663 Placentia Ave Placentia, CA 92870
- Retail properties
- 3,300 SF
- 2.08 lot acres
Current Use by Public Records
- Retail properties
Property Details for 663 Placentia Ave
- Year built
- 2020
- Lot size
- 2.08 lot acres
- Property size
- 3,300 SF
- Property type
- Retail properties
Description
This exceptional retail investment opportunity presents a 3,300 square foot, single-tenant Farmer Boys restaurant on a 2.08-acre lot in Placentia, CA. Built in 2020, the property boasts a strong, credit-rated tenant with approximately 16 years remaining on a triple-net (NNN) lease, ensuring consistent cash flow. The property is 100% occupied and benefits from a 5.00% cap rate and a sale price of $4,076,000 ($1,235.15/sq ft). The location within the Fullerton Crossings shopping center, shadow-anchored by a Home Depot and Sam's Club, provides significant daily traffic. The property's value is further enhanced by two vacant development pads, totaling approximately 16,910 square feet, which are entitled for construction. These pads offer substantial upside potential for additional income through development or ground lease. The property is free and clear of existing debt, facilitating a quick close. The surrounding area shows excellent housing growth, with over 6,600 housing units within one mile and a recently approved development adding 329 more residential units nearby. The land value alone is $14 per square foot. This is a rare opportunity to acquire a high-performing, income-producing asset with significant future development potential in a prime Orange County location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Placentia
- County
- Orange
- State
- California
- Longitude
- -117.882
- Latitude
- 33.8655
