13072 Century Blvd Garden Grove, CA 92843-1210
- Auto shops
- 5,893 SF
- 0.42 lot acres
Dec 10, 2024
Current Use by Public Records
- NEW CENTURY SMOG CHECK STATION / Smog Inspection Station
Property Details for 13072 Century Blvd
- Year built
- 1955
- Lot size
- 0.42 lot acres
- Property size
- 5,893 SF
- Property type
- Auto shops
- APN
- 099-091-36
- APU
- 9909136
Description
This exceptional Garden Grove investment opportunity presents a 6,325 square foot multi-tenant auto center situated on a spacious 18,235 square foot lot (APN: 099-091-36). The property boasts a strong current NOI of $106,510, yielding a 5.68% cap rate, with significant upside potential. A pro-forma cap rate of 8.61% and pro-forma NOI of $161,465 reflects the value-add potential from current rents being 25-50% below market. All tenants are on month-to-month or short-term gross leases, providing immediate access to increased income. The property features a 100% occupancy rate with multiple tenants exhibiting 15+ years of occupancy. Extensive renovations were completed between 2020 and 2022, including a new roof, roll-up bay doors, exterior paint, asphalt and ADA parking lines, and a new chain link and rolling front gate. Built in 1955, this fee-simple property is ideally located in the heart of Garden Grove, near the Civic Center, Home Depot, Costco, Coastline College, and Cal State Fullerton, benefiting from a dense population and strong average household income exceeding $101,560 within a 5-mile radius. The asking price is $1,875,000 ($296.44/SF). This is a rare opportunity to acquire a well-maintained, high-demand property with substantial upside potential in a prime Garden Grove location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,700,000
- ML approach
- $1,700,000
-
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $2,200,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $2,765,000 Change: +26% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,640,000 Change: +20% Conversion: Moderate
- OFFICE BUILDING
- $2,530,000 Change: +15% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $2,025,000 Change: -8% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Garden Grove
- County
- Orange
- State
- California
- Longitude
- -117.943
- Latitude
- 33.7733
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
