160 Olinda Place, Brea, CA 92823
  • MLS#: CV23200708 ( Retail )
  • Street Address: 160 Olinda Place
  • Viewed: 3
  • Price: $4,200,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1966
  • Bldg sqft: 0
  • Days On Market: 564
  • Additional Information
  • Geolocation: 33.9276 / -117.804
  • County: ORANGE
  • City: Brea
  • Zipcode: 92823
  • Provided by: RE/MAX MASTERS REALTY
  • Contact: Eric Eric
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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 faade, 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 Citys development review team would consider this potential projects 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!
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Features
Assetclass
  1. Office
  2. Retail
  3. Specialty
Building Area Total
  1. 12000.00
Commoninterest
  1. None
Construction Materials
  1. Frame
  2. Stucco
Country
  1. US
Current Financing
  1. None
Current Use
  1. Commercial
  2. Investment
  3. See Remarks
Current Use Comments
  1. Office & Retail
Electric
  1. Standard
Expense Year
  1. 2024
Fencing
  1. Chain Link
Land Use
  1. Office
  2. Other
  3. Retail
Laundry Features
  1. None
Netoperatingincome
  1. 103740.00
Parcel Number
  1. 31505204
Postalcodeplus4
  1. 7042
Property Type
  1. Retail
Roof
  1. Spanish Tile
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
Signage
  1. Sign Freestanding
  2. Sign on Building
Uncovered Spaces
  1. 150.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Connected
  4. Water Connected
Water Source
  1. Public
Year Built
  1. 1966
Year Built Source
  1. Assessor