11642 Firestone BlvdNorwalk, CA 90650

Property Details for 11642 Firestone Blvd

Year built

1955

Construction

TILT-UP CONCRETE

Lot size

0.99 AC

Property size (Sq ft)

10,040 SF

Zone code

NOC3VV

Property type

Office buildings

APN

8048-007-002

APU

8048007002

Description

This exceptional 43,000 square foot commercial land parcel, located at 11642A Firestone Blvd, Norwalk, CA 90650, presents a unique investment opportunity. Zoned NOC3, this single-tenant property boasts 215 feet of frontage on Firestone Boulevard and is conveniently situated near the intersection of Firestone and Pioneer. The ground lease price has been significantly reduced to $0.50 per square foot per month plus NNN. The existing building is easily demolished, making it perfect for redevelopment. Its prime location adjacent to a bustling Northgate Market ensures high visibility and foot traffic. The area benefits from a dense population and excellent freeway access via the I-5, I-605, and I-105 freeways. This property is also available for sale at $4,300,000. The City of Norwalk is actively encouraging multi-family development, with or without retail components, and three adjacent parcels are designated for residential development. Combining this property with the adjacent parcels would create a substantial approximately 4.5-acre site, presenting significant development potential. APN: 8048-007-002. This is a rare chance to acquire a strategically located commercial property in a thriving Los Angeles County (south) submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $2,884,356

  6.5%

  $2,662,483

  7%

  $2,472,305

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,909,206

  Geo Method

  $1,909,206

• Alternative Use

  Use

  Valuation

  Residential

  $3,301,478

  Hospitality

  $3,024,136

  Educational

  $2,516,046

  Medical

  $2,602,577

  Retail

  $3,913,850

Location Insight

City

Norwalk

County

Los Angeles

State

California

Latitude

33.9141

Longitude

-118.085

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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