Retail

S. Main Street Redevelopment

1211 S Main Street, Santa Ana, CA 92707

Listing Price: $2,700,000

Lot Size
0.87 acres
Price/Acre
$3,095,867
Land Type
Redevelopment

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in two parcels of land totaling approximately 37,990 SF (0.87 acres), one of which has two buildings on it. The two buildings are currently occupied by a nonprofit childcare operator financially subsidized by the State of California. They have occupied the space since 2000 and are currently on a month-to-month lease agreement. The other parcel is a parking lot which serves the tenant directly. The two buildings were constructed in 1957 and were historically used as an automotive and glass repair shop. Attached to the southern most building is a structure referred to as the “Bus Garage” and is approximately 2,000sf with approximately 14 feet tall retractable doors. It is currently being used for storage but historically was a repair shop and has one hydraulic lift in it today. Additionally, Verizon Wireless has a ground lease for a cell tower and is paying $1,800/month. The cell tower was constructed in 1990 by PacTel Cellular and occupies approximately 1,125sf. Furthermore, Landlord, at Landlords expense, has the right to relocate Verizon’s communication facility to another location on the parcel for redevelopment purposes, including the roof of a new structure. There are multiple options for a new owner to come in with. This is a great opportunity for an infill redevelopment on 0.87 acres of land or could be for an owner/user looking to setup a business in a dense trade area. An investor could also keep the existing NNN tenant in place and yield an approximate 7.54% return with the in-place rents. This property is located within an Opportunity Zone, as well as the cities South Main Street Vision Plan.

Investment Highlights

  • Cell phone tower with 30+ year history included in sale
  • New zoning currently pending. Once approved, property will fall under the newly developed Urban Neighborhood designation.
  • Over 65,000 residents within 1-mile radius
  • Located within Opportunity Zone
  • 32,000 VPD along Main Street

Exclusively Listed By

Listing Price: $2,700,000

Lot Size
0.87 acres
Price/Acre
$3,095,867
Land Type
Redevelopment

Investment Highlights

  • Cell phone tower with 30+ year history included in sale
  • New zoning currently pending. Once approved, property will fall under the newly developed Urban Neighborhood designation.
  • Over 65,000 residents within 1-mile radius
  • Located within Opportunity Zone
  • 32,000 VPD along Main Street

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in two parcels of land totaling approximately 37,990 SF (0.87 acres), one of which has two buildings on it. The two buildings are currently occupied by a nonprofit childcare operator financially subsidized by the State of California. They have occupied the space since 2000 and are currently on a month-to-month lease agreement. The other parcel is a parking lot which serves the tenant directly. The two buildings were constructed in 1957 and were historically used as an automotive and glass repair shop. Attached to the southern most building is a structure referred to as the “Bus Garage” and is approximately 2,000sf with approximately 14 feet tall retractable doors. It is currently being used for storage but historically was a repair shop and has one hydraulic lift in it today. Additionally, Verizon Wireless has a ground lease for a cell tower and is paying $1,800/month. The cell tower was constructed in 1990 by PacTel Cellular and occupies approximately 1,125sf. Furthermore, Landlord, at Landlords expense, has the right to relocate Verizon’s communication facility to another location on the parcel for redevelopment purposes, including the roof of a new structure. There are multiple options for a new owner to come in with. This is a great opportunity for an infill redevelopment on 0.87 acres of land or could be for an owner/user looking to setup a business in a dense trade area. An investor could also keep the existing NNN tenant in place and yield an approximate 7.54% return with the in-place rents. This property is located within an Opportunity Zone, as well as the cities South Main Street Vision Plan.

Exclusively Listed By

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