Gardena, CA 90248 223 W Rosecrans Avenue
$30,610,000
38 more
Presented By: Edward Oh with Berkshire Hathaway HomeService; [email protected]
Home Details
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.
Presented By: Edward Oh with Berkshire Hathaway HomeService; [email protected]
Interior Features for 223 W Rosecrans Avenue
Other Interior Features
LivingAreaSourceSeeRemarks
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories1
General for 223 W Rosecrans Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Business TypeCommercial, Distribution, Manufacturing, Transportation
Carport Y/NNo
CityGardena
Construction MaterialsBrick, Concrete
CountyLos Angeles
Days on Market608
DirectionsWest Rosecrans Ave and south Broadway corner
ElectricElectricityOnProperty, Heavy
Electric On Property Y/NNo
Garage Y/NNo
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NYes
Lease Renewal Y/NNo
Lot Size Square Feet141595.0
Lot Size UnitsSquareFeet
MLS Area120 - South Gardena
MobileHomeRemainsYNNo
New ConstructionNo
Occupancy TypeTenant
Private PoolNo
Property Sub Type AdditionalWarehouse
Property SubTypeWarehouse
Property TypeCommercialSale
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
TermsCashToExistingLoan, CashToNewLoan, Exchange1031, GovernmentLoan
UtilitiesElectricityAvailable, PhoneAvailable, SewerAvailable, UndergroundUtilities, WaterAvailable
View Y/NNo
Waterfront Y/NNo
Year Built1972
ZoningLCM11/2'
Exterior for 223 W Rosecrans Avenue
Building Area Total78088.0
Crops Included Y/NNo
FencingCrossFenced, ExcellentCondition
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre, Paved, RectangularLot, SprinklerSystem
Lot Size Acres3.2506
Lot Size Area141595.0
Lot Size SourceAssessor
Number of Buildings1
Open Parking Y/NNo
SpaNo
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480