700-738 Compton Blvd, Compton, CA 90220
24,503 SF | 70% Leased | Retail Building | Compton, CA 90220 | $6,499,000 ($265/SF) | 7.38% Cap Rate
For Sale
Active
Asking Price $6,499,000
- Property Type
-
Retail
- Square Feet
- 24,503 SF
- Price / Square Foot
- $265
Listing Contacts
Brice W. Head, MBA
Patrick King
Cristian Goodson
Property Overview
Opportunistic Buyers wanted...
FIRST TIME ON MARKET IN OVER 40 YEARS.
17 storefronts, almost 25K rentable square feet, on a massive, two-parcel, footprint of approximately 80K sq. feet!
Due to long-term, lax, one-family ownership and management, there is immediate meat on the bone for a savvy Buyer. Approximately 40% of the 25K sq. ft. or retail space is currently vacant - 7 of the 17 storefronts can command a market rent immediately. And the existing tenants are on shorter-terms leases or MTM, meaning the entire center could be 'at market' sooner rather than later.
This signalized corner location is ripe for further reimaging - the NEC corner has a newer build-to-suit, credit tenant (AutoZone).
Just behind this center is a large, tract of over 300+ attractive homes. Highly-accessible location, only minutes to the the 110, 105 and 91 Fwys. And the Compton Airport is only 3 blocks away.
REASONS TO INVEST
60K cars/day at this corner.
$83K average household income.
$538K median home value.
Median age of 30.
Projected rents of $2.25/foot NNN for the vacant storefronts.
PRICED TO SELL AT A SCHEDULED 7.4% CAP RATE.
10% CAP ON PROFORMA RENTS .
EXCLUSIVELY LISTED AT $6,499,000.
FIRST TIME ON MARKET IN OVER 40 YEARS.
17 storefronts, almost 25K rentable square feet, on a massive, two-parcel, footprint of approximately 80K sq. feet!
Due to long-term, lax, one-family ownership and management, there is immediate meat on the bone for a savvy Buyer. Approximately 40% of the 25K sq. ft. or retail space is currently vacant - 7 of the 17 storefronts can command a market rent immediately. And the existing tenants are on shorter-terms leases or MTM, meaning the entire center could be 'at market' sooner rather than later.
This signalized corner location is ripe for further reimaging - the NEC corner has a newer build-to-suit, credit tenant (AutoZone).
Just behind this center is a large, tract of over 300+ attractive homes. Highly-accessible location, only minutes to the the 110, 105 and 91 Fwys. And the Compton Airport is only 3 blocks away.
REASONS TO INVEST
60K cars/day at this corner.
$83K average household income.
$538K median home value.
Median age of 30.
Projected rents of $2.25/foot NNN for the vacant storefronts.
PRICED TO SELL AT A SCHEDULED 7.4% CAP RATE.
10% CAP ON PROFORMA RENTS .
EXCLUSIVELY LISTED AT $6,499,000.
Property Details
- Class
- C
- Year Built
- 1962
- Stories
- 1
- Property Subtype
- Freestanding, Storefront
- Lot Size (sq. ft)
- 75,794 SF
Highlights
- 60k cars/day at this corner
- Just behind this center is a large, tract of over 300+ attractive homes
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