be available. Located in the heart of Orange County, the freestanding building occupies a prominent corner in the middle of Old Town Tustin. The location is surrounded by a wide array of restaurants, shopping, and entertainment amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Tarun Marwaha, ... Physician Dr. Paul P. ... Physician Rai Care Center ... Medical Clinic GotZoom Association Or Organization Haynes & Associates, CPA Accounting Firm

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tustin
    County
    Orange
    State
    California
    Longitude
    -117.818
    Latitude
    33.7463

    Nearby Similar for Lease

    • $6,000/Mo
      1,388 SF

      Tustin Professional Office Space

      Stand-alone office in prime Tustin location near Irvine.
      13691 Red Hill Ave, Tustin, CA 92780
      View Details
    • $2 SF/Yr
      14,772 SF

      Two-Story Office Building For Lease

      Two-story office building with abundant natural light and surface parking.
      275 Centennial Way | Tustin, CA 92780, CA 92780
      View Details
    • $199 SF/Yr

      Tustin Office Unit For Rent

      Prime Tustin location, ideal for mailbox and physical address.
      151 N Tustin, Tustin, CA 92780
      View Details
    • $3 SF/Yr
      17,594 SF

      Medical Suites Available For Rent

      Multi-tenant medical center with suites available in Tustin, CA.
      17400 Irvine Blvd., Tustin, CA 92780
      View Details
    • $1.80 SF/Yr
      5,912 SF

      Tustin Office Space For Rent

      Office space available for lease in Tustin, California.
      15149 Woodlawn Ave, Tustin, CA 92780
      View Details
    • $2 SF/Yr
      3,640 SF

      Newport Avenue Retail/Medical Space

      Retail or medical space available for lease on Newport Avenue.
      13152 Newport Ave, Tustin, CA
      View Details
    • $2 SF/Yr
      6,123 SF

      Tustin Office Space Available

      Office space available for rent in Tustin, California.
      17851 17th St, Tustin, CA 92780
      View Details
    • $2,850/Mo

      Tustin Office Space For Rent

      Office space with reception, kitchen, and bathroom available for rent.
      130 Centennial, Tustin, CA 92780
      View Details
    • $1.70 SF/Yr
      11,370 SF

      Tustin Warehouse with Truck Well

      Industrial warehouse space available for sublease through July 2029.
      Franklin Ave 14751, Tustin, CA
      View Details
    • Contact for pricing

      Retail Center in Tustin, CA

      Retail spaces in a high-income Orange County neighborhood.
      14511-14601 Red Hill Avenue, Tustin, CA 92780
      View Details
    • Contact for pricing
      3,797 SF

      Conveniently Located Office Building

      Two-story office building near major freeways and John Wayne Airport.
      15991 Red Hill Avenue, Tustin, CA, 92780
      View Details
    • Contact for pricing
      311,770 SF

      Freeway Frontage Industrial Buildings

      Two Class A industrial buildings with freeway frontage available for lease.
      1101 Bell & 1101 Valencia Avenue, Tustin, CA, 92780
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building near Old Town Tustin with ample parking.
    Where is this office building located?
    The property is located at 535 East 1st Street Tustin, CA.
    What is the lease rate?
    The lease rate is $1.50 SF/Yr.
    What are key features of this property?
    This property features: Walking distance to Historic Old Town Tustin with restaurants, shopping, and entertainment.; High parking ratio: **6+:1000 with additional parking available.**; Easy access to 5 and 55 freeways.
    (714) 371-9241
    We can help!
    Listing Contact
    Taylor Friend
    Taylor Friend
    Real Estate License ID: 01885394
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    535 East 1st Street, Tustin, CA, 92780
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!