777 W Orangethorpe Ave
Placentia, CA 92870
Property For Lease

Premier Chrysler Jeep - Redevelopment 2.72 Acres Paul Kott Realtors, Inc. Commercial Division is pleased to present an owner/user and/or investment opportunity. This is a freestanding auto dealership consisting of approx. 35,073 SF (31,873 SF warehouse, 3,200 SF office) of building situated on a 2.72 acres of land. The zoning is SP-5 (Specific Plan 5 District) that allows for many medical, retail, hotel, and entertainment uses. The property is strategically situated in a 'tri-city' four way signalized intersection with the city of Anaheim, Fullerton, and Placentia on the various corners. The tenant executed a Lease Amendment for one year ending 12/30/17 and has a one-year option to renew. The new owner can provide notice to tenant to vacate the property with a six-month notice to vacate after 5/30/17. The tenant' s rent will increase to $75,000 NNN from 12/30/17 to 12/30/18 if they exercise their one-year option. The tenant has identified a new location in the city of Buena Park to move and the property will eventually be vacant. The property was a heliport decades ago and was assumed to be a refueling station. This fueling station leaked petroleum and other contaminants underground before the current owner took possession. A superfund and underground wells have been in place for +/-30 years to stabilize the contamination. The case is scheduled to be closed by the County of Orange in December 2018. Information and updates are available online and in the marketing package. Originally built in 1986, the building is two levels, is constructed of wood-frame, stucco, block, and concrete tilt-up, offers three ADA compliant restrooms on the first level, second level office and storage mezzanine (not included in the square footage of 35,073), maintains 36 auto bays/lifts, several private offices and a show room. The subject property is located directly off the 57 fwy at Orangethorpe Ave. and 0.80 miles to the 91 fwy. It is situated in close proximity to Sam' s Club, Home Depot, and adjacent to Jack in the Box. Please see attached permitted uses and contact the city of Placentia planning department regarding future uses. **Seller Financing Available**