1950 Redondo Beach BlvdGardena, CA 90247

Property Details for 1950 Redondo Beach Blvd

Year built

1961

Construction

TILT-UP CONCRETE

Lot size

0.41 AC

Property size (Sq ft)

3,150 SF

Zone code

GAR1

Property type

Retail properties

Property subtype

Auto shops

APN

4066-006-001

APU

4066006001

Description

This exceptional investment opportunity presents a 3,150 square foot, single-tenant net-leased retail property located at 1950 W Redondo Beach Blvd, Gardena, CA 90247. The property is 100% occupied by Hertz Corporation under a 10-year lease (commencing June 18, 2019, expiring May 18, 2029), with approximately 4.5 years remaining. The lease includes annual rent bumps, providing consistent income growth. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $159,979, with an asking price of $3,200,000 ($1,015 per square foot). Built in 1961 and renovated in 2019, this strategically located retail space sits on a 17,700 square foot lot zoned for general commercial use. Its prime location at a signalized intersection of Redondo Beach Blvd and Gramercy Pl offers high visibility and accessibility, benefiting from significant daily traffic and proximity to residential and commercial areas. The surrounding area features a dense population with high average household incomes and numerous established retailers, ensuring consistent customer traffic. This property is an ideal investment for those seeking a stable, high-return asset with minimal management responsibilities. The corporate guarantee from Hertz, a globally recognized brand, further mitigates risk. The property's size also makes it suitable for 1031 exchange purposes. APN: 4066-006-001.

• CAP approach

  CAP return

  Valuation

  6%

  $1,471,795

  6.5%

  $1,358,580

  7%

  $1,261,539

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,915,122

  Geo Method

  $1,915,122

• Alternative Use

  Use

  Valuation

  Residential

  $1,146,013

  Hospitality

  $1,049,742

  Educational

  $873,373

  Medical

  $903,410

  Retail

  $1,358,580

Location Insight

City

Gardena

County

Los Angeles

State

California

Latitude

33.8868

Longitude

-118.313

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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