Strip Mall with Vacant
New
For Sale
$2,200,000
12273 Westminster Avenue, Garden Grove, CA 92703
Retail center with occupied units, available space, and on-site parking for customer and tenant use.
Property Size3,300 SF
Lot Size0.50 Acres
Price / SF$305.56
Days on Market4
Property Features for 12273 Westminster Avenue
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
20
Lot size
0.50 Acres
Property subtype
COMMERCIAL
Building Details
Building Size
3,300 SF
Year Built
1958
Listing Agency:
JohnHart Corp.
Listed By:
Victor Ahn · License #01911997
Source:
Stephanieyounggroup
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 10 at 2:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JohnHart Corp.
Investment Insights
Based on property information with market context.
This strip mall contains over 7,200 square feet of building space on nearly half an acre. Approximately 2,600 square feet is expected to be delivered vacant, while the balance consists of occupied units that provide existing rental income. The layout supports continued multi-tenant retail use as well as an owner-user configuration.
The property includes approximately 20 uncovered on-site parking spaces, street frontage, and access to major streets. Built in 1958, the center offers a combination of leased space and near-term availability within an established commercial property.
The property includes approximately 20 uncovered on-site parking spaces, street frontage, and access to major streets. Built in 1958, the center offers a combination of leased space and near-term availability within an established commercial property.
Key Highlights
- Over 7,200 square feet of building space
- Approximately 2,600 square feet to be delivered vacant
- Nearly half an acre of land
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$115,925
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,318,500
$2.3M
Cap Rate 7%
$1,656,071
$1.7M
Cap Rate 9%
$1,288,056
$1.3M
Market Conditions
NOI Build-Up for 7,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$177.1K $24.60/SF
− Vacancy
−$11.5K −$1.60/SF
EGI
$165.6K $23.00/SF
− OpEx
−$49.7K −$6.90/SF
NOI
$115.9K $16.10/SF
Area
ZIP 92703
Vacancy
6.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,318,500
Cap Rate 7%
$1,656,071
Cap Rate 9%
$1,288,056
Alternative Uses
Best Use
Retail
$1.66M
$1.45M – $1.93M
NOI $115,925 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,874 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
13,973 visits/mo
0.3 miles
Shell
Shops & Services
10,308 visits/mo
0.4 miles
ARCO
Shops & Services
7,433 visits/mo
0.3 miles
Demographics for 92703, CA
65,621
Population
14,644
Households
4.5
Avg Household Size
34
Median Age
13%
College-Educated
60%
High-School Grad
4.2 sq mi
ZIP Area
15,624
Density / Sq Mi
$80,817
Median Household Income
$33,363
Median Earnings
$1,922
Median Rent
$585,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail center with occupied units, available space, and on-site parking for customer and tenant use.
Where is this strip mall located?
The property is located at 12273 Westminster Avenue Garden Grove, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Over 7,200 square feet of building space; Approximately 2,600 square feet to be delivered vacant; Nearly half an acre of land
