Property Features
- Price per Sq.ft: $318.99
- Sqr.Ft of Land : 18731
- Unit(s) : 10
- Sqr.Ft : 7740
- APN/Parcel ID: 133-371-13
- Annual Gross Rent: 184,598
- Gross Rental Income: Annual
- Lease Type: NNN
- Building Class: C
- Floors: 2
- Year Built: 1989
- Sprinklers: Yes
- Land Area: 18731
- Zoning: C
- Highlights: Cap Rate of over 6.5% on a NNN Retail Investment Well kept 2 story shopping center with large parking lot and great signage First time on the market in over 31 years Great for investor or owner/user Heavy daytime and nighttime foot and car traffic
- Sale notes: Vacant 2086 square foot 2nd floor space available for buyer to occupy.
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Description & Highlights
Vars Real Estate and Danco Inc. present for sale Korean Plaza on 12942 Galway Street in Garden Grove which is a highly sought after NNN Investment Southern California. The two story retail shopping center is comprised of ten units with 7,740 SF of building and 18,731 of land. The large parking has easy access and 33 surface parking spaces. The sellers are the original owners of the center and are offering a great Triple Net Investment with easy management and a high cap rate. The shopping center features a good tenant mix of local businesses that serve the surrounding residential neighborhood and the business community. Retail properties in Southern California are a great investment and the Korean Plaza is located within the Garden Grove area (Korean District and Little Saigon Region) of Orange County, California.
HIGHLIGHTS – NNN INVESTMENT SOUTHERN CALIFORNIA
– Cap Rate of over 6.5% on a NNN Retail Investment
– Well kept 2 story shopping center with large parking lot and great signage
– Vacant 2086 square foot 2nd floor space available for buyer to occupy.
– Property has not been on the market for over 31 years.
– Heavy daytime and nighttime foot and car traffic
EXECUTIVE SUMMARY
Garden Grove’s Korean Plaza is centrally located on Galway Street just a few feet from Garden Grove Boulevard and only 1.1 Miles from the 22 Freeway.
Companies located nearby in Garden Grove, California include Air Industries Corp, Prime Healthcare Services, Walmart, Hyatt Regency Orange County, Office Max Inc, Saint-Gobain Performance Plastics, Kaiser Foundation Health, and More.
Prospering Orange County Infill Location:
– Over 292,770 residents in the 3-mile trade area; the median home price within 1 mile is a hefty $620,054
– 1.5 miles from the historical GEM Theater and Festival Amphitheater
– 1.8 miles from the Garden Grove Strawberry Festival
– 5.6 miles from Disneyland (18.7 million visitors each year)
Additional Features
- Building Age: 31 years
- Parking: 33 spaces
- Cooling: Yes
- Heating: Yes
