9252 Garden Grove Boulevard 1, Garden Grove CA, 92844

Active

9252 Garden Grove Boulevard 1

Garden Grove CA, 92844

$7,850,000

$367.37 per sqft

Active

21,368 sqft

Commercial

Built in 1966

Listed by Stephen Shiu with STEPHEN SHIU, BROKER 213-359-8389

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/cafe 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.

CV23176589

MLSⓇ ID

October 3, 2023

Listed

May 9, 2024

Updated

Map

9252 Garden Grove Boulevard 1
Garden Grove CA, 92844

Interior Features

Total Stories: 2
Laundry Description: None
Fireplace: No
Cooling: Yes
Cooling Description: Central Air
Heating: Yes
Heating Description: Central

Exterior/Building Features

Lot Size: 1.87 Acres
Lot Features: 6-10 Units/Acre, Corner Lot, Lot Over 40000 Sqft, Sprinkler System
Roof: Clay

Other Property Details

Area Name: 63 - Garden Grove S of Chapman, W of Euclid
Days on Market: 130
Garage: No
Parking Total: 100
View: No
County: Orange
Water Source: Public
Pool: No
Zoning: GGMU-2
Buyer Agency Compensation: 2%

Listing History

Date	Event	Price
2/13/2024	Price Change	$7,850,000 -2%

Listing Contact: 213-359-8389

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 5/9/2024 at 3:29 PM UTC