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Shopping Neighborhood

Pioneer Center

14407 Pioneer Blvd, Norwalk, CA 90650

Listing Price: $9,000,000

Cap Rate
4.33%
Gross SF
34,698
Rentable SF
34,698
Price/Gross SF
$259.38
Lot Size
1.17 acres
Year Built
1964

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Pioneer Center: a rare 15-unit grocery-anchored neighborhood shopping center located at 14407-14509 Pioneer Blvd in Norwalk, CA. Situated on two parcels of land totaling about 1.93 acres, the ±34,698 square-foot center, originally constructed in 1968, is currently 97.48% occupied with a majority of the tenants having substantial history at the site. All tenants are on triple net leases, except for one, and benefit from a synergistic mix of service-based uses bringing substantial traffic to the center. Pioneer Center sits one block south of popular Norwalk Town Square which is located at the busy five-way intersection where Pioneer Blvd, Rosecrans Ave and San Antonio Dr intersect and see approximately 78,000 vehicles per day. Retailers in immediate area include In-N-Out, Starbucks, dd’s Discounts, Grocery Outlet, CVS, O’Reilly Auto Parts, Taco Bell, plus many more.

Investment Highlights

  • Strong annual rental increases
  • Rents average about $1.21/sf which is well below market.
  • Approximately 29,000 VPD along Pioneer Blvd. 78,000 combined VPD at the intersection of Pioneer Blvd and Rosecrans Ave.

Exclusively Listed By

Shopping Neighborhood

Pioneer Center

Listing Price: $9,000,000

Cap Rate
4.33%
Gross SF
34,698
Rentable SF
34,698
Price/Gross SF
$259.38
Lot Size
1.17 acres
Year Built
1964

Investment Highlights

  • Strong annual rental increases
  • Rents average about $1.21/sf which is well below market.
  • Approximately 29,000 VPD along Pioneer Blvd. 78,000 combined VPD at the intersection of Pioneer Blvd and Rosecrans Ave.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Pioneer Center: a rare 15-unit grocery-anchored neighborhood shopping center located at 14407-14509 Pioneer Blvd in Norwalk, CA. Situated on two parcels of land totaling about 1.93 acres, the ±34,698 square-foot center, originally constructed in 1968, is currently 97.48% occupied with a majority of the tenants having substantial history at the site. All tenants are on triple net leases, except for one, and benefit from a synergistic mix of service-based uses bringing substantial traffic to the center. Pioneer Center sits one block south of popular Norwalk Town Square which is located at the busy five-way intersection where Pioneer Blvd, Rosecrans Ave and San Antonio Dr intersect and see approximately 78,000 vehicles per day. Retailers in immediate area include In-N-Out, Starbucks, dd’s Discounts, Grocery Outlet, CVS, O’Reilly Auto Parts, Taco Bell, plus many more.

Exclusively Listed By

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