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2117 Orange Olive Rd 2,955 SF Retail Building Orange, CA 92865 $2,899,000 ($981.05/SF) 3.73% Cap Rate
EXECUTIVE SUMMARY
DESCRIPTION
Excellent Development Opportunity in the City of Orange Rare opportunity to develop a flat lot in the heart of Orange, zoned commercial with potential for multifamily construction. Per the seller, the City has indicated they are open to permitting a multi-unit residential project possibly 10 units or more. Buyer to verify all development possibilities with the City. Currently, the property includes a fully operational laundromat generating steady income. In addition, the rear portion of the lot is leased to a car lot, bringing in approximately $4,000/month. High-demand location and strong income make this a great investment with future upside. Drive by only—please do not disturb tenants. THIS IS ALSO ZONED FOR DRIVE THROUGH RESTAURANT RARE TO FIND IN THE CITY OF ORANGE. Submit all offers—this one won’t last!
Excellent Development Opportunity in the City of Orange Rare opportunity to develop a flat lot in the heart of Orange, zoned commercial with potential for multifamily construction. Per the seller, the City has indicated they are open to permitting a multi-unit residential project possibly 10 units or more. Buyer to verify all development possibilities with the City. Currently, the property includes a fully operational laundromat generating steady income. In addition, the rear portion of the lot is leased to a car lot, bringing in approximately $4,000/month. High-demand location and strong income make this a great investment with future upside. Drive by only—please do not disturb tenants. THIS IS ALSO ZONED FOR DRIVE THROUGH RESTAURANT RARE TO FIND IN THE CITY OF ORANGE. Submit all offers—this one won’t last!
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,955 SF
Building Class
C
Year Built/Renovated
1955/2010
Price
$2,899,000
Price Per SF
$981.05
Cap Rate
3.73%
NOI
$108,000
Business Value
$500,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.52 AC
Parking
25 Spaces (8.46 Spaces per 1,000 SF Leased)
Frontage
154’ on Orange Olive Rd
AMENITIES
- Pylon Sign
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Lighthouse Laundromat
- Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Lighthouse Laundromat | Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 374-411-19 | Improvements Assessment | $213,524 |
| Land Assessment | $728,513 | Total Assessment | $942,037 |
PROPERTY TAXES
Parcel Number
374-411-19
Land Assessment
$728,513
Improvements Assessment
$213,524
Total Assessment
$942,037
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2117 Orange Olive Rd
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