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6847 - 6931 Katella Avenue - Cypress Center - Cypress Center, Cypress, CA

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DetailMap
6847 - 6931 Katella Avenue - Cypress Center - Cypress Center

Cypress, CA 90630-5107 - Cypress Submarket

(2.2 MB)

Property Type:Retail Sub Type:- Status:Existing Year Built:1984
Building Size:46,037 SF Land Area:3.71 AC (161,608 SF)
For Sale Price:$22,513,000 Price/SF:$489.02
Cap Rate:5.50 %
Parking:475 Surface spaces are available; Ratio of 3.05/1,000 SF


Located in the heart of Cypress, on one of the busiest commercial thoroughfares. Excellent street visibility and access. Adjacent to Target. Retailers at intersection are Ross, Tilly's, Staples, Olive Garden, Albertson's, Payless Shoe Source and Shoe City.

Sale Notes:
Description
* Complementary, National, Regional and Local Tenant Mix Anchored by a high-performing Target (NAP) offering a grocery component, Sola Salon, Anytime Fitness, Chipotle, Five Guys, GameStop, GNC, Great Clips, Papa John' s Pizza, Baskin Robbins, Carl' s Jr., Massage Envy as well as a synergistic mix of local tenants establishing Cypress Center as both a popular regional and local destination within its submarket

* High Credit Tenancy Over 80% of the GLA is leased to national or regional credit tenants with several major tenants on newer 10-year leases

* Significant NOI Growth The NOI is projected to grow more than $480,000 (39%) over the anticipated hold period, providing an excellent hedge that exceeds inflation
* High Identity, High Traffic Location Strong traffic counts of nearly 60,000 CPD at Katella Avenue / Knott Avenue intersection, combined with convenient ingress and egress, complemented by ample parking, make the property a customer favorite

* Dense and Affluent Trade Area More than 262,200 people in a 3-mile radius with an Average Household Income exceeding $80,600

CBRE
Phil D Voorhees
(949) 725-8521

Kirk Brummer
(949) 725-8418

Preston Fetrow
(949) 725-8538

Todd Goodman
(949) 725-8550

James Slusher
(949) 725-8507

Megan Wood
(949) 725-8423




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