$ 30,610,000
223 W Rosecrans Avenue Gardena, CA 90248
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Listed by Edward Oh • Berkshire Hathaway HomeService
$ 30,610,000
Est. payment /mo
Active
223 W Rosecrans Avenue Gardena, CA 90248
78,088 SqFt
UPDATED:
01/27/2024 05:53 AM
Key Details
Property Type Commercial
Sub Type Warehouse
Listing Status Active
Purchase Type For Sale
Square Footage 78,088 sqft
Price per Sqft $391
MLS Listing ID CRRS22255455
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1972
Lot Size 3.251 Acres
Property Description
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
Location
State CA
County Los Angeles
Interior
Fireplace No
Building
Water Public
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