242 Commonwealth AveFullerton, CA 92832

Property Details for 242 Commonwealth Ave

Year built

1973

Lot size

0.31 AC

Property size (Sq ft)

260 SF

Property type

Gas stations

APN

033-032-26

APU

3303226

Description

This exceptional 13,504 square foot commercial land parcel, located at 242 E Commonwealth Avenue in Fullerton, California (APN 033-032-26), presents a compelling investment opportunity. Zoned SPD, this property boasts a highly visible corner location at the signalized intersection of Commonwealth and Lemon Streets, ensuring excellent exposure for any future development. The site's previous use as a convenience store and gas station (gas station use is no longer permitted) makes it ideally suited for a variety of commercial ventures. The property's prime location offers significant advantages, including proximity to the Fullerton Transportation Center and the amenities of Downtown Fullerton, enhancing its appeal to potential businesses and customers. This is a rare chance to acquire a substantial parcel of land in a thriving area, perfect for projects requiring high visibility and convenient access. The site's potential uses include, but are not limited to, drive-thru businesses and EV charging stations. This is a remarkable opportunity to capitalize on the strong demand for commercial development in this desirable Fullerton location. The asking price is $2,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $82,889

  6.5%

  $76,513

  7%

  $71,048

• Comparable approach

  Method

  Valuation

  Relative Method

  $120,948

  Geo Method

  $127,233

• Alternative Use

  Use

  Valuation

  Residential

  $64,542

  Hospitality

  $59,120

  Educational

  $49,187

  Medical

  $50,879

  Retail

  $76,513

Location Insight

City

Fullerton

County

Orange

State

California

Latitude

33.87

Longitude

-117.92

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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