Item 17 - Bristol Street and Memory Lane Intersection Improvements

Home Browse Search

Summary of Comparable Land Sales Sale Date; SF; $/SF No. Name/Address Status Sale Price Acres Zoning Land 1 3036 W Lincoln Ave Sep-21 $1,890,000 30,056 MU- Mixed Use $62.88 Anaheim Closed 0.69 Orange County CA Comments: This is the sale of a vacant parcel located midblock near the intersection of Beach Blvd and Lincoln Ave. It is zoned for mixed use development with a maximum density of 60 units per acre. The seller's broker reports that the buyer plans to hold for future development. Surrounding improvements include a mix of commercial and residential uses. 2 2192 SE Bristol St Aug-21 $1,702,500 17,916 CN, $95.03 Newport Beach Closed 0.41 Neighborhood Orange County Commercial CA Comments: The is the sale of a former Enterprise Rent A Car location, located midblock on Bristol Street. The buyer is Fletcher !ones Motorcars, which owns adjacent properties. The site is improvements with asphalt paving and perimeter fencing. The buyer will use the site for parking, airport shuttle and car washing. The broker reports that they received numerous offers and that the sales price was a fair market price. 3 The Corner Jun-21 $3,000,000 22,651 CC, Community $132.44 17025 Brookhurst St Closed 0.52 Commercial Fountain Valley Orange County CA Comments: This is the sale of a 0.52 acre lot located on the corner at Brookhurst and Warner. This is one of the busiest intersections in the trade area and has potential for multiple uses. This is an outparcel to Sam's Club and is located nearby other top tier retailers such as 24 Hour Fitness, Habit Burger and Fountain Valley Bowling, etc. The broker reports that the buyer plans to develop a mixed -use, office and retail building on the site. The property sold without entitlements in place. 4 232 E Katella Ave Jun-21 $2,344,000 25,252 CP, Commercial $92.82 Orange Closed 0.58 Prof. Orange County CA Comments: This is the purchase of a previously improved commercial lot with a midblock location on Katella Avenue. The buyer acquired the land to develop a pre-school. They are currently finalizing entitlements with the City. The seller purchased the site in 2018 with the intention to develop an office/medical building but decided to sell due to the demand in the Market. Surrounding improvements include commercial properties along Katella Avenue and residential improvements on interior streets. 5 6100-6172 Beach Blvd Mar-21 $1,200,000 12,197 GMU (General $98.38 6172 Beach Blvd Closed 0.28 Mixed Use) Buena Park Orange County CA Comments: This is the purchase of four parcels totaling .28 acres of vacant land. It is reported that permits for the site are Ready -To -Issue (RTI) for the construction of a four -unit mixed -use development totaling approximately 5,940 SF with two live/work suites with residential units totaling approximately 2,199 SF above approximately 3,741 SF of total commercial space, 18 on -site parking spaces, and related site improvements. Surrounding improvements along Beach Blvd. include older commercial uses and auto dealerships. Residential improvements are located on interior streets. 6 1904 1st St Aug-20 $1,450,000 17,424 General $83.22 Santa Ana Closed 0.40 Commercial Orange County CA Comments: This is the purchase of a site previously improved with a restaurant. The property has been vacant for 2 years and was sold for land value. The broker reports that the buyer plans to build a gas station and convenience store on the lot. There were no entitlements in place at the time of sale. Subject 19,839 C1 Metro Star, LLC 0.46 Santa Ana, CA Page 8