Seafood Cove – Freestanding Restaurant Building in Little Saigon
8551 Westminster Avenue, Garden Grove, CA
Closing Notes
All Cash Closing
Secured Local Buyer who was Non-Contingent on Day 1
Property Description
Price: $1,950,000
Price Per/SF: $531.77
Land Area: ±14,401 SF
Gross Leasable Area: ±3,667 SF
Year Built: 1966
Investment Highlights
Freestanding Restaurant Building Investment Opportunity – An Extremely Rare Offering in the Highly-Coveted Little Saigon Area of Garden Grove & Westminster, CA
Excellent Visibility from the Signalized “Main & Main” Intersection of Westminster Avenue and Newland Street – Traffic Counts Exceed 55,000 Cars Per Day
High Profile Location with Outstanding Pylon Signage on Westminster Avenue
Rare Little Saigon Restaurant Offering
- 130+ Feet of Frontage Along Westminster Avenue, a Main Thoroughfare Through Little Saigon
- The Subject Property Features Prominent Pylon Signage that is Visible From Traffic in All Directions
- Excellent Upside Available – The Subject Property Features a Short-Term NNN Lease, Allowing for Occupancy by an Owner/User or Investors to Quickly Re-Tenant at Higher Rents
- Little Saigon in Orange County, CA is Home to Over 200,000 Vietnamese Americans, or 10% of the entire Vietnamese American Population | This Region Also Includes 4,000 Businesses, 390+ Restaurants, and Millions of SF of Commercial Properties
Strong Real Estate Fundamentals
- Ingress and Egress Available on Both Westminster Avenue and Via Rear Alleyway
- Close Proximity to the Area’s Major Freeways (22 and 405 Freeways) | Located ½ Mile from Beach Boulevard
- Dense, Infill Area – Population Counts Exceed 663,972 Within 5 Miles
- Strong Average Household Income of $111,022 Within 5 Miles
- Close Proximity to a Number of Little Saigon’s Most Popular Local Businesses as well as Credit Tenants Including Stater Bros., 7-Eleven, and AutoZone
Contact Information
Ron Duong
Senior Managing Director Investments
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643
Senior Director, National Retail Group
(949) 419-3233
[email protected]
License: CA 01438643