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31422494
31438248

1981 N Tustin St, Orange, CA 92865

JS
CA 01360233
Colliers - Los Angeles - Orange County, California
EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California
$5,595,000
81 days on market
Updated 62 days ago

Commodore Plaza

Details
APN 372-311-01
Property Type Retail
Sub Type Strip Center
Square Footage 9,940
Units 6
Cap Rate 5.53%
NOI $309,432
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options See OM for details
Broker Co-Op Yes
Acreage 0.780
Parking Spaces 4.53 per 1,000 sq ft
Investment Type Net Lease

Retail | 5.53% CAP | 9,940 SqFt

Investment highlights

Rare Orange County Retail Strip Center – 100% Occupancy

  • Long Term NNN Leases
  • 3 - 4% Annual Rent Increases - Hedge Against Inflation
  • WALT Over 5 Yrs Providing Certainty of Long Term Income & Reducing Near Term TI & LC Costs
  • Brand New Capital Improvements - New Facade, Landscaping & Exterior Paint
  • 6 of 8 HVACs Replaced in Last 3 Years, 5 in the Last 12 Months
  • 9,940 SF Strip Center (6-Tenants) on 0.78 Acre Parcel – Apprx. 45 Parking Spaces 4.53 Stalls per 1,000 SF Rare for OC Strip Center Retail
  • Doña Meche - 25 years at this Location - Community Staple Restaurant
  • La Bodega Market Full Remodel Underway
    • Paying Rent Since December 2025 - Anticipated Opening July 2026

Across from The Village at Orange Redevelopment

  • Anchored by Walmart, Sprouts, Trade Joes, Home Goods, Ulta, PetSmart, 24 Hour Fitness
  • 167 New Townhome-Style Condominiums - Multi-Phase Redevelopment By Integral Communities and Lennar Homes - Site Cleared and Graded
  • City of Orange Launched the “Meats to Heim Specific Plan” in January 2026, Establishing the Zoning and Land Use Framework for the Full 63-Acre Site
  • Active Leasing Momentum: CAVA and Mr. Moto Pizza Recent Openings with Future 2026 Openings Kura Sushi, Tifa Chocolates & Gelato, and Sourdough & Co.

A+ Location on Tustin Street – Central Orange County

  • High Traffic Retail Location - Over 39,600 VPD
  • Adjacent to 55 Freeway - Over 230,300 VPD
  • Surrounding National Retailers Include Target, Home Depot, Vons, Trader Joe’s, PetSmart, McDonald’s, In-N-Out Burger, Chick-fil-A, Panera Bread, Raising Cane’s, Chipotle, Bank of America, Wells Fargo
  • Opposite Orange Villa Shopping Center & Tustin Square - Cross Shopping Synergies

High Income – Densely Populated Trade Area

  • Over 468,400 people living within a 5-Mile Radius
  • Upscale Population – AHI of $156,400 within a 3-Mile Radius
  • Over 27,000 Businesses within a 5-mile Radius and 290,000 Employees

Listing Contacts

JS
CA 01360233
Colliers - Los Angeles - Orange County, California
EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$309,432.00
$25,786.00/mo

Valuation Metrics

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DSCR
5.53%
Cap Rate
5.53%
ROI

Map

Zoning

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C-TR CommercialSpecial CommercialLimited Business Tustin Redevelopment Project Area
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View all 295 uses
View all 295 uses
Last updated May 25, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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