24 Centerpointe DrLa Palma, CA 90623

Property Details for 24 Centerpointe Dr

Year built

1987

Lot size

1.40 AC

Property size (Sq ft)

22,657 SF

Property type

Industrial properties

Property subtype

Other industrial properties

APN

276-081-54

APU

27608154

Description

This exceptional 22,682 square foot manufacturing facility, located at 24 Centerpointe Drive in La Palma, California (Orange County, zip code 90623), presents a compelling investment opportunity. The property boasts a single-tenant, triple-net (NNN) lease with a remaining term of approximately 4.4 years, extending to March 30, 2029. Built in 1988, this one-story building sits on a 1.46-acre lot and offers 73 parking spaces. The asking price is $6,242,000, representing a price per square foot of $275.20 and a 5.25% cap rate. The property features a low-rise office building within a unique campus setting, complete with lush landscaping and recent multi-million-dollar common-area upgrades. Excellent ingress and egress are provided by direct freeway access, and abundant on-campus and surrounding amenities are readily available. The long-term lease ensures ease of ownership and durable passive income, while the current rent, 34% below market, offers significant upside potential. The property's assessed value is significantly below estimated replacement cost. The APN is 276-081-54.

• Alternative Use

  Use

  Valuation

  Residential

  $7,391,726

  Hospitality

  $6,770,782

  Educational

  $5,633,210

  Medical

  $5,826,946

  Retail

  $8,762,772

Location Insight

City

La Palma

County

Orange

State

California

Latitude

33.8612

Longitude

-118.033

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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