This value add property in the heart of Garden Grove is ready for an owner to properly manage as the tenant mix can be improved, rents are under market and the owner is not collecting CAM. The property consists of 4 buildings and tenants totaling 21,368 SF on a large 1.87 acre lot which, potentially, allows for development opportunity. There are 3 restaurant/café tenants that drive traffic to the property. There is great upside potential with increased rent and CAM reimbursement as the tenants were mostly leased up during the Pandemic. Property is 100% leased with some tenant leases expired or expiring soon.
Cap Rate: 5.25% (as-is) 6.52% (proforma not including CAM reimbursement)
Gross Scheduled Income: $612,548 ($740,406 proforma ) per year
Price/SF: $372.05
Owner is in process of improving the property including aesthetic upgrades, increasing income, and expense reimbursement so that the financials will noticeably improve over time. See offering memorandum for more information. Contact listing agent for the most up to date information.
Additional Features
- Central
- Parking spaces: 100.00
- Listing Status: Active
- Listing Agent: Stephen Shiu
(lic# 01921212)
of Citrus Valley
- Listing Office: STEPHEN SHIU, BROKER
(lic# 02078334)
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Based on information from CRISNet MLS as of 5th May 2024 at 9:05am. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
