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2222-2308 W 2nd St 24,426 SF 88% Leased Industrial Building Santa Ana, CA 92703 $6,850,000 ($280.44/SF) 6.50% Cap Rate
Investment Highlights
- 100% NNN Leased (15 Units): 6.50% Cap Rate
- 15 units ranging from 975 SF to 4,401 SF.
- New Roof- TPO 60-mil (20 yr Product)
Executive Summary
100% Leased Investment Sale: 24,426 SF consisting of 15 shallow-bay industrial units ranging from 975 SF to 4,401 SF.
Major $275K price reduction from $7,125,000 ($291 PSF) to $6,850,000 ($280 psf)
The project is 100% leased which equates to a 6.50% Cap Rate. The Net Operating Income (NOI) is $445,280.52
Investment Highlights:
* Sale Price: $6,850,000 ($280 psf)
* Total Area: 24,426 square feet
* 100% Leased (15 Units)
* Cap Rate: 6.50%
* NOI: $445,280.52
The property has been recently renovated, including the following:
* New Roof- TPO 60-mil (20 yr Product)
* "White-Boxed" vacant units (New Paint, LVP Office Flooring, bathroom fixtures)
* New Skylights/ Security Bars
* New Exterior Paint
* New Interior/ Exterior LED Lighting
Major $275K price reduction from $7,125,000 ($291 PSF) to $6,850,000 ($280 psf)
The project is 100% leased which equates to a 6.50% Cap Rate. The Net Operating Income (NOI) is $445,280.52
Investment Highlights:
* Sale Price: $6,850,000 ($280 psf)
* Total Area: 24,426 square feet
* 100% Leased (15 Units)
* Cap Rate: 6.50%
* NOI: $445,280.52
The property has been recently renovated, including the following:
* New Roof- TPO 60-mil (20 yr Product)
* "White-Boxed" vacant units (New Paint, LVP Office Flooring, bathroom fixtures)
* New Skylights/ Security Bars
* New Exterior Paint
* New Interior/ Exterior LED Lighting
Property Facts
| Price | $6,850,000 | Lot Size | 0.90 AC |
| Price Per SF | $280.44 | Rentable Building Area | 24,426 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.50% | Year Built | 1965 |
| Property Type | Industrial | Clear Ceiling Height | 12’ |
| Property Subtype | Service | No. Drive In / Grade-Level Doors | 20 |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | M1 - Light Industrial | ||
| Price | $6,850,000 |
| Price Per SF | $280.44 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Property Type | Industrial |
| Property Subtype | Service |
| Building Class | C |
| Lot Size | 0.90 AC |
| Rentable Building Area | 24,426 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Clear Ceiling Height | 12’ |
| No. Drive In / Grade-Level Doors | 20 |
| Opportunity Zone |
Yes |
| Zoning | M1 - Light Industrial |
Amenities
- Skylights
Utilities
- Lighting - Fluorescent
- Water - City
- Sewer - City
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Asking Lease Rate: $1.50/SF NNN + $0.30 Nets= $1.80/SF Unit 2232- A (977 SF) Unit 2236 (±2,050 SF)
Asking Lease Rate: $1.50/SF NNN + $0.30 Nets= $1.80/SF Unit 2232- A (977 SF) Unit 2236 (±2,050 SF)
| Space | Size | Space Use | Condition | Available |
| 1st Fl - 22236 | 2,050 SF | Industrial | - | Now |
| 1st Fl - 2232A | 977 SF | Industrial | - | Now |
1st Fl - 22236
| Size |
| 2,050 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
1st Fl - 2232A
| Size |
| 977 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
1st Fl - 22236
| Size | 2,050 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Asking Lease Rate: $1.50/SF NNN + $0.30 Nets= $1.80/SF Unit 2232- A (977 SF) Unit 2236 (±2,050 SF)
1st Fl - 2232A
| Size | 977 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Asking Lease Rate: $1.50/SF NNN + $0.30 Nets= $1.80/SF Unit 2232- A (977 SF) Unit 2236 (±2,050 SF)
1 1
Walk Score®
Very Walkable (86)
Property Taxes
| Parcel Numbers | Improvements Assessment | $567,744 | |
| Land Assessment | $4,429,694 | Total Assessment | $4,997,438 |
Property Taxes
Parcel Numbers
Land Assessment
$4,429,694
Improvements Assessment
$567,744
Total Assessment
$4,997,438
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2222-2308 W 2nd St
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