3508 Firestone BlvdSouth Gate, CA 90280

  • Retail properties
  • 3,844 SF
For Sale
$1,495,000 View listing

Property Details for 3508 Firestone Blvd

Year built
1927
Construction
TILT-UP CONCRETE
Lot size
0.18 AC
Property size (Sq ft)
3,844 SF
Zone code
SGCM*
Property type
Retail properties
Property subtype
Other retail properties
APN
6210-016-001
APU
6210016001

Description

This exceptional investment opportunity presents a 4,660 square foot, L-shaped freestanding retail building situated on an 8,011 square foot lot in South Gate, California. The property, built in 1927 and renovated in 2021, features two units with 25% current occupancy and boasts a pro-forma NOI of $106,128 and a 7.10% pro-forma cap rate. The asking price is $1,495,000 ($320.82/sq ft). Located at 3508 Firestone Blvd, this single-story building benefits from approximately 80 feet of frontage on a major thoroughfare with approximately 38,000 cars passing daily, ensuring high visibility. On-site and ample street parking is available. The property is zoned SG-CM and is conveniently located less than 0.2 miles from South Gate City Hall and the Police Department, adjacent to a Jack in the Box, and near other retailers including Family Dollar, Taco Bell, and El Super. The area's strong demographics include over 60,000 residents within a 1-mile radius and over 450,000 within a 3-mile radius, offering significant potential for growth and return on investment. This owner/user opportunity is ideal for investors seeking a strong cash flow or businesses looking for a high-traffic location. The property's location near schools, including South Gate High School and Independence Elementary School, further enhances its appeal.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,623,364
    6.5%
    $1,498,490
    7%
    $1,391,455
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,842,057
    Geo Method
    $1,842,057
  • Alternative Use

    Use
    Valuation
    Residential
    $1,264,032
    Hospitality
    $1,157,847
    Educational
    $963,315
    Medical
    $996,445
    Retail
    $1,498,490
3508 Firestone Blvd, South Gate, California

Location Insight

City
South Gate
County
Los Angeles
State
California
Latitude
33.9539
Longitude
-118.206
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$10,559
$477,543
$302,444
$779,987
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