1111-1153 Washington Blvd 37,045 SF 85% Leased Retail Building Montebello, CA 90640 $9,490,000 ($256.17/SF) 4.02% Cap Rate

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.