600 W Freedom Ave
Listing Price: $2,475,100.00
Marcus & Millichap is pleased to present a rare 100% leased, single tenant Industrial/Flex investment opportunity in the supply constrained Industrial submarket of Orange, CA. Located at 600 W Freedom Avenue, the property consists on an approximate 7,282 square foot building situated on an approximate 0.45 acre M-1 zoned parcel in the Freedom Business Park. Built in 1986, this industrial building is concrete tilt-up construction on a poured concrete slab. The subject property has open surface parking with +/- thirteen (13) parking spaces or 1.79 per 1,000 SF. Additional building specs include: three (3) ground level loading doors (14’ High x 12’ Wide), 17’-18’ clear height, and 400AMP/3P power.
The building is currently 100% occupied by Garnder Pool Company, a 50+ year business specializing in residential and commercial pool and spa renovations. With just under 5-years of remaining lease term and one additional 5-year option to extend, an investor can expect stable income stream into the future. Additionally, there are annual 3% escalations throughout the primary term and option period as well as a fair market value rental adjustment at the beginning of the option providing a hedge against inflation. This is a prime opportunity for an investor to acquire a secure investment with upside in an infill industrial sub-market that has seen continued high demand, low vacancy (1.4% market vacancy factor) and 9.5% year over year annual rent growth.
• Size: Spanning approximately 7,282 square feet, this spacious industrial building provides versatile accommodation for a wide range of businesses
• Tenant: The property is 100% leased to Gardner Pool Company, a reputable and established business in the region, ensuring a steady and reliable income stream for a prospective buyer
• Lot Size: Situated near a cul-de-sac in a Business Park Environment, the property is positioned on a generous 0.45-acre M-1 zoned lot
• Year Built: The building was constructed in 1986
• Parking: With a parking ratio of 1.79 spaces per 1,000 square feet and additional street parking, tenants and visitors will find abundant parking options to accommodate their needs conveniently
• Power Supply: The property features a robust power infrastructure with 400 amps/220 volts, 3- phase, 4-wire electrical supply, making it suitable for most heavy power requirements
• Clear Height: The building offers a substantial 17-18 feet clear height, providing ample vertical space for efficient storage and handling of goods
• Office Build-Out: Boasting a well-thought-out layout, the property features a 32% office build-out, offering a functional blend of space including a reception, conference room and breakroom/kitchen
Nestled in Orange, California, this property enjoys a strategic location with easy access to major transportation routes, including highways and freeways, facilitating seamless connectivity to neighboring cities and beyond. The thriving community and business-friendly atmosphere make Orange an ideal place for any commercial venture. The property benefits from excellent demographics with a population of over 564,893 with an average household income of $115,791 within a 5-mile radius.