|Sale Price: $8,000,000||APN: 336-515-07; 336-515-08||Year Built: 1964 / Renovated: 1989|
|Cap Rate: 5.55%||Lot Size: 336-515-08/19,998 SF; 336-515-07/1.95 AC||Zoning: Commercial/Retail|
|Price/SF: $323||Building Size: 24,731 SF||Sub Market: Buena Park/La Palma|
- Price per square foot is a low $323 which is below replacement value.
- Average Rent just a low $1.70 per square foot.
- Major Retail and Housing Corridor in upscale area of Northern Orange County with average household income of $127,370 in a 3 mile radius.
- Dense mix of Single Family and Multi-Family dwellings, with strong traffic counts of almost 40,000 cars per day.
- Lower priced per square foot retail investment available in core Orange County, with over 19,359 persons in one mile radius and 134,463 persons in a 3 mile radius.
- El Dorado High School and St. Rose Hospital in close proximity, as well as technology, accounting, and law firms in nearby business parks 1/2 mile to the North of subject property.
- Historically stable tenancy with below market rental rates. Possibility of raising rates up to $0.50 per square foot NNN on “as-is” basis, and over $1.00 per square foot with renovation.
- Corporate Pizza Hut (since 1990) anchors the corner building. An endcap 5,200 SF restaurant unit is extremely valuable space with full service entertainment and alcohol sales with signage and frontage along Yorba Linda Blvd. Space can easily be subdivided as well and an outdoor patio can be added.
- Clean, but older construction design, offers the value-minded investor an opportunity to acquire, renovate and add considerable value, which is extremely difficult to source in highly desirable Orange County.