20 Centerpointe DrLa Palma, CA 90623

Property Details for 20 Centerpointe Dr

Year built

1987

Lot size

3.48 AC

Property size (Sq ft)

56,280 SF

Property type

Industrial properties

Property subtype

Other industrial properties

APN

276-081-52

APU

27608152

Description

This exceptional investment opportunity presents a 56,175-square-foot, single-story, Class B office building located at 20 Centerpointe Drive in La Palma, California. The property, built in 1988, sits on a 3.57-acre lot and boasts a 100% occupancy rate with four tenants under multi-tenant leases. The asking price is $17,199,000, representing a compelling $306.17 per square foot and a 7.00% cap rate. This stabilized investment offers significant long-term stability, with only one tenant lease expiring before 2029, ensuring consistent cash flow with annual rent increases. The property benefits from a desirable location in a mid-counties campus setting, featuring lush landscaping, recently upgraded common areas, and an association lounge. Convenient surface parking, excellent freeway access via SR-91, and proximity to I-5 and I-605 freeways, Long Beach International Airport, and Metrolink stations enhance its appeal. The low-rise design aligns with favorable market trends showing robust growth and vacancy compression, exceeding that of high-rise properties. The La Palma/Buena Park submarket exhibits a low 6.9% vacancy rate (YTD4Q23), further underscoring the investment's strength. This asset provides a secure and attractive income stream in a prime Southern California location, offering an affordable alternative to other high-cost areas.

• Alternative Use

  Use

  Valuation

  Residential

  $18,328,206

  Hospitality

  $16,788,538

  Educational

  $13,967,867

  Medical

  $14,448,243

  Retail

  $21,727,792

Location Insight

City

La Palma

County

Orange

State

California

Latitude

33.8622

Longitude

-118.032

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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