1981 Tustin St, Orange, CA 92865-3945
- Retail space
- 9,860 SF
- 0.77 lot acres
Current Use by Public Records
- Doña Meche Mexican Food / Restaurant
Property Details for 1981 Tustin St
- Year built
- 1965
- Lot size
- 0.77 lot acres
- Property type
- Retail space
- APN
- 372-311-01
- APU
- 37231101
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 11, 2025 | $3,275,000 | 1981 N Tustin St LLC | Ramona A Marshall | Grant Deed | $2.3M · Secured Return Fund LLC |
| Mar 4, 2025 | — | Ramona A Marshall | Casey R Marshall | Deed · related | — |
| Oct 26, 2012 | — | Marshall Ramona A Trust | Marshall,ramona A | Quit Claim Deed · related | — |
| Nov 2, 1990 | $437,000 | Ramona Marshall | Alcaraz Trust | Grant Deed · related | $51k · Seller |
Description
Commodore Plaza, a multi-tenant retail property located at 1981 N Tustin St, Orange, CA 92865, presents a compelling investment opportunity. This 9,860 square foot shopping center, built in 1965, sits on a 0.77-acre lot and boasts seven tenants across eight units. The property offers significant value-add potential and benefits from a highly desirable location in the thriving East Orange submarket, known for its strong retail activity. With 45 parking spaces, ample parking is available for both tenants and customers. The asking price is $3,795,000. The property features excellent signage and visibility, ensuring high traffic and exposure for tenants. Minimal landlord responsibilities contribute to a streamlined ownership experience. This versatile space is ideal for investors seeking a stable income stream with potential for future growth and appreciation. Direct frontage on Tustin Street provides exceptional accessibility and visibility. The property's strategic location within the affluent and rapidly growing community of Orange, California, makes it an attractive investment for those seeking a strong return on investment in a prime retail market. The existing tenant base provides immediate cash flow, while the potential for lease rate increases and property improvements offers further upside. This is a rare opportunity to acquire a well-positioned retail center in a highly sought-after Orange County location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,880,000
- ML approach
- $2,900,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,325,000
- 6.5%
- $2,145,000
- 7%
- $1,990,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,210,000
Market price range: $1.20M - $5.08M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,455,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $4,625,000 Change: +34% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $4,400,000 Change: +27% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $4,100,000 Change: +19% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $2,990,000 Change: -13% Conversion: Difficult
- INDUSTRIAL (GENERAL)
- $2,830,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Orange
- County
- Orange
- State
- California
- Longitude
- -117.835
- Latitude
- 33.8209
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
