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

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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