Prime Retail Shopping Center
For Sale
$2,995,000
160 Olinda Place, Brea, CA 92823
Retail shopping center with redevelopment and expansion potential.
Property Size12,000 SF
Lot Size3.68 Acres
Price / SF$249.58
Days on Market1054
Property Features for 160 Olinda Place
General Information
Standard status
Active
Size
12,000 SF
Lot size
3.68 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1966
Listing Agency:
RE/MAX MASTERS REALTY
(909) 364-8380
Listed By:
Eric Eide · License #01207980
(714) 785-2557
Source:
Exitrealty
Added: Dec 1, 2023
Changed: Oct 15
Last Checked: Oct 14 at 9:08PM
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 RE/MAX MASTERS REALTY
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Investment Insights
Based on property information with market context.
This retail shopping center, situated in a sought-after location, presents an investment opportunity. The property is located in a high-traffic area with visibility and accessibility. The shopping center has +/-12,000 square feet of space on a 3.68 acre lot. The tenant mix includes retail, dining, and service businesses. There are approximately 150 parking spaces. Deferred maintenance offers the opportunity to renovate and modernize the property, potentially increasing its leasing appeal and rental income. This could involve upgrading the façade, parking lot, enhancing landscaping, or improving common areas. Opportunities for expansion or redevelopment are available, allowing for additional revenue streams. Within the existing Neighborhood Commercial (C-N) zone, a senior living facility is permitted with the approval of a conditional use permit (CUP). A rezone to Single Family (R-1) is the most intensive residential density the City may be supportive of. Currently, the maximum density in the R-1 zone is 6 dwelling units per acre. A zone change would also require a general plan amendment, which is a legislative request that requires city council approval. At a minimum, this type of project application would require the preparation of an initial study by one of our environmental consultants to assess what type of environmental review is warranted. Buyers are advised to check with the City for all development possibilities!
Key Highlights
- Prime retail shopping center in a high‑traffic location with excellent visibility and accessibility.
- Diverse tenant mix of retail, dining, and service businesses.
- Ample parking with approximately 150 spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$272,644
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,452,880
$5.5M
Cap Rate 7%
$3,894,914
$3.9M
Cap Rate 9%
$3,029,378
$3.0M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$403.2K $33.60/SF
− Vacancy
−$13.7K −$1.14/SF
EGI
$389.5K $32.46/SF
− OpEx
−$116.8K −$9.74/SF
NOI
$272.6K $22.72/SF
Area
Orange County, CA
Vacancy
3.40%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,452,880
Cap Rate 7%
$3,894,914
Cap Rate 9%
$3,029,378
Alternative Uses
Best Use
Retail
$3.89M
$3.41M – $4.54M
NOI $272,644 @ 7.0% cap · market cap 9.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,139 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 92823, CA
6,010
Population
1,973
Households
3
Avg Household Size
42
Median Age
63%
College-Educated
96%
High-School Grad
7.5 sq mi
ZIP Area
801
Density / Sq Mi
$176,543
Median Household Income
$82,301
Median Earnings
$3,501
Median Rent
$1,061,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Olinda Village Retail Center — 120 Olinda Pl, Brea, CA 92823
Frequently Asked Questions
What type of property is this?
Shopping center - Retail shopping center with redevelopment and expansion potential.
Where is this shopping center located?
The property is located at 160 Olinda Place Brea, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Prime retail shopping center in a high‑traffic location with excellent visibility and accessibility.; Diverse tenant mix of retail, dining, and service businesses.; Ample parking with approximately 150 spaces.
