15501 Red Hl Ave Tustin, CA 92780-7302

Property Details for 15501 Red Hl Ave

Year built

1984

Lot size

2.45 lot acres

Property size

33,084 SF

Property type

Industrial properties

APN

430-233-06

APU

43023306

Description

This exceptional 44,123 square foot industrial flex building in Tustin, CA, presents a compelling owner-user investment opportunity. Located at 15501 Red Hill Ave, this single-story, Class B property boasts a 24-foot clear height and sits on a 2.45-acre lot in the desirable Orange County market. Currently 56% occupied with two tenants under a net lease with 3% annual rent bumps, the property offers a 3.2-year remaining lease term expiring January 31, 2028. The current NOI is $521,000, with a pro-forma NOI of $1,050,000 projected upon full occupancy. Built in 1984 and renovated in 2018, the property features ample parking (3 spaces per 1,000 sq ft) and is zoned PC - Industrial/Business, catering to a variety of uses including biotech, fashion, engineering, manufacturing, and office operations. The asking price is $18,950,000, representing a current cap rate of 2.75% and a pro-forma cap rate of 5.54%. The property benefits from a prime location at a signalized intersection, offering high visibility and excellent access to major transportation routes, including the SR-55 Freeway. This is an ideal opportunity for a business seeking to own and operate from its own facility, leveraging the strong existing tenancy and significant upside potential. The property includes one lease option.

Location Insight

City

Tustin

County

Orange

State

California

Longitude

-117.833

Latitude

33.7168

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments