Brea, CA 92821,405 S State College BLVD
Brea, CA 92821,405 S State College BLVD
Brea, CA 92821,405 S State College BLVD
17
$3,840,000
$4,000,000
4.0%
Est.Price: ?

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15,000 SqFt

405 S State College BLVD Brea, CA 92821

Est. payment /mo
SOLD DATE : 08/12/2021

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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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CRMLS Plus
Listed by Vanguard Property Group
Bought with Vanguard Property Group
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agent

Mark Witte

Agent | License ID: 02102425

+1(949) 269-7270

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