Active
223 W Rosecrans Avenue
Gardena CA, 90248
$30,610,000
$391.99 per sqft
Active
78,088 sqft
Commercial
Built in 1972
Listed by Edward Oh with Berkshire Hathaway HomeService [email protected]
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.
RS22255455
MLSⓇ ID
December 14, 2022
Listed
October 4, 2024
Updated
Map
223 W Rosecrans Avenue
Gardena CA, 90248
Interior Features
Total Stories
1
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
3.25 Acres
Lot Features
0-1 Unit/Acre, Paved, Rectangular Lot, Sprinkler System
Other Property Details
Area Name
120 - South Gardena
Days on Market
608
Garage
No
View
No
County
Los Angeles
Water Source
Public
Pool
No
Zoning
LCM11/2'
Listing Contact: 562-860-2443
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/4/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 10/4/2024 at 2:05 AM UTC