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    14250 Beach Boulevard

    Westminster, CA 92683
    • $10,600,000
    • STATUS: Active
    • ON SITE: 101 days
    • ID#: OC20061813
    UPDATED: 12 min ago
    $10,600,000
    • 0
      BEDS
    • 1.9
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 24,090
      SQFT
    • $440
      $/SQFT

    School Ratings & Info

    Description

    This retail shopping center is located on a heavily trafficked, four-way signalized Beach Blvd intersection and is only one block from the Westminster Civic Center, which includes the police department, court house, and other city buildings. As such, the property enjoys great vehicle and foot traffic, which has facilitated 100% occupancy for three years and counting. The property is currently home to 19 tenants, including two restaurants, two insurance offices, a flagship Red Wing shoe store, a dentist's office, pharmacy, dental laboratory, barber, and more. Positioned +/- 1 mile north of the 405 and 1 mile south of the 22, this stretch of Beach Blvd enjoys traffic of approximately 76,000 vehicles daily. With an average monthly rental rate of $2.15 / sf, the property currently grosses +/-$615,000.00 annually, and produces an average Net Operating Income of $398,000.00 annually (after adjusting for new tax base due to selling price). The center features a new $90,000.00 silicone roof restoration w/ 20 year warranty, new front and rear paint, and new concrete walkways the full length of the building. 15 of the storefronts are located at ground level, while 4 storefronts (+/-3,600 sf) are accessed via stairs to a highly visible 2nd story walkway. Excellent ingress and egress, great signage, thriving businesses, and ample parking. Buyer to cooperate with Seller's 1031.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-03T22:26:13.543. 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 Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

    www.homefinderorangecounty.com/homes/104390341
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    14250 Beach Boulevard Westminster, CA 92683

    • Price: $10,600,000
    • Status: Active
    • Updated: 12 min ago
    • ID#: OC20061813
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.9
    Acres
    24,090
    SQFT
    $440
    $/SQFT
    1973
    Built
    Neighborhood:
    60 - Westminster South of Westminster, W of Beach
    County:
    Orange
    Area:
    60 - Westminster South of Westminster, W of Beach
    Property Description
    This retail shopping center is located on a heavily trafficked, four-way signalized Beach Blvd intersection and is only one block from the Westminster Civic Center, which includes the police department, court house, and other city buildings. As such, the property enjoys great vehicle and foot traffic, which has facilitated 100% occupancy for three years and counting. The property is currently home to 19 tenants, including two restaurants, two insurance offices, a flagship Red Wing shoe store, a dentist's office, pharmacy, dental laboratory, barber, and more. Positioned +/- 1 mile north of the 405 and 1 mile south of the 22, this stretch of Beach Blvd enjoys traffic of approximately 76,000 vehicles daily. With an average monthly rental rate of $2.15 / sf, the property currently grosses +/-$615,000.00 annually, and produces an average Net Operating Income of $398,000.00 annually (after adjusting for new tax base due to selling price). The center features a new $90,000.00 silicone roof restoration w/ 20 year warranty, new front and rear paint, and new concrete walkways the full length of the building. 15 of the storefronts are located at ground level, while 4 storefronts (+/-3,600 sf) are accessed via stairs to a highly visible 2nd story walkway. Excellent ingress and egress, great signage, thriving businesses, and ample parking. Buyer to cooperate with Seller's 1031.
    Exterior Features

    Lot Features 0-1 Unit/AcreLot Over 40000 Sqft Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 3.90 Country Us Expense Year 2019 Gross Scheduled Income 623000.00 Land Lease YN No Land Use OfficeOtherRetail Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 414000.00 Number Of Units Leased 19 Professional Management Expense 27000.00 Property Sub Type Business Real Estate Tax Expense 42808.00 Special Listing Conditions Standard Tax Annual Amount 42808.00 Tax Year 2020 Total Expenses 209000.00 Vacancy Allowance 0 Water Source Public Zoning C1

    Listing provided courtesy of Patrick Keefer of Patrick Keefer, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-07-03T22:26:13.543. 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 Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

     
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