212 S Atlantic Blvd - Storefront Retail/Office FOR SALE


Los Angeles, CA 90022- East Los Angeles
$3,600,000 USD
818-212-2794
212 S Atlantic Blvd, Los Angeles, CA for Sale
$3,600,000 USD
Storefront Retail/Office - FOR SALE
1/15
null | 5.06% Cap Rate

212 S Atlantic Blvd
Los Angeles, CA 90022
East Los Angeles


HIGHLIGHTS

  • 100% occupied shopping center with gross leases in place
  • Seasoned local tenant base with an average length of occupancy of 9.32 years
  • Current ground floor rents average $1.74 per SF, gross, with second story rents averaging $1.51 per SF, gross
  • Short term or month to month leases in place
  • 46 parking spaces; a parking ratio of 3.22 per 1,000 SF
  • On-grade and subterranean parking

OVERVIEW

A 14,276 square foot, 90% occupied value-add shopping center ideally located directly off the California State Route 60 Pomona Freeway in the dense, urban infill Los Angeles County submarket of East Los Angeles, CA. The Brandon Michaels Group Marcus & Millichap has been selected to exclusively market for sale Freeway Plaza, a 14,276 square foot two-story value-add shopping center situated on 16,625 SF of land located directly off the California State Route 60 Pomona Freeway on/off ramp along high trafficked S Atlantic Boulevard in the densely populated Los Angeles County submarket of East Los Angeles, CA. The center sits just north of the signalized intersection of S. Atlantic Boulevard and Pomona Boulevard, surrounded by strong national retailers and dense residential. Freeway Plaza is currently 100% occupied to a seasoned tenant base of local tenants that ideally serve the immediate area. The average length of occupancy of the existing tenant base is 9.32 years, with most leases being month to month or expiring in the near term. Freeway Plaza contains 13 units, seven on the ground floor and six on the second story. The average unit size of the ground floor and second story units is 1,188 square feet and 934 square feet respectively. These are ideal unit sizes that are easily leasable with minimal tenant improvement costs required between tenants. Current ground floor rents average $1.74 per SF, gross, with second story rents averaging $1.51per SF gross. The flexibility in lease terms in conjunction with below market rents creates a unique value-add opportunity. Freeway Plaza benefits from excellent visibility and frontage along highly trafficked S. Atlantic Boulevard, with 176’ of linear frontage along S. Atlantic Boulevard and daily traffic counts exceeding 38,000 vehicles per day, with an additional 250,000 vehicles passing the center along the California State Route 60 Pomona Freeway. The site offers 46 surface parking spaces, a parking ratio of 3.22 per 1,000 square feet. The site sits on 16,625 square feet of land designated MC, major commercial, in the East Los Angeles Community Standards District.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$252 USD /SF

CAP RATE

5.06%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Freeway Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,625 SF

ZONING

LCC3*

APN/PARCEL ID

5250-022-034

ASK ABOUT THIS PROPERTY

Brandon MichaelsThe Brandon Michaels GroupMore Info
818-212-2794

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Brandon MichaelsThe Brandon Michaels GroupMore Info
818-212-2794

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.