PRINCIPALS ONLY PLEASE
Two multi tenant retail properties for sale in south Orange County, California by same owner. Long time owner is an older gentleman who is liquidating his portfolio, so these are not distressed properties. Owner is not doing a 1031 tax deferred exchange, so he will carry financing with a 20% down payment.
The larger shopping center has 80,000+ square feet of buildings on over 7.5 acres of land located on two adjacent, but separate parcels. The owner is not interested in selling them individually. They have over 500 feet of street frontage and dedicated turning lanes on a major surface street in the main retail corridor. It is located less than one mile from the largest, busiest Freeway in Southern California, Interstate 5
The smaller property is just down the street from the first one. It consists of a 13,000 + square foot building on just under 40,000 square feet of land. It is also located at a signalized intersection with high traffic density.
The larger property could use cosmetic upgrades. It was probably built in the early 70Â’s and has outdated landscaping, facades and paint colors. It has below market rents in the $ 2.00-$ 2.50 per square foot range which could be increased by a more attentive owner.
The smaller property is newer, built in the late 1980Â’s and is in very good condition. The rents reflect that by being in the $ 3.00 - $ 4.00 per square foot range.
Both properties are over 95% occupied.
The area has strong demographics, including population density, average household income, highly rated schools and very low crime rates.
Asking price for the larger center is $ 28 Million, asking price for the smaller center is $ 8.25 Million. The owner willing to finance with a 20% down payment.
For more information, please contact Mike Tierney at Real Estate Valuations and Research, 949-588-0658 or by email at Miketierney@revar.com
PRINCIPALS ONLY PLEASE
We also have 440 acres of vacant land near Malibu and Beverly Hills for sale, asking $ 16 Million.