Properties

Brea, CA 92823 160 Olinda Place

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Presented By: Eric Eide with RE/MAX MASTERS REALTY; 714-785-2557
  • MLS# CV23200708
  • 11/01/2023
  • Get pre-approved
  • Request Tour
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  • SQFT • 12,000

Home Details

Presenting a remarkable investment opportunity, this prime retail shopping center is now available for acquisition. Situated in a highly sought-after location, this property offers investors a strategic asset with a strong track record of performance and promising growth prospects. Strategically located in a high-traffic area with excellent visibility and accessibility, this shopping center is a cornerstone of the community and enjoys a consistent influx of potential customers. This shopping center boasts a total of +/-12,000 square feet on a spacious 3.68 acre lot. The center's diverse tenant mix includes a wide range of retail, dining, and service businesses. The shopping center offers ample parking with approximately 150 parking spaces, ensuring convenience for customers and tenants. The deferred maintenance presents an opportunity for the buyer to renovate and modernize the property, potentially increasing its leasing appeal and rental income. This could involve upgrading the faรงade, parking lot, enhancing landscaping, or improving common areas. Opportunities for expansion or redevelopment are available, allowing for additional revenue streams. Within the existing Neighborhood Commercial (C-N) zone, a senior living facility is permitted with the approval of a conditional use permit (CUP). Upon full or preliminary application submittal, the Cityโ€™s development review team would consider this potential projectโ€™s compatibility with the site and surrounding neighborhood. A consideration for a facility provider may be proximity to a hospital or medical facility from the property. With regard to the potential of rezoning to a residential zone. A rezone to Single Family (R-1) is the most intensive residential density the City may be supportive of. Currently, the maximum density in the R-1 zone is 6 dwelling units per acre. A zone change would also require a general plan amendment, which is a legislative request that requires city council approval. At a minimum, this type of project application would require the preparation of an initial study by one of our environmental consultants to assess what type of environmental review is warranted. Buyers are advised to check with the City for all development possibilities!
Presented By: Eric Eide with RE/MAX MASTERS REALTY; 714-785-2557

Interior Features for 160 Olinda Place

Other Interior Features

Laundry FeaturesNone
Total Stories1

Other Rooms

Entry Level1

General for 160 Olinda Place

Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Business TypeFood & Beverage, Multi-Tenant, Professional/Office, Professional Service, Paints, Restaurant, Retail
Cap Rate2.9
CityBrea
Construction MaterialsFrame, Stucco
CountyOrange
Current FinancingNone
Current UseCommercial, Investment, See Remarks
DirectionsTake Carbon Canyon East From Lambert Road to the Intersection of Olinda Dr & Carbon Canyon Rd.
ElectricStandard
Land Lease Y/NNo
Listing TermsCash, Cash to New Loan, Conventional, Contract, 1031 Exchange
Lot Size Square Feet160413
Lot Size UnitsSquare Feet
MLS Area86 - Brea
Net Operating Income103740
Number of Units Leased8
Occupancy TypeTenant
Open Parking Spaces150
Operating Expense44460
PostalCityBREA
Property Sub Type AdditionalRetail
Property SubtypeRetail
Property TypeCommercial Sale
RoofSpanish Tile
Security FeaturesCarbon Monoxide Detector(s), Smoke Detector(s)
Special Listing ConditionsTrust
Standard StatusActive
StatusActive
UtilitiesElectricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Year Built1966
Year Built SourceAssessor

Exterior for 160 Olinda Place

Building Area Total12000
FencingChain Link
Lot FeaturesGentle Sloping, Irregular Lot, Lot Over 40000 Sqft, Paved, Value In Land
Lot Size Acres3.6826
Lot Size Area160413
Lot Size SourceAssessor
Number of Buildings2
Total Parking150
Water SourcePublic

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Connect Realty

Price $3,500,000
MLS#CV23200708
List Date 11/01/2023
Property Type Commercial
Phone 888.795.6274
Get pre-approved
Request Tour
Request Info
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