Listed by Edward Oh, Berkshire Hathaway HomeService,

223 W Rosecrans Avenue

Gardena, CA, 90248

$30,610,000

$391 per ft²
$30,610,000
$391 per ft²
Active
Active
 - For Sale
carpenters-square
78,088 ft²
property_type
Commercial
calendar
Built 1972
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.
MLS® ID:
RS22255455
Listed:
12/12/22
Updated:
2/2/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
None

Exterior/Building Features

Lot Size
3.25 acres lot
Lot Details
0-1 Unit/Acre, Paved, Rectangular Lot, Sprinkler System

Other Property Details

Area Name
120 - South Gardena
Garage
No
Parking
N
View
N
County
Los Angeles
Utilities
Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available
Water Source
Public
Pool
No
Total Stories
1
Zoning
LCM11/2'
Buyer Agency Compensation
1.250

Listed by Berkshire Hathaway HomeService, Edward Oh,
Listing Contact: edwrdoh@gmail.com 

Based on information from California Regional Multiple Listing Service, Inc. as of 2/2/23. 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, 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.

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Data last updated 8:48 PM UTC, 2/2/23

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