9334 Alondra Blvd - Storefront FOR SALE


Bellflower, CA 90706
$2,250,000 USD
949-419-3205
9334 Alondra Blvd, Bellflower, CA for Sale
$2,250,000 USD
Storefront - FOR SALE
1/9
null | Request Cap Rate

NEW


9334 Alondra Blvd
Bellflower, CA 90706


HIGHLIGHTS

  • ± 0.93 Acre Infill Re-development Opportunity in a Prime Bellflower Location
  • Site is Designated as Opportunity Site 2.2 in the Housing Element of the General Plan
  • Housing Overlay will be Applied to Permit Residential Densities of up to 30 du/acre
  • Flat, Rectangular Site with All Utilities On-Site and Street Access on Both North & South Sides
  • Site is Currently Operated as a Thrift Store which will be Vacated at the Close of Escrow
  • The City of Bellflower Anticipates that this Site will be Redeveloped for Housing during the 2021-2029 Planning Period

OVERVIEW

Marcus & Millichap is pleased to offer for sale the ±0.93-acre site located at 9334 Alondra Blvd in the city of Bellflower, CA. The subject property is currently improved with a single-story 8,840 SF building that is operating as a thrift store, this building will be delivered vacant at the close of escrow. The property is located on busy Alondra Blvd, just to the west of Clark Avenue in central Bellflower. The site is level and fully paved, rectangular in shape with all utilities on-site, and the site benefits from 150’ of frontage along Alondra Blvd. Importantly, this site is also located in the City of Bellflower’s Opportunity Area 2 in the Housing Element of the General Plan - the property is specifically designated as Opportunity Site 2.2. Opportunity Area 2 is currently developed with retail and service uses in single-story stand-alone buildings with large surface parking areas tucked behind. None of the parcels have seen any significant improvements over the years, making them prime for redevelopment. Area 2 is surrounded by single family residential to the south, multi-family residential to the north, and a mix of commercial and retail uses to the east and west. The Area is also zoned General Commercial which does not currently allow housing as a permitted use. To facilitate the development of housing at a variety of income levels, all parcels in Opportunity Area 2 would be redesignated Mixed Use in the General Plan. To rezone the parcels, a housing overlay will be applied to permit residential development at densities of up to 30 dwelling units per acre. The overlay zone provides flexibility in that future developers can either propose projects in accordance with the underlying zone or the overlay classification. This site has primary access on the north side along Alondra Boulevard with a secondary access on the south side from Alpha Avenue. Because this site is greater than 0.5 acres and less than 10 acres in size, it is assumed that it could accommodate moderate, or above moderate-income residential development. According to the city, given the residential location of the site, proximity to the Downtown area, transit accessibility, and high potential for increased development, this site is likely to be developed with housing during the 2021-2029 planning period.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$265 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

±0.93 Acre Housing Overlay Site (30 du/Acre)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,537 SF

ZONING

BFCG*

APN/PARCEL ID

7105-027-017

ASK ABOUT THIS PROPERTY

Matthew WenzelMarcus & MillichapMore Info
949-419-3205

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Matthew WenzelMarcus & MillichapMore Info
949-419-3205

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