9000 Garvey AveRosemead, CA 91770

Property Details for 9000 Garvey Ave

Year built

1986

Lot size

2.60 AC

Property size (Sq ft)

44,805 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional value-add opportunity presents a 44,805 square foot shopping center situated on a 2.6-acre lot in Rosemead, California. The property boasts 32 tenants with 95% occupancy, generating a current NOI of $715,150 and a projected NOI of $1,268,103, representing a pro-forma cap rate of 7.46%. Built in 1986, the single-story, four-building complex features a prominent Garvey Avenue location with high visibility, including a pylon sign and two monument signs. The C3-MU zoning allows for diverse redevelopment options. The asking price is $15,250,000, translating to $340.36 per square foot and $146 per square foot of land value. The property benefits from high traffic counts on Garvey Avenue and Rosemead Boulevard, exceeding 23,705 vehicles per day and 77,000 vehicles per day at the intersection, respectively. Located in a densely populated area with a strong average household income, this center offers significant rental upside potential due to lease renegotiation opportunities with long-term tenants. The property is offered fee simple and is suitable for a 1031 exchange. This is a rare opportunity to acquire a multi-generational investment in a thriving San Gabriel Valley market, first available for sale in nearly two decades. The property's location provides excellent access to freeways 10 and 60.

Location Insight

City

Rosemead

County

Los Angeles

State

California

Latitude

34.0624

Longitude

-118.073

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