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405 S State College BLVD Brea, CA 92821
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Key Details
Sold Price $3,840,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 15,000 sqft
Price per Sqft $256
MLS Listing ID PW20227092
Sold Date 08/12/21
HOA Y/N No
Year Built 1974
Annual Tax Amount $46,000
Tax Year 2021
Lot Size 0.742 Acres
Acres 0.7417
Property Sub-Type Mixed Use
Property Description
*New Price/5.7 CAP & 5.65% COC Scheduled Actual Rents/$266 CPSF* Brea Park Plaza boasts a dynamic, vibrant and irreplaceable commercial/retail location just south of the Brea Mall and approx. 1/8 of a mile from the 57 freeway on/off-ramp. With approx. 230 ft of frontage on State College Blvd, ample signage and high traffic counts, it offers tenants extremely high visibility. It is comprised of retail space (first 2 floors) and office space (3rd floor) - all of which is elevator served. There is ample parking with 41 onsite spaces and generous on-street parking. Brea Park Plaza enjoys a diverse, internet-resistant tenant mix of 16 tenants in the following trades: hair & beauty, chiropractic, pet groomers, financial/CPA and general office. The subject property has undergone numerous and extensive capital improvements including: new title 24 energy efficient foam roof (2020), new parking lot with complete excavation and replacement of asphalt, new exterior paint and numerous heating and AC upgrades and replacements. It offers the savvy operator significant rental upside upon renewal or re-leasing. The adjacent commercial property to the north is undergoing a major renovation with sites leased to strong regional/national tenants including: In & Out Burger, Fogo de Chao Steak House, Active, Bank of the West etc with lease rates around $4 per sq ft. Brea Park Plaza offers the experienced investor a stable, well-located investment with significant upside and an irreplaceable location.
Location
State CA
County Orange
Area 86 - Brea
Interior
Laundry None
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.0
TERMS Cash,Cash To Existing Loan,Conventional
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Property Manager
SHOW CONTACT NAME Julia Diaz
SHOW INSTRUCTIONS For more information or to set up a showing, please contact Julia at julia@vanguardproperty.com See attached supplement for detailed income and expenses.
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Bought with Vanguard Property Group