$7,850,000
9252 Garden Grove Boulevard # 1, Garden Grove 92844
81,559
Lot Size
Listing Agent
Stephen Shiu - STEPHEN SHIU, BROKERThis value add property in the heart of Garden Grove is ready for an owner to properly manage as the tenant mix can be improved and rents are under market. 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 with some tenants on month to month leases. Currently, there is 1 vacancy and income will improve when that unit is leased. Cap Rate: 5.77% (as-is) 6.91% (proforma) Gross Scheduled Income: $628,793 ($745,1036 proforma) per year Price/SF: $368.16s 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.
Facts & Features
MLS® # | CV23176589 |
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Price | $7,850,000 |
Bathrooms | 0.00 |
Lot Size | 81,559 |
Year Built | 1966 |
Type | Commercial Sale |
Sub-Type | Retail |
Status | Active |
# Of Units | 11 |
Community Information
Address | 9252 Garden Grove Boulevard # 1 |
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Area | 63 - Garden Grove S of Chapman, W of Euclid |
City | Garden Grove |
County | Orange |
Zip Code | 92844 |
Amenities
Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
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Parking Spaces | 100 |
Is Waterfront | No |
Has Pool | No |
Interior
Heating | Central |
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Cooling | Central Air |
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Exterior
Lot Description | 6-10 Units/Acre, Corner Lot, Lot Over 40000 Sqft, Sprinkler System |
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Roof | Clay |
Additional Information
Date Listed | October 3rd, 2023 |
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Days on Market | 180 |
Zoning | GGMU-2 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Stephen Shiu |
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Office | STEPHEN SHIU, BROKER |