Investment Sale-6% Cap Rate-93% Leased!
24,426 SF | 82% Leased | Industrial Building | Santa Ana, CA 92703 | $7,125,000 ($292/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,125,000
- Property Type
-
Industrial
- Price / Square Foot
- $292
Listing Contacts
Steven Pearson
Verified Profile
Mike Barreiro
Verified Profile
Devin Ray
Verified Profile
- Property Info
Property Overview
Just Listed For Sale! This prime multi-tenant industrial property located in Santa Ana, California, presents a lucrative investment opportunity in the heart of Orange County's thriving commercial landscape. This property is currently 93% leased with 14 out of the 15 industrial units leased at $1.45/SF NNN + $0.30 Nets. All leases we’re recently signed in Q1 2024 on the AIR Standard Industrial Multi-Tenant-NNN lease form.
For investors seeking a stable income stream and long-term capital appreciation, this multi-tenant industrial property in Santa Ana offers an attractive investment proposition. With its favorable cap rate, high occupancy, and strategic location, it represents a prudent choice for exchange buyers looking to diversify their real estate holdings while maximizing returns.
Investment Highlights:
• Purchase Price: $7,125,000 ($291 psf)
• Total Area: 24,426 square feet
• 93% Leased
• Proforma Cap Rate: 6%
• Existing Cap Rate: 5%
• Year 1 NOI: $425,012.40
• Year 2 NOI: $442,012.89
• 14 New AIR NNN Leases Signed at $1.45/SF NNN + $0.30 Nets ($1.75 psf)
The Property has been fully renovated! New Improvements Include:
• New Roof- TPO 60-mil (20 yr Product)
• New Skylights/ Security Bars
• New Exterior Paint
• New Exterior LED Lighting
• Cloud Based Security Cameras
• Asphalt/Concrete Repair
For investors seeking a stable income stream and long-term capital appreciation, this multi-tenant industrial property in Santa Ana offers an attractive investment proposition. With its favorable cap rate, high occupancy, and strategic location, it represents a prudent choice for exchange buyers looking to diversify their real estate holdings while maximizing returns.
Investment Highlights:
• Purchase Price: $7,125,000 ($291 psf)
• Total Area: 24,426 square feet
• 93% Leased
• Proforma Cap Rate: 6%
• Existing Cap Rate: 5%
• Year 1 NOI: $425,012.40
• Year 2 NOI: $442,012.89
• 14 New AIR NNN Leases Signed at $1.45/SF NNN + $0.30 Nets ($1.75 psf)
The Property has been fully renovated! New Improvements Include:
• New Roof- TPO 60-mil (20 yr Product)
• New Skylights/ Security Bars
• New Exterior Paint
• New Exterior LED Lighting
• Cloud Based Security Cameras
• Asphalt/Concrete Repair
Property Details
- Class
- C
- Year Built/Renovated
- 1965/2022
- Stories
- 1
- Property Subtype
- Service, Distribution, Manufacturing, Warehouse
- Lot Size (sq. ft)
- 39,204 SF
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