RETAIL REDONDO BEACH
2207 ARTESIA BOULEVARD | REDONDO BEACH, CA
HIGHLIGHTS
• Own Versus Lease – Excellent opportunity for an owner/user to occupy more than half of the building and take advantage of historically low SBA financing.
• Dense Retail Corridor – Subject property is in close proximity to a brand-new CVS and Grocery Outlet. The property is also surrounded by tenants such as The Sofa Company, Taco Bell, Dollar Tree, Carl’s Jr., and Pep Boys.
• Well Located and Visible – About 100 feet of frontage on Artesia Blvd (40,000+ cars per day).
• Dense Population & Affluent Demographics – There are more than 566,458 people in a 5-mile radius, as well as an average household income exceeding $112,000 within a 1 Mile Radius.
• Improving Retail District - Subject property is down the street from the South Bay Galleria, which will soon undergo a +/- $900M makeover. It will include a hotel, apartments, retail, office, and a skate park.
• Pedestrian Friendly Street – The city of Redondo Beach is improving the pedestrian friendliness of North Redondo Beach by planning a $800k+ greenbelt renovation. This will include a park, bike path, and parking
PROPERTY INFO
Property Type: Retail
Status: For Sale
Building Size (Total GLA): 5,056 SF
Lot Size: 12,967 SF (0.30 Acres)
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iNVESTMENT PRICING
Price: 2,380,000
Cap Rate Current: 5.00%
Cap Rate Pro Forma: 5.5%
Price Per Square Foot (Building): $470.73
financial DETAILS
Lease Type: Absolute-Net;Ground
Lease Term Remaining: 1.5 Years
Rent Increases: 15% at Options
Options to Extend: Four, 5-Year
Guarantor: Corporate