9210 Katella Avenue, Garden Grove, CA 92841 - Property for Sale
Available For Sale - Retail
0 SF
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Show Pricing $
AVAILABILITY DETAILS
- Size
- 0 SF
- Price/SF
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Show Pricing $
- Listing ID
- SA541066
- Notes
- NAI Capital Commercial, as exclusive advisors to ownership, presents this 100% leased multi-tenant, value add retail investment opportunity. The building is approximately 5,055 square feet and is situated a 0.47-acre parcel. The building was built in 1990 and currently still owned by the original developer. The building is well maintained and has minimal to no deferred maintenance. The property is located in the city of Garden Grove on Katella Avenue between Magnolia Street and Brookhurst Street. It is near the heart of Little Saigon and minutes from Disneyland and the Anaheim Convention Center. Katella Avenue offers over 30,000 cars per day. This opportunity consists of 5 tenants and 5 units, 4,378 SF GLA. Most leases expire in 2025 and there are no option rights for all the tenants. The most recent lease signed on 6/2023 was for $2.29 / SF. Proforma lease rate is $2.50/SF. Current avg. rate is $1.88 / SF. The usable building size, excluding unit B, is 4,378 SF, which puts the parking ratio at 6.39 per thousand. This offers an investor the option to convert this to a medical center and substantially increase the rent. A new owner can also convert all the leases to NNN to pass the expenses to the tenant, resulting in a substantial cap rate increase. Unit B (677 SF) is occupied by the Verizon cell tower and has been sold. This unit does not produce any rent and has an easement for the right to use the suite and outside areas. The common area electric is paid by this tenant, which reduces the owner's expenses. Electric and gas on separate meters and paid by tenants and water is master metered. From 2019 to 2023, the Property received the following in up-keep repair and maintenance work: *2019-Roof work. *2020 -New Exterior Building Signage & Monument Signage. *2020 -New Exterior Paint. *2020 -New Exterior parking lot slurry Patch, Seal, Stripe. *2021 -New Exterior Lighting added. *2021 -New Landscaping. *2022 -Units D & F Complete Renovation. *2022-Main Sewer Line Replaced.
- Uses
- Retail
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.
Listing provided courtesy of
Steve Liu, NAI Capital
BRE# 01323150
Steve Liu, NAI Capital
BRE# 01323150
