Remarks

We are pleased to present a fast food restaurant property in Azusa, California situated on a large 35,000 square foot lot. The building is approximately 3,800 square feet and includes all of the operational fixtures and buildouts of a high-volume fast food restaurant, including a drive through, large commercial kitchen, expansive dine-in area and even a storage basement.

The zoning of the property is CAH – Corridor Arrow Highway, which is specific to the City of Azusa. This zoning allows for a wide range of both commercial land residential uses. Everything from a Medical Laboratory, to a fitness facility to catering services can be accommodated under the CAH zoning (buyer to verify). Additionally, mixed use projects and residential development is also encouraged; based on our preliminary estimates anywhere from 25 to over 30-units can potentially be built on this zoning with this lot size (buyer to verify).

As it stands, the property has 46 parking spaces, which equates to a 13-to-1 parking ratio. With that level of parking the possibilities for an investor or owner-user are tremendous. From an investment standpoint, assuming a proforma rent of $3.00/NNN this property can deliver a 5.75% cap rate. For a developer, $68/SF for land cost is a bargain in the San Gabriel valley. For an owner-user, at SBA rates still being offered at attractive rates and terms, this is a rare opportunity.

Details

MLS#: GD23209465
Price: $2,375,000

Sq Ft: 3800.00
Year Built: 1970

County: Los Angeles