1942 W Redondo Beach Blvd - Freestanding FOR SALE


Gardena, CA 90247
$2,269,000 USD
949-350-5431
1942 W Redondo Beach Blvd, Gardena, CA for Sale
$2,269,000 USD
Freestanding - FOR SALE
1/6
null | 5.5% Cap Rate

1942 W Redondo Beach Blvd
Gardena, CA 90247


HIGHLIGHTS

  • Hard Signalized Corner on Redondo Beach Boulevard, a Primary South Bay Arterial Carrying ±31,600 Vehicles Per Day
  • Corporate-Guaranteed NNN Lease Backed by Work World, a Private Equity-Sponsored 38-Location Workwear Platform
  • Property has Undergone a Complete Renovation, Including New Roof, New HVACs, Full Remodel Inside and Out, as Well as Signage

OVERVIEW

-Hard Signalized Corner on Redondo Beach Boulevard, a Primary South Bay Arterial Carrying ±31,600 Vehicles Per Day -Corporate-Guaranteed NNN Lease Backed by Work World, a Private Equity-Sponsored 38-Location Workwear Platform, With Minimal Landlord Obligations Limited to Roof and Structure -Fixed Rent Escalations Averaging 3.4%–3.7% Annually, Roughly Double the 2% Standard Across Competing Net Lease Product -Property has Undergone a Complete Renovation, Including New Roof, New HVACs, Full Remodel Inside and Out, as Well as Signage ---An Irreplaceable South Bay Corner--- -Hard Signalized Corner With Dual Street Frontage and Full Building Visibility From Both Directions, the Positioning Institutional and Private Buyers Consistently Underwrite Most Aggressively -±31,500 Vehicles Per Day Along Redondo Beach Boulevard, One of the South Bay's Principal East-West Arterials Linking the I-110 and I-405 Freeways ±5,200 Square Feet on a ±9,272 Square Foot Hard-Corner Parcel, a Site Configuration That Could Not Be Assembled or Entitled in This Corridor Today -Dual-Street Ingress and Egress With Dedicated On-Site Parking and Building Signage Visible From Both Frontages -Immediately Surrounded by National and Regional Retail Including Target, CVS, Raising Canes, Ralphs, US Bank - Delivering Cross-Shopping Traffic Without the Co-Tenancy or Rollover Exposure That Comes With Owning Inside a Multi-Tenant Center ---Trade Area and Basis--- -The South Bay's Aerospace, Manufacturing, Logistics, and Port-Adjacent Employment Base Is the Direct End Customer for Work Boots and Job-Site Apparel, Tying Store Performance to Industrial Employment Rather Than Discretionary Retail Cycles -Positioned Between the I-110 and I-405 Freeways Within One of the Densest Combined Residential and Employment Corridors in Los Angeles County 727,770+ Residents, $112,490+ Average Household Income and 764,740+ Daytime Population Inside the Five-Mile Trade Area -Shoeteria's In-Store Boot Fitting, B2B Industrial Accounts, and Mobile Boot Truck Program Are Service-Based and Locally Dispatched, Insulating the Use From E-Commerce Displacement

FOR SALE DETAILS

PRICE

$2,269,000 USD

PRICE/SF

$453 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shoeteria NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

GAC3YY

APN/PARCEL ID

4066-007-016

ASK ABOUT THIS PROPERTY

Ron DuongMarcus & MillichapMore Info
949-350-5431

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Ron DuongMarcus & MillichapMore Info
949-350-5431

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