1111-1153 Washington Blvd - Retail FOR SALE


Montebello, CA 90640
$9,950,000 USD
949-466-6088
1111-1153 Washington Blvd, Montebello, CA for Sale
$9,950,000 USD
Retail - FOR SALE
1/6
null | 3.83% Cap Rate

1111-1153 Washington Blvd
Montebello, CA 90640


HIGHLIGHTS

  • Value-Added Opportunity through Leasing & Management
  • Low Lease Rates; Significant Rental Upside
  • $269/SF; Below Replacement Costs
  • Large Parcel of 2.27 Acres- Potential Redevelopment
  • Signalized Intersection; Access from Washington Blvd. & Greenwood Ave

OVERVIEW

Marus & Millichap Real Estate Investment Service is pleased to present the opportunity to acquire the Fiesta Plaza & Auto Center located in Montebello, CA. This property is a value-added opportunity through improved management and rental rates. Presently, the property has low lease rates and a 5,500 vacant restaurant. Also, a new owner may have the option to divide this building into smaller retail suites, thus commanding higher lease rates for this space. Given the parcel size of 2.27 acres, the site will offer future redevelopment options as well. The site has access from both Washington Boulevard and Greenwood Avenue. Most of the property appears to have been built in 1956. The subject property is improved with strip commercial retail buildings totaling 37,045 rentable square feet. There are four buildings on the site. Two of the buildings consist of general retail buildings of 21,820 SF (15 units), one is the former El Muchacho Alegre Restaurante of 5,500 SF, and an automotive service/retail building consisting of 9,725 SF (10 units). The property has a total of 26 units. Please DO NOT disturb the tenants. For further information, please contact the listing agents.

FOR SALE DETAILS

PRICE

$9,950,000 USD

PRICE/SF

$277 USD /SF

CAP RATE

3.83%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

131

LAND DETAILS

LAND ACRES

2.27 AC

LAND SF

98,881 SF

ZONING

M1

APN/PARCEL ID

6353-017-014

ASK ABOUT THIS PROPERTY

Drew WetherholtMarcus & MillichapMore Info
949-466-6088

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Drew WetherholtMarcus & MillichapMore Info
949-466-6088

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.