Downtown Santa Ana is quickly returning to its roots as the epicenter of Orange County’s urban lifestyle experience and is developing into a trendy urban live/work/play neighborhood akin to the recent emergence in Los Angeles, Long Beach and San Diego in California, as well as in such out-of-state cities as Portland, Brooklyn and Austin. Under a great transformation Santa Ana is capitalizing on the city’s rich history and cultural ties to the regional community to re-imagine downtown and to create a Vertical Urbanization centering on walk-ability and proximity to work, public transportation, and quality-of-life amenities. Lee & Associates-Orange (“L&A”) has been retained by Caribou Industries, Inc, (the “Owner”), as its exclusive agent to secure a qualified buyer for a once-in-a-lifetime investment opportunity to purchase the Original Mike’s restaurant building and surrounding parking lots at 100 S. Main Street in Downtown Santa Ana. The property is the entire city block which consists of a restaurant building, nine (9) rooftop apartments, and the surrounding parking lots, The Original Mike’s historic restaurant building contains ±15,856 SF of GLA and consists of a 420 seat restaurant with a 644 person capacity with the patio, type 47 liquor license, which allows for live entertainment, music until 2 am, and a large dance hall with state of the art lighting and sound equipment. The nine (9), second-story apartments, are studio apartment units, that generate nearly $6,900 in monthly rental income and are an opportunity to further increase monthly cash flow through rental increases. The entire site and surrounding parking lots consist of approximately ±1.74 acres of land and is a prime opportunity to construct additional improvements adjacent to the restaurant building to maximize the overall value of the site.
Downtown Santa Ana is quickly returning to its roots as the epicenter of Orange County’s urban lifestyle experience and is developing into a trendy urban live/work/play neighborhood akin to the recent emergence in Los Angeles, Long Beach and San Diego in California, as well as in such out-of-state cities as Portland, Brooklyn and Austin. Under a great transformation Santa Ana is capitalizing on the city’s rich history and cultural ties to the regional community to re-imagine downtown and to create a Vertical Urbanization centering on walk-ability and proximity to work, public transportation, and quality-of-life amenities. Lee & Associates-Orange (“L&A”) has been retained by Caribou Industries, Inc, (the “Owner”), as its exclusive agent to secure a qualified buyer for a once-in-a-lifetime investment opportunity to purchase the Original Mike’s restaurant building and surrounding parking lots at 100 S. Main Street in Downtown Santa Ana. The property is the entire city block which consists of a restaurant building, nine (9) rooftop apartments, and the surrounding parking lots, The Original Mike’s historic restaurant building contains ±15,856 SF of GLA and consists of a 420 seat restaurant with a 644 person capacity with the patio, type 47 liquor license, which allows for live entertainment, music until 2 am, and a large dance hall with state of the art lighting and sound equipment. The nine (9), second-story apartments, are studio apartment units, that generate nearly $6,900 in monthly rental income and are an opportunity to further increase monthly cash flow through rental increases. The entire site and surrounding parking lots consist of approximately ±1.74 acres of land and is a prime opportunity to construct additional improvements adjacent to the restaurant building to maximize the overall value of the site.
