Property Overview:
This NNN-leased investment property, fully renovated in 2019, is situated on a prominent corner parcel and currently houses a well-regarded Mexican seafood restaurant run by an experienced multi-store operator. Previously, the site served as a fast food establishment with a drive-thru. The property is adjacent to newer retail developments and numerous restaurants along Goldenwest Street (see attached list of neighboring businesses). It boasts excellent exposure, high traffic, easy access, and 31 parking spaces. The lease includes a 5% annual rent increase with CPI adjustments and is a NNN-lease, meaning the lessee covers all property expenses.
This property offers an exceptional investment opportunity. Compare the value of the land alone, considering its size and prime location, to fully appreciate the unique potential this investment presents.
Location Description:
The City of Westminster, with a population of about 90,000, is centrally located in Orange County, approximately 24 miles southeast of Los Angeles. Covering an area of 10.1 square miles, Westminster was established in 1870 when 6,000 acres were purchased from the Stearns Rancho, and 40-acre parcels were sold to families. Over time, the city transitioned from agricultural use to residential and commercial development. Incorporated in 1957, Westminster earned the title of All-American City in 1996 for its many civic accomplishments.
Westminster is positioned near Anaheim and is bordered by Los Alamitos and Garden Grove to the north, Santa Ana to the east, Fountain Valley and Huntington Beach to the south, and Seal Beach to the west. Goldenwest Street, a major north-south artery, provides access to the 405 Freeway to the south and the 22 Freeway to the north, with traffic counts exceeding 40,000 vehicles per day. Additionally, Westminster Boulevard serves as a significant east-west corridor.
