For Sale
$7,108,000

26 Centerpointe DrLa Palma, CA 90623

100% Occupied, High-Cash Flow Office

Overview

Added:
Dec 11, 2024
Days on market:
114
This single-story, 22,271 square foot office building in La Palma, CA, presents a compelling investment opportunity. Located on a 1.51-acre lot at 26 Centerpointe Dr, this Class B property boasts 100% occupancy across four tenants, generating a strong cash flow with a 6.75% cap rate and a price per square foot of $319.16. Built in 1985, the property benefits from a desirable location with convenient freeway access (SR-91, I-5, I-605) and proximity to public transportation, including Metrolink stations and Long Beach International Airport. The property features a high-image campus environment with lush landscaping and recently upgraded common areas, including an association lounge. The Net Operating Income (NOI) is substantial, offering immediate cash flow with potential for future rent increases, given current in-place rents are approximately 5% below market levels. The weighted average lease term (WALT) is approximately 4.8 years, providing long-term lease stability. This stabilized investment is situated in a thriving Orange County market, known for its strong economic fundamentals and sustained rent growth, making it an attractive acquisition for investors seeking a secure and profitable asset. The asking price is $7,108,000.

Highlights

  • $7,108,000 asking price for a stabilized, Class B, 22,271 square foot office building in La Palma, CA.
  • 100% occupancy with four tenants, generating a 6.75% cap rate and $319.16 per square foot.
  • Single-story building on a 1.51-acre lot, built in 1985, located in a desirable Orange County location with convenient freeway access.
  • Strong market fundamentals with favorable low-rise trends, offering ease of ownership with NNN leases and significant income growth potential.

Property Details for 26 Centerpointe Dr

Property type
Office properties
Square Feet
22,271 SF
Class
B
Year Built
1985
Buildings
1
Stories
1
Lot Size (sq. ft)
65,776 SF

Location Insight

City
La Palma
County
Orange
State
California
Latitude
33.8607237
Longitude
-118.0327431
26 Centerpointe Dr, La Palma, California

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26 Centerpointe Dr
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