4929-4943 Paramount Blvd - Storefront FOR SALE


Lakewood, CA 90712
$4,877,000 USD
949-221-1807
4929-4943 Paramount Blvd, Lakewood, CA for Sale
$4,877,000 USD
Storefront - FOR SALE
1/8
null | 6% Cap Rate

4929-4943 Paramount Blvd
Lakewood, CA 90712


HIGHLIGHTS

  • STRONG HISTORICAL OCCUPANCY / DAILY NEEDS TENANT LINE-UP
  • SMALL LEASABLE UNITS / AMPLE PARKING AT 5.62 : 1,000 SF
  • RECENT ROOF REPLACEMENT & CAPITAL IMPROVEMENTS
  • REDUCED MANAGEMENT / NNN LEASES
  • EXCELLENT STREET FRONTAGE & ACCESS / LARGE MONUMENT SIGNAGE (59,000 VPD)
  • DENSE INFILL DEMOGRAPHICS/AVERAGE ANNUAL HOUSEHOLD INCOME OF $107,600 IN 1-MILE

OVERVIEW

Faris Lee Investments is pleased to bring to market a 9,280 square foot strip center with 100% frontage to well-traveled Paramount Boulevard. The offering features small leasable units ranging from 1,141 sq. ft. to 1,680 sq. ft. catering well to the needs of retail/service users. The property was constructed in 2004 and the majority of the tenants are original tenants demonstrating their strong performance and support from the community. With an abundant amount of parking (5.62 stalls:1,000 sq. ft.), Paramount Center provides an ease of shopping experience and caters well to parking intensive food users. Ownership has recently replaced the entire roof and updated the property to comply with ADA requirements. Paramount Center is ideally located at the intersection of Paramount Blvd. and Del Amo Blvd. with exposure to over 59,000 VPD at the intersection. There are strong demographics within the immediate trade area. With AHHI and population within a 1-mile radius of $107,000 and 229,800 respectively, the tenants benefit from a unique trade area where both discretionary income and population are high. Given the strong demographics, retailers thrive in Lakewood, as immediate trade area tenants include Costco, Wal-Mart Supercenter, Target, Home Depot, Whole Foods, WinCo Foods, and Northgate Gonzalez to name a few.

FOR SALE DETAILS

PRICE

$4,877,000 USD

PRICE/SF

$526 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PARAMOUNT CENTER

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

186

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

-

APN/PARCEL ID

7157-027-014

ASK ABOUT THIS PROPERTY

Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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Shaun RileyFaris Lee InvestmentsMore Info
949-221-1807

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