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- LoopNet Team
12892 Newport Ave
Tustin, CA 92780
Circle K · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Bus Line
- Metro/Subway
- Pylon Sign
- Tenant Controlled HVAC
ABOUT 12892 NEWPORT AVE , TUSTIN, CA 92780
The Circle K Franchisee tenant is currently subject to a triple-net (NNN) lease. There is approximately five years remaining on the extensions term, plus (2) additional, successive Option periods, to extend the Lease Term for an additional period not to exceed (5) years each ending (December 31, 2034). Both option terms have fixed-rate, annual increases in the rent. Operated as a Circle K, the property was built in 1966 as a Tic Toc Market, the property consists of approximately 2,626 square feet of rentable space and sits on 0.21± acres of land. The subject property shares driveway easements with Floyds 99 Barbershop (125+ locations), the retro-cool, Analog Record - Vintage Stereo Shop, (vinyl record sales are projected to beat CD sales this year for the first time in 30 years) and the Diplomat Apartments.
PROPERTY TAXES
| Parcel Number | 501-081-03 | Improvements Assessment | $109,363 |
| Land Assessment | $2,406,022 | Total Assessment | $2,515,385 |
PROPERTY TAXES
