$30,610,000
Active MLS # RS22255455 | Listed by Edward Oh with Berkshire Hathaway HomeService
Active MLS # RS22255455 | Listed by Edward Oh with Berkshire Hathaway HomeService
223 W Rosecrans Avenue is a $30,610,000, 78,088 square foot home on a 3.25 acre lot located in Gardena, CA.
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.
Interior Features | None |
Exterior Features | Cross Fenced Standard Electricity Available Phone Available Sewer Available Underground Utilities Water Available Electric - Electricity On Property Electric - Heavy Fencing - Excellent Condition |
Construction Types | Brick Concrete |
Land Type | Paved Rectangular Lot Lot Features - Sprinkler System Item01 Unit Acre |
Water Source | Public |
Attribution Contact | edwrdoh@gmail.com |
Financial Terms | 1031 Exchange Lease Considered - Yes financialterm335 |
Property Type | Commercial Sale |
Property Sub Type | Warehouse |
Style | Commercial Distribution Manufacturing Transportation Limited Service |
Year Built | 1972 |
HOA Fee | $0.00 |
Taxes | $0.00 |
County | los angeles |
Elementary School | |
Middle School | |
High School | |
Neighborhood |
All information should be verified by the recipient and none is guaranteed as accurate by CRMLS. Data last updated 07/26/2024 at 07:31pm MDT. The data relating to real estate on this website derived in part from the California Regional Multiple Listing Service, Inc. Internet Data Exchange program. All properties are subject to prior sale, change or withdrawal. Neither Mills Realty | CABRE#01485453 nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2024 California Regional Multiple Listing Service, Inc. All rights reserved.