223 W Rosecrans AVE Gardena, CA 90248
UPDATED:
09/30/2024 06:47 PM
Key Details
Property Type Commercial
Sub Type Warehouse
Listing Status Active
Purchase Type For Sale
Square Footage 78,088 sqft
Price per Sqft $391
MLS Listing ID RS22255455
HOA Y/N No
Year Built 1972
Lot Size 3.251 Acres
Property Description
It is located in the city of Gardena, the best logistics center adjacent to the Long Beach Port and also adjacent to LA Airport.
Gardena is Los Angeles’ industrial hub surrounding the 110 Freeway located 12 miles south of Downtown Los Angeles.
The city of Gardena warehouse sales and lease market is a highly sought-after industrial real estate market with 2022 proving
to be an extremely high demand market year.
Currently, the best of the market demand for warehouse rental and sales is between 80,000 sf to 100,000 sf.
According to various business press statistics, the South Bay area always has a vacancy rate of lease 1%.
The reason is that there is no land that can be developed, and labor costs are too high to build.
On the other hand , with the increase in the distribution industry across the country, many people have been looking for
warehouses, but due to a lack of supply, price increases and vacancy rates are expected to remain at the lowest level.
Current our's leased contract rents are equal to $1.00/sf Industrial Gross which equates to 39% below market rents
current rental market a conservative estimate of $1.65/sf Gross market rent rate.
Therefore, since the current market rate price is much higher than the lease price, we can be sure of the lease price increase factor.
In the second year of investment(2024) ,the cap rate increase is 3.4%, and from the third year(2025), the cap increase is 5.3%.
The Subject Property approximately 78,088 sf of warehouse/distribution situated on 3.251 acres of land.
. There is a 10% office-to-warehouse ratio located in the front portion of the building with a kitchen and reception area.
The 2nd floor warehouse mezzanine is 7,000 sf,
but not included rental spaces in total rental sf.
The building is built of brick and concrete and ceilings and interior facilities are in excellent condition.
For vehicle traffic, there are two entrances that can pass through 360 degrees based on the building.
Although the current real estate market situation is at its worst due to rising inflation and rising interest rates, it is expected that
it will be a wise investment method to purchase an industrial logistics warehouse as the best investment. We will provide the best offers to the best investors. Very good 1031 Exchange building.
Location
State CA
County Los Angeles
Area 120 - South Gardena
Zoning LCM11/2'
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Fence Cross Fenced, Excellent Condition
Utilities Available Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Building
Lot Description 0-1 Unit/Acre, Paved, Rectangular Lot, Sprinkler System
Story 1
Water Public
Others
Tax ID 6132043074
Acceptable Financing Cash to Existing Loan, Cash to New Loan, 1031 Exchange, Government Loan
Listing Terms Cash to Existing Loan, Cash to New Loan, 1031 Exchange, Government Loan
Special Listing Condition Standard
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