23401 Western AveTorrance, CA 90501

Property Details for 23401 Western Ave

Year built

1951

Construction

WOOD

Lot size

0.45 AC

Property size (Sq ft)

10,980 SF

Zone code

TOCC-GEN

Property type

Retail properties

Property subtype

Retail space

APN

7360-012-051

APU

7360012051

Description

This exceptional 1,600-square-foot retail storefront is ideally situated on Western Avenue in Torrance, California, a major thoroughfare boasting an impressive daily traffic count of approximately 32,159 vehicles. The property, a single-tenant space within a one-story building in Los Angeles County (zip code 90501), benefits from excellent visibility and convenient on-site parking. Recently renovated, the space features a clean, open layout, new HVAC, updated storefront glass, a new electrical panel, and an ADA-compliant bathroom. This turnkey opportunity is ready for immediate occupancy. The surrounding area demonstrates strong market performance, with 79,000 square feet of net absorption in the past year and average annual rental rate gains of 2.2% over the last three years. While recent transaction volume ($91.7 million in the past 12 months) is below historical levels, the submarket shows positive momentum with 410,000 square feet of retail space currently under construction. Despite a delay in a large-scale project (Los Angeles Premium Outlets), the market is projected for continued growth. Current market retail asset pricing averages $400 per square foot, approximately 10% below Greater Los Angeles averages. This presents a compelling opportunity for businesses seeking a well-located, updated retail space in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,130,258

  6.5%

  $4,735,622

  7%

  $4,397,364

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,675,568

  Geo Method

  $6,675,568

• Alternative Use

  Use

  Valuation

  Residential

  $3,994,675

  Hospitality

  $3,659,101

  Educational

  $3,044,329

  Medical

  $3,149,028

  Retail

  $4,735,622

Location Insight

City

Torrance

County

Los Angeles

State

California

Latitude

33.8131

Longitude

-118.309

CBSA code

31080

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].