Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1st St. & Newport Ave Tustin, CA 92780

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1st St. & Newport Ave Tustin, CA 92780

    View on Map
    • Retail properties & Spaces
    • 207,525 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1st St. & Newport Ave

    Property size
    207,525 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    Larwin Square Shopping Center presents a unique investment opportunity in Orange County. This vibrant 207,525-square-foot center offers a diverse mix of retail and executive office spaces, catering to various business needs. Ten suites are available, ranging from a minimum of 363 square feet to a maximum contiguous space of 19,072 square feet, providing flexibility for businesses of all sizes. Currently, 35,799 square feet are vacant, presenting a significant opportunity for expansion or new tenancy. The center boasts a strong anchor tenant lineup including 99 Ranch Market, Crunch Fitness, and Big 5 Sporting Goods, ensuring high foot traffic and visibility. Its strategic location in Orange County offers convenient access to major transportation arteries, including the I-5 and 55 Freeways, enhancing accessibility for both employees and customers. Ample parking is available with 793 spaces to accommodate the needs of tenants and visitors. This multi-tenant property is ideal for businesses seeking a prominent location in a thriving Orange County market. The property's diverse suite sizes and strong anchor tenants make it an attractive option for a variety of businesses looking to establish or expand their presence in this desirable area. A pad opportunity is also available at the center, offering additional development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tustin
    County
    Orange
    State
    California
    Longitude
    -117.817
    Latitude
    33.7448

    Comparable in this City

    • Value Estimation
      $5,265,000
      31,956 SF

      17261 17th St

      DEPARTMENT STORE • 31,956 SF
      17261 17th St, Tustin, CA 92780-1951
      View Details
    • Value Estimation by Request
      119,640 SF

      15401-15481 Red Hill Ave

      Distribution properties • 119,640 SF
      15401-15481 Red Hill Ave, Tustin, CA 92780
      View Details
    • Value Estimation by Request

      445 C St, Unit 2

      CONDOMINIUM OFFICES
      445 C St, Tustin, CA 92780
      View Details
    • Value Estimation by Request
      13,821 SF

      17632 Blvd

      Office properties & Spaces • 13,821 SF
      17632 Blvd, Tustin, CA 92780
      View Details
    • Value Estimation by Request
      687 SF

      17662 Irvine Blvd Ste, Unit 11

      CONDOMINIUM OFFICES • 687 SF
      17662 Irvine Blvd Ste, Tustin, CA 92780-3133
      View Details
    • Value Estimation by Request

      2552 Walnut Ave Ste, Unit 140

      CONDOMINIUM OFFICES
      2552 Walnut Ave Ste, Tustin, CA 92780-6970
      View Details

    Similar Nearby for Sale

    • $140,000

      Tustin Restaurant Business Opportunity

      Turnkey restaurant with beer and wine license in downtown Tustin.
      682 El Camino Real, Tustin, CA 92780
      View Details
    • Contact for pricing
      795 SF

      Tustin Office Suite - Prime Location

      795 SF Office, Ample Parking, Low Expenses
      17671 Blvd Unit 105A, Tustin, CA 92780
      View Details
    • $2,250,000
      Pending

      Tustin Mixed-Use Commercial Building

      Two-level building with retail, office, and warehouse space.
      3045 Edinger Ave, Tustin, CA 92780
      View Details
    • $1,500,000
      1,940 SF

      Retail Space For Sale

      Retail space with 1,940 SqFt available for purchase.
      1091 Bryan Ave, Tustin, CA 92780
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Tustin Commercial Space For Lease

      Mixed-use, office, and industrial spaces available for lease in Tustin.
      15201 Woodlawn Ave, Tustin, CA 92780
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Tustin, California.
      17581 Irvine Blvd, Tustin, CA 92780
      View Details
    • Contact for pricing

      Medical/Retail Space in Tustin

      High-visibility medical/retail space in Tustin with strong demographics.
      13112 Newport Ave, Tustin, CA 92780
      View Details
    • $3 SF/Yr
      2,548 SF

      Newport Avenue Office Building

      Fully leased office building on Newport Avenue in Tustin.
      13522 Newport Ave, Tustin, CA 92780
      View Details
    • Contact for pricing

      Creative Office Space with Storage

      Two-story office space featuring storage, offices, and collaborative areas.
      15131 Woodlawn Ave, Tustin, CA 92780
      View Details
    • Contact for pricing

      Tustin Office Space For Lease

      Second floor office space available with new floor and paint.
      14471 Chambers Rd, Tustin, CA 92780
      View Details
    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.
    1st St. & Newport Ave
    Tustin, CA 92780
    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

    1st St. & Newport Ave, 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!