3508 Firestone BlvdSouth Gate, CA 90280
- Retail properties
- 3,844 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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