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Derrick Kim
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18714 Gridley Road, Cerritos, CA 90703 (MLS # PW20013890)

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PRICE $9,999,999
SIZE 22,112 sq ft
LOT SIZE 1.14 ac

Great opportunity for an investor to acquire a free standing 22,112 square foot building in Cerritos, California, choice location in one of Southern California's busiest retail corridors. Building has been 100% occupied since completion. High traffic area with low historic vacancy rate. Present tenant is a fortune top 20, and the second present tenant is a publicly traded company with over 400 locations nationally. Tenant # one just entered into the third of five 5-year options, tenant #2 just started the first 5-year lease with two 5-year renewal options. Both Leases corporately guaranteed. Enjoy Solid Income with large national corporate guarantees. The building is located directly across from Macy's and the Cerritos mall, and located between a Wells Fargo and Target Super Center. The 91 and 605 Freeways are both less than a mile away. The Cerritos mall has just undergone an extensive remodel and additional square footage added to the mall to fulfill local demand. Retail vacancy rate currently in Cerritos is 2% according to the latest data Q1 2019. Cerritos annual tax revenue from 2009-2017 increased 49.6% showing a strong long term draw to the area for retail with strong annual growth.

DAYS ON MARKET 283 LAST UPDATED 1/20/2020
YEAR BUILT 1996 COMMUNITY Cerritos South of 91 Frwy, W of Norwalk
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) CommercialSale


ADDITIONAL DETAILS
BUILDINGAREAUNITS Square Feet
BUILDINGSTATUS Existing
COMMONINTEREST None
CONDOAREAUNITS Square Feet
COOLING Central Air
HEATING Central
LANDUSE Retail
LAUNDRYFEATURES None
LEASABLEAREAUNITS Square Feet
LISTAGENTSTATELICENSE 00459720
LOTFEATURES 0-1 Unit/Acre, Level, Lot Over 40000 Sqft, Near Public Transit, Rectangular Lot
LOTSIZESOURCE Assessor
LOTSIZEUNITS Square Feet
MLSAREAMAJOR RD - Cerritos South of 91 Frwy, W of Norwalk
PARCELNUMBER 7039019076
PRICEPERSQUAREFOOT 452.24
PROPERTYSUBTYPE Retail
PROPERTYTYPE Commercial Sale
SPECIALLISTINGCONDITIONS Standard
STANDARDSTATUS Active
WATERSOURCE Public

ZESTIMATE
  18714 Gridley Road, Cerritos, CA

RENT ZESTIMATE
  18714 Gridley Road, Cerritos, CA

84 Very Walkable



 
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Listing provided by : Ramon Rodriguez License # 00459720, United Assoc. Brokers Top Rlty

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of 10/24/20 5:18 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information