MLS® ID: DW19018609
327 S Lemon Street
Anaheim, California, 92805 $399,999
Active Under Contract
Real estate property is being sold and not the business. Property is located in a historic area, per City of Anaheim's preservation dept, the mural painting must remain and be preserved. Current tenant operates property as a connivence market with beer, wine, smoke and lotto sales. Tenante has 4 years remaining on existing lease with an option for another 5 year lease term, possible tenant for 9 years. Cap rate is estimated at 4.5% factoring in new property tax and insurance expenses only, buyer to verify and approve all financials. Tenante pays all utilities and landscape maintnance. Property consists of a 2,191 square feet structure on a 6,074 square foot lot with 8 on-site parking spaces. Property is located directly across the street to a city park, attracting many consumers to the convenience store. Located in a high demand area, walking distance to Anaheim's Packing District and Farmers Market. Property is in need of upgrades and TLC, sold as is condition, no repairs or termite, priced accordingly. Great opportunity to redevelop this unique property into a "higher and better use" once lease expires and benefit from increase rents or for a business owner user.