Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to present the Allen Discount Furniture Commercial Building located in Fullerton, California. Fullerton is bordered by La Habra and Brea on the north, La Mirada on the northwest, Buena Park on the west, Anaheim on the south, and Placentia on the east. The city is approximately 25 miles southeast of downtown Los Angeles. As of the 2010 census, the city had a population of 135,161 residents. The top employers include California State University, Fullerton; St. Jude Medical Center and Raytheon. The asset consists of one building of approximately 12,776 square feet and is currently occupied by a furniture store on a month-to-month basis with rent significantly below market. The building was once a multiple-tenant property and could be converted to multiple tenants. The property would be an ideal owner/user opportunity or could be a value-added/ redevelopment project. The Allen Building feature reinforced brick construction with a unique pitched slate roof. The property is zoned G-C Commercial which will allow for a wide array of retail, commercial and office uses. Behind the property are 7 parking spaces. Frontage on Harbor Boulevard is 142 feet and 134 feet on Valencia Drive. The building is situated on a single parcel of land totaling 0.44 Acres. In the rear storage area, there are 3 auto lifts under the tenant's furniture/storage. The Allen Commercial Building is an ideal owner/user opportunity. The new ownership could occupy all or part of the property and have additional tenants/income paying a portion of the mortgage payment. Given today’s historically low interest rates, it will effectively have a mortgage payment that is lower than paying rent somewhere else. Using a Small Business Administration loan with a 10% down payment and interest rates ranging from 6.75%, a new owner would effectively have a mortgage payment of $1.31/square foot. This would make it more economical to own than to lease space elsewhere.