14250 Beach Boulevard, Westminster, CA 92683

$10,600,000
24,090
SqFt
List Price
$10,600,000
Price Change
▲ $2,600,000 1559982267
Status
ACTIVE
MLS#
OC19126953
Year Built
1973
Living Sq. Ft
24,090
Days on Market
87
Property Type
Commercial
Property Sub Type
Retail

Property Description

This retail shopping center is located on a heavily trafficked, four-way signalized Beach Blvd intersection and is only one block from the Westminster Civic Center, which includes the police department, court house, and other city buildings. As such, the property enjoys great vehicle and foot traffic, which has facilitated 100% occupancy for well over two years and counting. The property is currently home to 19 tenants, including two restaurants, two insurance offices, a flagship Red Wing shoe store, a dentist's office, pharmacy, dental laboratory, barber, and more. Positioned +/- 1 mile north of the 405 and 1 mile south of the 22, this stretch of Beach Blvd enjoys traffic of approximately 76,000 vehicles daily. With an average monthly rental rate of $2.15 / sf, the property currently grosses +/-$615,000.00 annually, and produces an average Net Operating Income of $398,000.00 annually (after adjusting for new tax base due to selling price). The center features a new $90,000.00 silicone roof restoration w/ 20 year warranty, new front and rear paint, and new concrete walkways the full length of the building. 15 of the storefronts are located at ground level, while 4 storefronts (+/-3,600 sf) are accessed via stairs to a highly visible 2nd story walkway. Excellent ingress and egress, great signage, thriving businesses, and ample parking. Buyer to cooperate with Seller's 1031.

Additional Information

Taxes
$106,000
Water
Public

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Listing courtesy of Patrick Keefer from Patrick Keefer, Broker

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.