Feliz Plaza
26,144 SF | 100% Leased | Retail Building | Whittier, CA 90605 | $7,795,000 ($298/SF) | 6.18% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,795,000
- Property Type
-
Retail
- Square Feet
- 26,144 SF
- Price / Square Foot
- $298
Listing Contacts
Cameron Hale
Verified Profile
- Property Info
Property Overview
The subject property is a 26,144 square foot, multi-tenant retail center located in the highly desirable Whittier Santa Fe Springs market. The center is 100 percent leased to 20 Long-Term Tenants. The building sits on a sizable 1.57 Acre lot with excellent parking, visibility, and access. The nearby intersection of Telegraph Rd and Carmenita Rd serves as a bridge between South Whittier and the affluent North Whittier. The property enjoys multiple ingress and egress points with access from Telegraph Rd. One Large Pylon Sign gives further appeal and visibility to the center. The subject property is located in the high commerce South Whittier/Santa Fe Springs trade area. It is located between two major commercial arteries, Carmenita Rd/Painter Ave and Florence Ave/Mills Ave, within 3.0 miles of the 605. The shopping center is located on the morning side of Telegraph Rd which leads directly to the 605 freeway.
There are a multitude of national retailers in the area including the highly successful Gateway Plaza less than 1/2 mile to the West. Other retailers in the area include Aldi, Walmart, Target, Food 4 Less, WSS, DDS Discount Store, and many more. The demographics in the immediate area are one of the reasons for such retail success. Within a 3 mile radius of the subject property we find a population of over 193,274 with an average household income of over $96,911. New Development in the area has further enhanced the immediate trade route with the opening of a brand new Raising Canes just two parcels east, and a WSS. Feliz Plaza is being offered with the opportunity to capitalize on the new development in the area with below market rents!
There are a multitude of national retailers in the area including the highly successful Gateway Plaza less than 1/2 mile to the West. Other retailers in the area include Aldi, Walmart, Target, Food 4 Less, WSS, DDS Discount Store, and many more. The demographics in the immediate area are one of the reasons for such retail success. Within a 3 mile radius of the subject property we find a population of over 193,274 with an average household income of over $96,911. New Development in the area has further enhanced the immediate trade route with the opening of a brand new Raising Canes just two parcels east, and a WSS. Feliz Plaza is being offered with the opportunity to capitalize on the new development in the area with below market rents!
Property Details
- Class
- C
- Year Built/Renovated
- 1987/2023
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 68,389 SF
Highlights
- High-demand retail property with small unit sizes and low all-in rent costs for tenants
- Offered below replacement cost at $298/SF
- Located in the heart of South Whittier within walking distance of many national tenants
- Professionally managed property with most tenants on AIR NNN leases
- Significant upside potential through raising below market rents and converting MG leases to NNN
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