$3,840,000
$4,000,000
4.0%For more information regarding the value of a property, please contact us for a free consultation.
405 S State College BLVD Brea, CA 92821
0.74 Acres Lot
Key Details
Sold Price $3,840,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
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 0.740 Acres
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
Fireplace No
Laundry None
Exterior
Total Parking Spaces 41
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Tax ID 02933102
Acceptable Financing Cash, Cash to Existing Loan, Conventional
Listing Terms Cash, Cash to Existing Loan, Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Ed Diaz • Vanguard Property Group