For Sale
$6,242,000

24 Centerpointe DrLa Palma, CA 90623

Single-tenant, NNN lease, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 22,682 square foot manufacturing facility, located at 24 Centerpointe Drive in La Palma, California (Orange County, zip code 90623), presents a compelling investment opportunity. The property boasts a single-tenant, triple-net (NNN) lease with a remaining term of approximately 4.4 years, extending to March 30, 2029. Built in 1988, this one-story building sits on a 1.46-acre lot and offers 73 parking spaces. The asking price is $6,242,000, representing a price per square foot of $275.20 and a 5.25% cap rate. The property features a low-rise office building within a unique campus setting, complete with lush landscaping and recent multi-million-dollar common-area upgrades. Excellent ingress and egress are provided by direct freeway access, and abundant on-campus and surrounding amenities are readily available. The long-term lease ensures ease of ownership and durable passive income, while the current rent, 34% below market, offers significant upside potential. The property's assessed value is significantly below estimated replacement cost. The APN is 276-081-54.

Highlights

  • Long-term, single-tenant net lease investment opportunity.
  • Low-rise office building in a landscaped campus setting with recent common area upgrades and convenient freeway access.
  • NNN lease provides stable, passive income with significant upside potential due to below-market rents (currently 34% below market).
  • Offered significantly below replacement cost of $423/SF.

Property Details for 24 Centerpointe Dr

Property type
Office properties, Industrial properties
Square Feet
22,682 SF
Year Built
1988
Stories
1
Lot Size (sq. ft)
63,598 SF

Location Insight

City
La Palma
County
Orange
State
California
Latitude
33.8611542
Longitude
-118.0327889
24 Centerpointe Dr, La Palma, California

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24 Centerpointe Dr
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