Lee & Associates - Newport Beach is pleased to exclusively offer for sale

the fully leased 4-tenant retail strip property located at 701-707 W

17th St in Santa Ana, California. The property is located at the northwest

corner of 17th Street and Heliotrope Drive, just west of the 5 Freeway and

adjacent to the Floral Park Historic District neighborhood.

This 4-tenant retail property is located in one of the most dense areas

of Orange County. It’s central Santa Ana location just off the 5 Freeway

positions it to be attractive to a variety of tenants whose customers value

ease of access. The largest tenant, Player’s Choice, occupies 59% of the

property and has been a neighborhood staple for decades. The new

Muay Thai martial arts tenant is on a 1-year test lease and is expected to

extend for a longer term. The two middle office-use tenants, insurance &

legal, are on standard 3-year NNN leases with 3-year options.

The property has upside not only in the under-market rents, but also in

passing through all NNN expenses, which is not being done by the current

owner. There is opportunity for a new owner to realize this upside by

extending leases at greater rental rates and/or tenant replacement, in

addition to more proficient property management. See the Rent Roll &

Expenses page for details.