Azusa, CA 91702,843 W Arrow
Azusa, CA 91702,843 W Arrow
Azusa, CA 91702,843 W Arrow
15
$2,200,000
$2,375,000
7.4%
Est.Price: ?

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3,800 SqFt

843 W Arrow Azusa, CA 91702

Est. payment /mo
SOLD DATE : 10/04/2024

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Key Details

Sold Price $2,200,000

Property Type Commercial

Sub Type Retail

Listing Status Sold

Purchase Type For Sale

Square Footage 3,800 sqft

Price per Sqft $578

MLS Listing ID GD23209465

Sold Date 10/04/24

HOA Y/N No

Year Built 1970

Lot Size 0.807 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 607 - Azusa

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Fireplace No

Laundry None

Exterior

Present Use Commercial

Building

Lot Description 0-1 Unit/Acre, Street Level

Story 1

Water Public

Others

Tax ID 8619013047

Financing Cash to Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Krikor Garabedian • Keller Williams R. E. Services • 818-298-8810
Bought with Krikor Garabedian • Keller Williams R. E. Services

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Nicole Parent

Broker Associate | License ID: 01827226

+1(559) 930-7171

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