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223 W Rosecrans Avenue
Gardena, California CA90248-1831

Property Description

Property TypeCommercial Sale
Property Sub TypeWarehouse
SqFt 78,088
Year Built1972
CountyLos Angeles
Price/SqFt$391.99
StatusActive
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.
Listing IDRS22255455
Price$30,610,000

Primary Features

County Los Angeles
Price/SqFt 391.99
Property Sub Type Warehouse
Property Type Commercial Sale
Year Built 1972
Zoning LCM11/2'

Interior

Amperage 2400
Building Area Units Square Feet
Condo Area Units Square Feet
Laundry Features None
Office Class A
Stories Total 1

External

Clearance Height Max 25
Construction Materials Brick, Concrete
Electric Electricity - On Property, Heavy
Fence yes
Fencing Cross Fenced, Excellent Condition
Lot Size Source Assessor
Minimum Total Area Units Square Feet
Number Of Buildings 1
Phase 3
Water Source Public

Location

Country US
MLS Area Major 120 - South Gardena

Additional

Additional Parcels no
Asset Class Industrial
Building Status Existing
Days On Market 1
Land Use Industrial
List Agent State License 01310980
List Office State License 00338699
Max Total Area Units Square Feet
Parcel Number 6132043074
Utilities Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available

Financial

Investment Property yes
Special Listing Conditions Standard

Zoning Info

Home Valuation

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Listed by: Edward Oh, DRE #01310980 from Berkshire Hathaway HomeService 562-860-2443
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