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    450 1st St Tustin, CA 92780-3310
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    Property profile & analytics

    450 1st St, Tustin, CA 92780-3310

    View on Map
    • Strip malls
    • 4,314 SF
    • 0.36 lot acres
    Off-Market
    Property ID
    US10-2966434
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jalapeños Mexican Food / Restaurant

    Property Details for 450 1st St

    Year built
    1984
    Lot size
    0.36 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    401-591-01
    APU
    40159101

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 2, 2013 $2,500,000 Shaolian Samuel M & Rozita Trust Mpnt LLC Grant Deed $500k · Us Bank Trust Co
    Mar 18, 2013 — Mpnt LLC Ny Thong & Ngo Pech Trust Grant Deed —
    Oct 6, 2006 — Ny Thong & Ngo P Living Trust Ny,thong Quit Claim Deed · related —
    Sep 14, 2005 — Thong Ny Lnd LLC Grant Deed $880k · Far East National Bank
    Jul 28, 2004 $1,350,000 Lnd LLC Sas Investment Co Grant Deed $1.2M · Southwest Community Bank
    Jan 22, 1998 $780,000 Sas Investment Co Wong,myra M Grant Deed $400k · Omni Bank
    — — S A S Investment Co — Deed Of Trust · related $300k · Omni Bank
    — — Myra M Wong — Deed Of Trust · related $400k · First Central Bank
    — — Ny Thong & Ngo Pech Living Trust — Deed Of Trust · related $850k · Far East National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $560,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tustin
    County
    Orange
    State
    California
    Longitude
    -117.819
    Latitude
    33.7454
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $36,747
    $1,328,011
    $1,690,193
    $3,018,204
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,690,000
      9,400 SF

      14430 Newport Ave

      SHOPPING CENTER, STRIP CENTER
      14430 Newport Ave, Tustin, CA 92780-5603
      View Details
    • Value Estimation
      $5,930,000
      38,570 SF

      15762 Tustin Vlg Way

      SHOPPING CENTER, STRIP CENTER
      15762 Tustin Vlg Way, Tustin, CA 92780-4924
      View Details
    • Value Estimation
      $2,245,000
      14,150 SF

      17292 Mcfadden Ave

      SHOPPING CENTER, STRIP CENTER
      17292 Mcfadden Ave, Tustin, CA 92780-5523
      View Details
    • Value Estimation
      $1,660,000
      4,136 SF

      13432 Newport Ave

      SHOPPING CENTER, STRIP CENTER
      13432 Newport Ave, Tustin, CA 92780-3717
      View Details
    • Value Estimation
      $3,080,000
      20,000 SF

      17391 17th St

      MINI-MALL
      17391 17th St, Tustin, CA 92780-7919
      View Details
    • Value Estimation
      $1,395,000
      4,559 SF

      13471 Newport Ave

      MINI-MALL
      13471 Newport Ave, Tustin, CA 92780-3716
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,940 SF

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    • $140,000

      Tustin Restaurant Business Opportunity

      Turnkey restaurant with beer and wine license in downtown Tustin.
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      Pending

      Established Pharmacy in Busy Center

      Pharmacy located near the 55 FWY in a busy center.
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    Similar Nearby for Lease

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      Retail Center in Tustin, CA

      Retail spaces in a high-income Orange County neighborhood.
      14511-14601 Red Hill Ave, Tustin, CA 92780
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    • Contact for pricing

      Retail Space in Tustin Center

      Retail spaces available in established Tustin shopping center.
      13681-13771 Newport Ave, Tustin, CA 92780
      View Details
    • Contact for pricing
      5,600 SF

      Retail Building with Freeway Access

      Retail building with ample parking and freeway proximity.
      13942 Newport Ave, Tustin, CA 92780
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    • New
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      Two-Story Office Building with Courtyard

      Two-story office setting with extensive glassline, outdoor seating, courtyard, and ample free surface parking.
      275 Centennial Way, Tustin, CA 92780
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    • Contact for pricing

      New Retail Center on Newport

      Newly constructed retail center with high visibility and traffic.
      15041 Newport Ave, Tustin, CA 92780
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    • Contact for pricing
      7,600 SF

      Retail Space for Lease

      Retail space available for lease in Tustin, California.
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      View Details
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    Tustin, CA 92780-3310
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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
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