735 E Arrow Hwy
Azusa, CA 91702
Retail Property For Sale

Almost 1/2 Acre Prime Commercial Retail/Office Shopping Center in high traffic area of Azusa and part of a favorable Arrow Highway Corridor Zoning (CAH). This center has Two Free Standing Buildings but feels like it has 3 Buildings due to the Private Back 3 Unit Suite. The Property has a total of 9 Units/Suites. Rent roll can emailed upon request. This is a perfect 1031 Exchange Property. CHECK WITH CITY TO SEE IF CAN BE USED FOR MARIJUANA SALES. Well established long term tenants paying below market rents. Most leases are Month to Month and can be extended if requested. Most Tenants would like to continue to stay at the property and will sign longer term leases. However, due to the amazing potential of the property, we have left it open for a Buyer to decide. This is an Investor's Dream Property. The Property has a Proforma cap close to 6%. Actual Gross Annual Cash flow is approximately $74,000 and the Proforma Gross Cash Flow around $91,800. Thus, if you kept the property the way it is now, you will make decent income. However, the property has great Development Potential due to its large lot (almost 1/2 acre) and favorable zoning (CAH). The CAH zoning or the Arrow Highway Corridor Zoning allows for a wide range of office and retail uses as well as Residential Uses such as Multi-Family. The City may also allow Mixed Use Developments, Vehicle Related Services and Drive Through Facilities. All potential Buyers should contact the city to verify any and all uses. Thus, the zoning may allow for a multitude of uses including commercial, mixed use, and residential. I have attached the General Plan and Zoning map to this listing Finally, the Property is located on popular Arrow Highway at the southern end of the City of Azusa. It borders Covina to the south and is near the I-10, I-210 and 57. It also driving distance from Azusa Pacific University and Citrus College and great retailers like Lowes, AMC, Costco, and Skyzone. Do not let this Opportunity slip away. It is not often you get a Favorable Zone Large Lot property that makes decent income.