18600 Gridley RdArtesia, CA 90701

Property Details for 18600 Gridley Rd

Year built

1975

Construction

TILT-UP CONCRETE

Lot size

1.36 AC

Property size (Sq ft)

17,216 SF

Zone code

ATCG*

Property type

Retail properties

Property subtype

Retail space

APN

7039-008-037

APU

7039008037

Description

This exceptional investment opportunity presents a brand-new, 3,207 square foot Raising Cane's restaurant in Artesia, California. Located directly across from the 1.4 million square foot Los Cerritos Mall, this property benefits from a high-traffic, affluent area with average household incomes exceeding $117,000 within a 3-mile radius. The property features a 15-year NNN lease (commencing May 16, 2023, and expiring May 16, 2038), offering a remaining lease term of 13.5 years and a 4.25% cap rate. The strong financial performance of Raising Cane's, a top operator in the quick-service restaurant sector, ensures long-term stability and reliable cash flow for the investor. With a 100% occupancy rate and a Net Operating Income (NOI) of $455,000, this single-tenant property offers a passive investment opportunity with no landlord responsibilities. The property sits on a 1.36-acre lot (APN: 70390080370) and is zoned ATCG. Built in 2024, this is a truly turnkey investment in a prime Los Angeles County location, offering significant upside potential. The asking price is $10,705,000, translating to a price per square foot of $3,338.01. This represents a rare opportunity to acquire a best-in-class, single-tenant property in a highly desirable, infill location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,235,740

  6.5%

  $5,756,067

  7%

  $5,344,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,838,730

  Geo Method

  $13,838,730

• Alternative Use

  Use

  Valuation

  Residential

  $4,855,458

  Hospitality

  $4,447,574

  Educational

  $3,700,329

  Medical

  $3,827,589

  Retail

  $5,756,067

Location Insight

City

Artesia

County

Los Angeles

State

California

Latitude

33.8627

Longitude

-118.09

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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