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Crenshaw Plaza

  • $8,585,000
Featured Sale
Torrance, Los Angeles County, California, 90505, United States, ,
Featured Sale

Crenshaw Plaza

Torrance, Los Angeles County, California, 90505, United States, ,
  • $8,585,000

Description

High Quality Retail Strip Center Opportunity – Crenshaw Plaza is a 14,225 SF convenience-oriented retail strip center featuring a strong “internet resistant” tenant mix including food, beverage, and service tenants proven to be recession proof

Tremendous Income Growth – Due to embedded rental increases and below market rents resetting to market levels, the Net Operating Income is projected to grow approximately $289,614 (70%) over a 10-year hold, providing an impressive compound annual growth rate (CAGR) of +5.5% and a strong hedge against inflation

Significantly Below Market Rents – Property wide, existing rents average just $2.59 PSF/MO on NNN equivalency, more than 40% below the average shop rents across the street at Torrance Crossroads

Destination Retail Trade Hub – Crenshaw Plaza enjoys an ideal retail location across Crenshaw Blvd. from Torrance Crossroads, a dominant retail shopping destination in Los Angeles’s South Bay

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Adjacent tenants include Home Depot, TJ Maxx, Sam’s Club, Lowe’s and Costco, who recently completed a brand new prototypical construction of its store, proving Costco’s commitment to the center and trade area

Irreplaceable High Traffic Location – Ideal South Bay location along Crenshaw Blvd. and Lomita Blvd., two of the trade area’s primary arterials boasting traffic counts of ±100,000 vehicles a day and connecting Torrance to the neighboring communities that comprise the Palos Verde Peninsula to the south, and the greater Los Angeles area to the north

Infill, Affluent Southern California Demographics – More than 196,500 residents in a 3-mile radius with an Average Household Income exceeding $138,200, and more than 478,800 residents in a 5-mile radius with an Average Household Income exceeding $145,400

Call Kirk for more information at +1 (949) 725-8418.

  • Address 24200 Crenshaw Blvd
  • Zip/Postal Code 90505-5303

Details

Updated on October 29, 2022 at 6:50 pm
  • Price: $8,585,000
  • Property Size: 14225 sq ft
  • Year Built: 1959
  • Property Type: Commercial
  • Property Status: Sale

Overview

  • Commercial
  • Property Type
  • 14225
  • sq ft
  • 1959
  • Year Built

Contact Information

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Kirk Brummer

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