14250 Beach Boulevard, Westminster, CA 92683

0 beds 0 baths 0 sq.ft.

Offerered at: $10,600,000.00

County: Orange
Year Built: 1973

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 well over two 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.

ESSENTIAL INFO

  • Status: Active