$1,860,000

The subject property is a ±25,165 SF (Gross) parcel of industrial land located at 1540 E. Edinger Avenue in the city of Santa Ana. Part of a larger office/industrial development, the property is located on the south side of Edinger Avenue just east of Grand Avenue and is situated less than a mile to the west of the 55 freeway. Previously, there had been an office building located on this property although several years ago the building burned down. There is currently a recorded office condominium map in place along with a full set of CCRs that would allow for the construction of a two-story 16-unit office condominium project of approximately 7,840 SF. Zoning on this site is M-1 Light Industrial and the General Plan Land Use Designation is Industrial. The purpose of the Industrial designation is to provide space for activities such as light/heavy manufacturing, warehousing, processing and distribution as well as commercial uses ancillary to industrial activities. Industrial designations typically allow for buildings with a Floor Area Ratio of up to 0.45 with typical height limits of 35’. This property is flat and rectangular in shape with gross dimensions of 105.1’ of frontage along Edinger Avenue and a depth of 230’. The northerly 30’ of the parcel and the easterly 13’ of the parcel are covered by ingress/egress easements to the benefit of the other buildings in this complex and these two shared drive aisles compose approximately 5,733 square feet of the site. The site also includes 47 open parking spaces situated around the perimeter of the parcel. There are cross parking easements in place that allow other tenants to utilize these spaces while also allowing the owner of this property to utilize the other parking areas of the neighboring buildings. The industrial land market in Santa Ana is extremely supply-restricted. Additionally, this site benefits from great frontage along Edinger Avenue and a location that is less than a mile to the 55 freeway.