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Vacant-User

651 Arroyo Ave

651 Arroyo Ave, San Fernando, CA 91340

Listing Price: $5,700,000

Cap Rate
7.22%
Gross SF
23,660
Price/Gross SF
$240.91
Lot Size
0.79 acres
Year Built
1947
Rentable SF
23,660

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 651 Arroyo Ave in San Fernando, California. The subject property consists of approximately 23,660 square feet of warehouse space and is situated on 0.79 acres of land. The single-tenant asset features a clear height of 22’, metal and stucco construction, three-phase power with 480 volts and 1200 amps and three grade-level doors. For sale as vacant, buyers have an owner-user or lease-up opportunity.

The subject property sits in the core of the East San Fernando Valley submarket, a sizeable submarket with 55.6 million square feet of industrial space. Currently, in the first quarter of 2024, the vacancy rate remains impressively low at 2.6 percent which outperforms the Greater Los Angeles Market by nearly half compared to it's 4.9 percent vacancy rate. While annual rent growth slowed to 2.1 percent for the trailing 12-months, rents have seen staggering double digit growth for the past five years and remain in line with the long-term growth trend and continue to outpace the consumer price index. The average market rent in East San Fernando Valley stands at about $21.00 per square foot, up 68 percent since 2018. The submarket has had a modest amount of industrial development, which means that vacancies and rents will be unaffected by new supply for the foreseeable future (CoStar).

Investment Highlights

  • Vacant Brand New Construction 23,660-Square-Foot Metal And Stucco Industrial Building Situated on 0.79 Acres
  • Metal and Stucco Construction Featuring 22' Clear-Height, Three (3) Ground-Level Doors and Concrete Paved Parking
  • Investor Lease-Up or Owner-User Opportunity Ideal for a Variety of Uses
  • Tight Barrier-to-Entry Submarket with 2.6% Vacancy Rate (CoStar)

Exclusively Listed By

Financing By

Vacant-User

651 Arroyo Ave

Listing Price: $5,700,000

Cap Rate
7.22%
Gross SF
23,660
Price/Gross SF
$240.91
Lot Size
0.79 acres
Year Built
1947
Rentable SF
23,660

Investment Highlights

  • Vacant Brand New Construction 23,660-Square-Foot Metal And Stucco Industrial Building Situated on 0.79 Acres
  • Metal and Stucco Construction Featuring 22' Clear-Height, Three (3) Ground-Level Doors and Concrete Paved Parking
  • Investor Lease-Up or Owner-User Opportunity Ideal for a Variety of Uses
  • Tight Barrier-to-Entry Submarket with 2.6% Vacancy Rate (CoStar)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 651 Arroyo Ave in San Fernando, California. The subject property consists of approximately 23,660 square feet of warehouse space and is situated on 0.79 acres of land. The single-tenant asset features a clear height of 22’, metal and stucco construction, three-phase power with 480 volts and 1200 amps and three grade-level doors. For sale as vacant, buyers have an owner-user or lease-up opportunity. The subject property sits in the core of the East San Fernando Valley submarket, a sizeable submarket with 55.6 million square feet of industrial space. Currently, in the first quarter of 2024, the vacancy rate remains impressively low at 2.6 percent which outperforms the Greater Los Angeles Market by nearly half compared to it's 4.9 percent vacancy rate. While annual rent growth slowed to 2.1 percent for the trailing 12-months, rents have seen staggering double digit growth for the past five years and remain in line with the long-term growth trend and continue to outpace the consumer price index. The average market rent in East San Fernando Valley stands at about $21.00 per square foot, up 68 percent since 2018. The submarket has had a modest amount of industrial development, which means that vacancies and rents will be unaffected by new supply for the foreseeable future (CoStar).

Exclusively Listed By

Financing By

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