Yorba Linda, is a regular suburban city that is located in Orange County, California, and residents have the benefit of easily reaching Downtown Los Angeles. Richard Nixon, the 37th President of the U.S., was born in Yorba Linda, although he had already relocated to another place before it was incorporated into a city. The former president is still remembered through the Richard Nixon Presidential Library and Museum. Also found in the city is Savi Ranch, a huge commercial district, as well as a number of shopping centers. There are also some 1,000 physical businesses found within the city, including 1,500 businesses that are being operated out of residential houses. Because of that, it is a city with a very low level of unemployment while its economic condition continues to improve.
Yorba Linda Retail Building for Sale & Lease – Should You Buy or Lease?
If you are interested in getting some retail space in Yorba Linda, you have two major choices: buying or leasing.
First of all, the advantages of buying retail space include the fact that:
- Your expenses for the retail space will remain unchanged because the amortization will remain constant for the duration of the mortgage.
- You can file for several tax deductions, including property taxes and mortgage interest.
- You can lease out some of your retail space to provide you with additional income, assuming that the space is too large for your use.
- Your property will rise in value over time.
On the other hand, the cons of buying retail space include the fact that:
- It is much more difficult to relocate your business because you will first have to find a buyer for the property and then complete the selling process.
- A 30 percent down payment is often required. You will also have to shoulder maintenance, appraisal, and other property costs. This means that your upfront costs will be quite substantial.
Your other option is to lease retail space, which has some clear benefits, including the fact that:
- It is possible to obtain prime retail space, which will surely help to boost your reputation.
- Because you don’t have to pay for a huge down payment and other costs, you will be left with a bigger working capital.
- You can concentrate on your retail business. There is no need to be concerned about the usual issues that come with property ownership.
Of course, there are also some downsides leasing, including the fact that:
- Rents tend increase, which means your monthly expenses for using the retail space will also rise over time.
- The increasing value of the retail property will not be of benefit to you.
To help decide between the two options, we present the trends and statistics in terms of prices, supply, and demand with regards to retail property.
Yorba Linda Retail Property for Sale – Trends and Statistics
- The asking prices for retail properties in Yorba Linda in in dollars per square foot is $408.88, which has remained the same over the past three months, and represents a 14.5% increase year on year. This is higher than the metro ($282.45) area and state ($214.98) area.
- The index of total dollars available for retail properties for sale in Los Angeles-Long Beach-Yorba Linda is 45, which represents a 9.7% increase over the past three months and 7.1% increase year on year.
- The index of total number of listings of retail properties available in Los Angeles-Long Beach-Yorba Linda is 35, which is a 2.6% decrease over the past three months, as well as a 10.6% decrease year on year.
- The profile view index retail for sale in the Los Angeles-Long Beach-Yorba Linda metro area is 123, which is a 10.6% increase over the past three months, and a 14.7% increase year on year.
- The index of total square feet of available retail space for sale in the Los Angeles-Long Beach-Yorba Linda metro area is 34, which is a 3.2% increase over the past three months, but an 8.5% decrease year on year.
Yorba Linda Retail Property for Lease – Trends and Statistics
- The asking rent for retail properties for lease in Yorba Linda in dollars per square foot per year is $24.21. This represents a 0.9% decrease over the past three months, but a 0.4% increase year on year. This is higher than the state ($20.88) area, but lower than the metro ($24.88) area.
- The index of total number of retail spaces for lease in the Los Angeles-Long Beach-Yorba Linda area is 71, which represents a 2.4% increase over the past three months, and a 1.4% increase year on year.
- The profile view index for retail properties for lease in the Los Angeles-Long Beach-Yorba Linda area is 91, which is a 49.3% decrease over the past three months, and a 47.5% decrease year on year.
- The index of total square feet of retail space available for lease in the Los Angeles-Long Beach-Yorba Linda area is 69, which is a 5.3% increase over the past three months, and a 3.3% increase year on year.