5237-5263 Paramount Blvd - Storefront FOR SALE
Lakewood, CA 90712 |
5237-5263 Paramount Blvd
Lakewood, CA 90712
HIGHLIGHTS
- TREMENDOUS UPSIDE POTENTIAL | Below Market Rents Averaging $16.72/ft | Westlake plaza has two attractive vacancies totaling 10.3% of the GLA |
- MOST DESIRABLE SIZE OF RETAIL SPACES | Majority around 1,000 SF which caters to the largest tenant pool enabling ease of leasing and less TIs
- NNN LEASES AND ANNUAL CPI INC | 100% of tenants currently are on NNN leases and must reimburse the landlord for their pro-rata share of all expenses.
- PRIME LOCATION ON PARAMOUNT BLVD | MAJOR THOROUGHFARE THROUGH LAKEWOOD | 5 Access Points and a combined traffic count of over 36K |
- STRONG INCOME GROWTH WITH NEARLY 100% OF LEASES HAVING ANNUAL CPI INCREASES | Provides a hedge against inflation |
- FREESTANDING OUTPAD | 1,245 SF out pad currently paying $20/sf that could easily attract up to $36/sf | Lease expires with no options 2/1/24 |
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
TOTAL BUILDING SIZE
21882
STORIES
2
YEAR BUILT
1966
SPRINKLERS
-
PARKING SPACES
81
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
7157-019-007
