Description

SEE SUPPLEMEN FOR RENT ROLL AND MORE DETAILS. This fully occupied retail center is located in the vibrant neighborhood of San Pedro, CA. The property is situated on a commercial corner and includes a gated parking lot for tenant parking. The building is comprised of 6 commercial units averaging 964 sq. ft. each. The small unit sizes are very attractive to tenants and have always been easily rented. Current tenants are as follows: 1) Production studio. 2) Velvet Hair Salon. 3) Smoke Shop. 4) Fit Lab Gym. 5) Premiere Chiropractic. 6) Vuk Jiu-Jitsu. Each store is individually metered for electricity and gas. At an existing actual cap rate of 6.25%, this asset offers investors an attractive and reliable return on investment. All leases are NNN. The current NOI is $95,256. The property has 6 parking stalls on site. The property is located in the heart of San Pedro which boasts one of the strongest population densities in L.A. County. Within a one mile radius from the property, there is a population base of over 41,000 residents. In addition, within a 3 mile radius of the property the average household income is $110,938. There are scores of national retailers in the area, including McDonald’s, Starbucks, Jack & The Box, KFC, CVS, and Del Taco all within ¼ mile of the subject property. This strategic location facilitates international trade and logistics, making it a prime location for businesses involved in shipping, manufacturing, and distribution as well. Small businesses thrive in the area supported by a strong local community and initiatives to foster entrepreneurship.