First Street Plaza | Rare OC Shopping Strip
3520 W. First Street, Santa Ana, CA 92703
Property Description
Price: $4,485,000
Price Per/SF: $593.25
Land Area: ±30,771 Square Feet
Cap Rate: 5.75%
Gross Leasable Area: ±7,560 Square Feet
Year Built: 1978
Investment Highlights
High-Visibility Retail Strip Center in a Prime Santa Ana Location – Excellent Exposure on W. First Street (±30,000 Cars Per Day)
Ample Parking Availability – The Subject Property Features Both Front and Rear parking with 37 Total Spaces, Providing a Favorable Parking Ratio of 4.89 spaces per 1,000 SF
Excellent Real Estate Fundamentals – Daytime Population Counts Exceed 799,000 Within a 5-Mile Radius
Rare Orange County Shopping Strip
- Established Tenancy – Multiple Tenants Have Occupied The Property For Nearly 40 Years, Reflecting Strong Tenant Commitment to the Location | New Tenants are Experienced Operators with Multiple Locations Under Management
- Long-Term Leases with Annual Increases – Most Tenants Have Annual Rental Escalations, Providing for an Excellent Hedge Against Inflation
- Improvements Underway – Seller Improvements Include Updated Tenant and Property Signage, Fresh Paint, And Various Other Upgrades, Enhancing Curb Appeal And Long-Term Value
Strong Real Estate Fundamentals
- Dense, Infill Area – Population Counts Exceed 738,000 Within 5 Miles and Average Household Income Exceeds $106,000 Within 5 Miles
- Proximity To Harbor Boulevard – Located One Block from Boulevard, A Key Commercial Artery In Santa Ana, Enhancing Accessibility And Traffic
- Strategic Location Near Major Freeways – Centrally Located Near The 22, 405, 55, And 5 Freeways, Offering Easy Access For Customers And Tenants
- Multiple Points of Ingress and Egress Along W. First Street
Contact Information
Ron Duong
Tom Gioia
Senior Vice President (Lee & Associates)
License: CA 01219394
License: CA 01219394