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New Listing: Former Chase Bank Property – Owner User/Value Add Investment Opportunity in Orange County, CA

For Sale: Former Chase Bank Property – Fullerton, CA

The Offering

Offering Price – $2,300,000
Noi To – 09/30/18 – $10,421/MO./NNN
Bldg SF – 5,317
Land SF – 16,553

Investment Summary/Highlights

Address – 1107 South Harbor Boulevard, Fullerton, CA 92832

Net Rental Monthly Income – $1.96/SF/Mo. NNN (Expires 9/30/18)

Ownership – Fee Simple

Building SF -3,684 SF (Ground Floor) | 1,633 SF (Mezzanine) | 5,317 SF (Total)

Land Area – +/-16,553 SF (0.38 Acres)

Year Built / Renovated – 1974

Zoning – C-2, General Commercial, City of Fullerton

Occupancy – 0% (Tenant vacated the property; lease expires 09/30/18)

APN – 032-284-13

Parking – 19 Stalls (3.57/1,000 SF) plus adjacent shared parking*

Traffic Counts:   +/-39,000 VPD Harbor Blvd |+/-65,000 VPD Harbor Blvd & Orange Thorpe Ave

Tremendous Value Add or Redevelopment Opportunity in Fullerton, CA:
The property is located on Harbor Blvd. in the city of Fullerton, CA. It consists of a 5,317 square foot Bldg. (3,684 SF GL & 1,633 SF Mezz) on 16,533 SF of C-2 zoned land. In addition, the property benefits from grandfathered C-2 permitted use parking ratio requirements with existing bldg. and short-term cash flow from recently vacated Chase Bank who continues to pay $10,421/Mo./NNN thru 09/30/18.

Desirable Urban In-Fill Orange County CA Location:
The property benefits from a desirable Urban In-Fill trade area in northern Orange County with an ethnically diverse population of +/-121,468, Avg. HH Income of $78,078 and day time population of 50,113 within a two mile radius. In addition, the property benefits from strong synergy from neighboring tenants, three easy access points, and clear line of sight visibility from the +/-39,000 VPD on Harbor Blvd.

National Retail Corridor:
The property is located within the heart of Fullerton’s primary retail district offering an array of shopping and dining choices including the Fullerton Metro center anchored by Sprouts, Orangefair Marketplace anchored by Best Buy and Fullerton Town Center anchored by Costco.

Active New Development/Redevelopment Trade Area:
With over 525 new apartment units recently completed or under construction within 1/2 mile of the property (e.g. 323-unit Alexan Aspect Luxury Apartments project and 142-unit Harbor Walk Apartments) as well as new incoming retail / food use tenants along Harbor Blvd., the property is well positioned to benefit from this vibrant and upward trending trade area.

Contact Information:

Dan Riley
Sr Vice President
Lic. 01057519
+1 310 363 4899
dan.riley@cbre.com
Austin Wolitarsky
Associate
Lic. 01957206
+1 310 363 4922
austin.wolitarsky@cbre.com 

 

Bill Durslag
Senior Vice President
Lic. 00498427
+1 213 613 3106
mark.mcgaughey@cbre.com 

 

 

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