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    405 S State College Boulevard

    Brea, CA 92821
    • $4,295,000
    • STATUS: Active
    • ON SITE: 30 days
    • ID#: PW20227092
    UPDATED: 37 min ago
    $4,295,000
    • 0
      BEDS
    • 0.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,000
      SQFT
    • $286
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1974
    County:
    Area:

    School Ratings & Info

    Description

    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 but also offers a 4.9 CAP rate based actual rents. 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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-28T09:26:39.353. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Results Group | Berkshire Hathaway HomeServices California Realty. Licensed in the State of California, USA.

    www.redlandsland.com/homes/111418776
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    405 S State College Boulevard Brea, CA 92821

    • Price: $4,295,000
    • Status: Active
    • Updated: 37 min ago
    • ID#: PW20227092
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.74
    Acres
    15,000
    SQFT
    $286
    $/SQFT
    1974
    Built
    Neighborhood:
    86 - Brea
    County:
    Orange
    Area:
    86 - Brea
    Property Description
    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 but also offers a 4.9 CAP rate based actual rents. 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.
    Exterior Features

    Lot Features 0-1 Unit/Acre Lot Size Source Appraiser Lot Size Units Square Feet Parking Total 41.00 Uncovered Spaces 41.00

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Accounting Type Actual Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 4.90 Country Us Electric Expense 37749.00 Gross Scheduled Income 314344.00 Insurance Expense 3343.00 Investment Property YN Yes Land Lease YN No Land Use OfficeRetail Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 209132.00 Number Of Units Leased 16 Operating Expense 142176.00 Other Income1 36964.00 Professional Management Expense 10771.00 Property Sub Type Mixed Use Real Estate Tax Expense 49393.00 Special Listing Conditions Standard Tax Annual Amount 49393.00 Tax Rate 1.15 Tax Year 2020 Total Expenses 142176.00 Trash Expense 3123.00 Water Sewer Expense 5131.00 Water Source Public Year Built Source Appraiser

    Listing provided courtesy of Ed Diaz of Vanguard Property Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-28T09:26:39.353. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Results Group | Berkshire Hathaway HomeServices California Realty. Licensed in the State of California, USA.

     
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    The Results Group | Berkshire Hathaway HomeServices California Realty
    501 Stuart Street, Suite 101
    Redlands CA, 92373