223 W Rosecrans Avenue Gardena, CA 90248
78,088 Sq. Ft. / 141,596 Sq. Ft., 3.251 acres lot size / Retail, Business Opportunities
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Location. Location. Property is located 223 W Rosecrans Ave, Gardena ,CA 90248. 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.
property details
Type
Retail, Business Opportunities
Status
Active
County
Los Angeles
Year Built
1972
Sq. Ft.
78,088
Lot Size
141,596 Sq. Ft., 3.3 acres
Listing Id
RS22255455
Courtesy Of
Edward Oh - Berkshire Hathaway HomeService edwrdoh@gmail.com
List Office Phone
+1 (562) 860-2443
Interior Features
Living Area Units
Sq. Ft.
Exterior Features
Lot/Land Description
0-1 Unit/Acre
Paved
Rectangular Lot
Sprinkler System
Paved
Rectangular Lot
Sprinkler System
Stories
1
Utility & Building Info
Parcel Number
6132043074
Water Source
Public
Building Area Total
78,088 Sq. Ft.
Price Per Sq Ft
$392
Architectural Style
1 Story
Price History
| date | event | price | source |
|---|---|---|---|
|
12/14/2022
12/14/2022
|
Active |
$30,610,000
|
CA Regional MLS (CRMLS) |
View More
Market Trends
Source: LiveBy
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