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$30,610,000
495 Days Online

223 W Rosecrans Avenue
Gardena, CA 90248

For Sale|Commercial|Active
0
Beds
0
Full Baths
0
Partial Baths
78,088
SqFt
$392
/SqFt
1972
Built
County:
Los Angeles
Listed by Edward Oh of Berkshire Hathaway HomeService [email protected]

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223 W Rosecrans Avenue223 W Rosecrans Avenue223 W Rosecrans Avenue223 W Rosecrans Avenue
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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.

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Listing Snapshot
Price 
$30,610,000
Days Online 
495 Days
Bedrooms 
N/A
Inside Area (SqFt) 
78,088 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
3.2506 Acres
Year Built 
1972
MLS® Number 
RS22255455
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
SeeRemarks
Friends & Family
Recent Activity
3 months agoListing updated with changes from the MLS®
a year agoListing first seen online
General Features
Construction 
BrickConcrete
Electric 
Electricity On PropertyHeavy
Number of Stories 
1
Acreage 
3.2506
Water 
Public
Property Sub Type 
Warehouse
Utilities 
Electricity AvailablePhone AvailableSewer AvailableUnderground UtilitiesWater Available
Zoning 
LCM11/2'
Listing Conditions 
Standard
Interior Features
Laundry Features 
None
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Exterior Features
Fencing 
Cross FencedExcellent Condition
Lot 
Item01 Unit AcrePavedRectangular LotSprinkler System
Community Features
MLS Area 
120 - South Gardena


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. The 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.

Neighborhood & Commute
Source: Walkscore
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