11642 Firestone BlvdNorwalk, CA 90650
- Office properties
- 10,040 SF
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 properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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