9252 Garden Grove Boulevard 1, Garden Grove, CA 92844

  • $7,850,000
  • $367
9252 Garden Grove Boulevard 1, Garden Grove, CA 92844
  • Commercial Sale
  • Property Type
  • 1966
  • Year Built
For Sale
9252 Garden Grove Boulevard 1, Garden Grove, CA 92844
  • $7,850,000
  • $367

Overview

Property ID: SGR-16989922
  • Commercial Sale
  • Property Type
  • 1966
  • Year Built

Description

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 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.

  • Address 9252 Garden Grove Boulevard
  • City Garden Grove
  • State/county CA
  • Zip/Postal Code 92844
  • Area 63 - Garden Grove S of Chapman, W of Euclid
  • Country United States

Details

Updated on March 18, 2024 at 3:03 pm
  • Property ID: SGR-16989922
  • Price: $7,850,000
  • Land Area: 81559.00 m²
  • Year Built: 1966
  • Property Type: Commercial Sale
  • Property Status: For Sale
  • Living Area: 21368.00
  • MLS#: CV23176589
  • Office Name: STEPHEN SHIU, BROKER
  • Agent Name: Stephen Shiu
  • MLS Status: Active
  • Living Area Prefix: Sqft
  • Agent State License: 01921212
  • IDX Contact Info: 213-359-8389

Additional details

  • Roof: Clay
  • Cooling: Central Air
  • Heating: Central
  • County: Orange
  • Property SubType: Retail
  • Parking: 100.00
  • Water Source: Public

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