Vacant-User
Rosecrans Drive-Thru Redevelopment Site
12949 Rosecrans Ave, Norwalk, CA 90650
Listing Price: $3,200,000
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale a value-add retail investment opportunity located in the city of Norwalk, CA. The offering is comprised of two adjoining parcels with three retail structures on them: a fast-food drive-thru restaurant, a coin operated car wash and a stand-alone structure, all positioned along a highly trafficked corridor in a dense infill area of Los Angeles County.
Investors have several options to add value with this property: (1) Keep the property as is and stabilize the center by converting 2/3 of the tenants to NNN leases, (2) reposition it with alternative tenants or (3) redevelop the parcels into a new property of their choosing while simultaneously collecting a cumulative monthly gross income of $11,523. Total lot size here is 0.69 acres (30,004 SF) and zoning is C1 Restricted Commercial which allows for most common retail uses.
The property offers three points of ingress/egress and approximately 200 feet of street frontage along the busy corridor of Rosecrans Avenue, which boasts a high level of business and commuter traffic of over 35,000 VPD at the site. Rosecrans Avenue spans over 27 miles in total stretching from the city of Fullerton at its easternmost point to the shores of the Pacific Ocean in Manhattan Beach at its westernmost point. The subject property is situated just 0.2 miles from the 5 Fwy on the north side of the street making it an ideal location for many retail uses including a drive-thru or a car wash.
The three tenants have a weighted average lease term of 2.47 years remaining.
Rosecrans Drive-Thru Redevelopment Site
Investment Highlights
- Limited Inventory – Rare opportunity to reposition an existing drive-thru restaurant and retail space in a busy trade area.
- Covered Land Play – Collect income from established tenants while prepping site for alternative uses.
- Expedited Renovations – Can expand building footprint up to 30% without triggering the need for director approval.
- Minimal Hold Time – All tenants on expiring leases with no options to extend. Total weighted average lease term remaining is 2.47 years.
- Heavily Traveled Corridor – Rosecrans Ave sees approximately 35,000 vehicles per day at the subject property.
- Freeway Accessible – Subject property is located just 0.2 miles away from the entrance to the 5 Freeway (180,000 VPD).
- Strategic Location – Property is positioned along the north side of the street which benefits from morning traffic heading towards the freeway.
- Excellent Business Exposure – Future tenants will enjoy a prominent retro-style pylon sign that is grandfathered in.
Exclusively Listed By
Financing By
Listing Price: $3,200,000
Investment Highlights
- Limited Inventory – Rare opportunity to reposition an existing drive-thru restaurant and retail space in a busy trade area.
- Covered Land Play – Collect income from established tenants while prepping site for alternative uses.
- Expedited Renovations – Can expand building footprint up to 30% without triggering the need for director approval.
- Minimal Hold Time – All tenants on expiring leases with no options to extend. Total weighted average lease term remaining is 2.47 years.
- Heavily Traveled Corridor – Rosecrans Ave sees approximately 35,000 vehicles per day at the subject property.
- Freeway Accessible – Subject property is located just 0.2 miles away from the entrance to the 5 Freeway (180,000 VPD).
- Strategic Location – Property is positioned along the north side of the street which benefits from morning traffic heading towards the freeway.
- Excellent Business Exposure – Future tenants will enjoy a prominent retro-style pylon sign that is grandfathered in.
Investment Overview
Marcus & Millichap is pleased to exclusively present for sale a value-add retail investment opportunity located in the city of Norwalk, CA. The offering is comprised of two adjoining parcels with three retail structures on them: a fast-food drive-thru restaurant, a coin operated car wash and a stand-alone structure, all positioned along a highly trafficked corridor in a dense infill area of Los Angeles County. Investors have several options to add value with this property: (1) Keep the property as is and stabilize the center by converting 2/3 of the tenants to NNN leases, (2) reposition it with alternative tenants or (3) redevelop the parcels into a new property of their choosing while simultaneously collecting a cumulative monthly gross income of $11,523. Total lot size here is 0.69 acres (30,004 SF) and zoning is C1 Restricted Commercial which allows for most common retail uses. The property offers three points of ingress/egress and approximately 200 feet of street frontage along the busy corridor of Rosecrans Avenue, which boasts a high level of business and commuter traffic of over 35,000 VPD at the site. Rosecrans Avenue spans over 27 miles in total stretching from the city of Fullerton at its easternmost point to the shores of the Pacific Ocean in Manhattan Beach at its westernmost point. The subject property is situated just 0.2 miles from the 5 Fwy on the north side of the street making it an ideal location for many retail uses including a drive-thru or a car wash. The three tenants have a weighted average lease term of 2.47 years remaining.
Exclusively Listed By
Financing By
