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    1888 Tustin St Orange, CA 92865

    Sponsored
    For Lease
    $25 SF/Yr

    Prime Orange County retail/office opportunity. Four spaces available.

    Lot size:
    3,090 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional commercial property, located at 1888-1998 N Tustin St, Orange, CA 92865, offers a unique blend of retail and office spaces, ideal for a variety of businesses. The property boasts high visibility on Tustin Street, benefiting from an average daily traffic count of approximately 35,200 vehicles. With a total of 280 parking spaces, ample parking is readily available for tenants and customers. The location is highly desirable, situated just half a block south of The Village at Orange, providing convenient access to a thriving retail and dining scene. Furthermore, its proximity to major freeways (the 55, 22, and 91) ensures excellent accessibility for commuters and clients. The property's strategic location also benefits from its proximity to Orange Lutheran High School (approximately 1 mile away with 1,400 students) and Chapman University (approximately 3 miles away with 7,020 undergraduates), creating a strong potential customer base. Four individual spaces are available, ranging in size from 360 square feet to 1,570 square feet, offering flexibility for businesses of various scales. The property is classified as Retail, Office, with subtypes including Traditional Office, Medical Office, Restaurant, Retail, and Drive-Thru, making it suitable for a diverse range of commercial ventures. This is a rare opportunity to secure a prime commercial space in a high-traffic, well-established area of Orange County. The property is categorized as a multi-tenant building.

    Property Features for 1888 Tustin St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,090 SF

    Unit(s) available at that property

    Space
    1944-108
    Size
    360 SF
    Rate per SF
    $27
    Space
    1944-118
    Size
    800 SF
    Rate per SF
    $25
    Space
    1940-114
    Size
    360 SF
    Rate per SF
    $27
    Space
    1936
    Size
    1,570 SF
    Rate per SF
    $30

    We can help!

    Listing Contact
    Todd Siegel
    Todd Siegel

    Learn more

    HighLights

    • 1888‑1998 N Tustin St, Orange, CA 92865: Retail and office space available in a multi‑tenant building.
    • High visibility on Tustin St with 35,200+ VPD.
    • 280 parking spaces.
    • Half block from The Village at Orange, near freeways 55, 22, & 91.
    • Four spaces available, 360‑1,570 SF; suitable for various uses (Traditional Office, Medical Office, Restaurant, Retail, Drive‑Thru).
    Property Profile Location Intelligence

    Current Use by Public Records

    Wienerschnitzel Fast Food Restaurant Sina Depot Store Expert Credit Repair Credit Counseling Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Orange
    State
    California
    Longitude
    -117.836315
    Latitude
    33.8197912

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    FAQs

    What type of property is this?
    Restaurant - Prime Orange County retail/office opportunity. Four spaces available.
    Where is this restaurant located?
    The property is located at 1888 Tustin St Orange, CA.
    What is the lease rate?
    The lease rate is $25-$30 SF/Yr.
    What are key features of this property?
    This property features: 1888-1998 N Tustin St, Orange, CA 92865: Retail and office space available in a multi-tenant building.; High visibility on Tustin St with 35,200+ VPD.; 280 parking spaces.
    Request Owner's contact information
    1888 Tustin St Orange, CA 92865
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    Orange, CA 92865
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    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
    1888 Tustin St Orange, CA 92865
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    We can help!
    Listing Contact
    Todd Siegel
    Todd Siegel
    Real Estate License ID: CA DRE #01106670
    Learn more
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