370 W Sierra Madre Blvd | Sierra Madre, CA 91024
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- LoopNet Team
370 W Sierra Madre Blvd
Sierra Madre, CA 91024
Retail Property For Sale
Investment Highlights
- Attractive Offering Actual CAP Rate of 4.78% / ProForma CAP Rate of 4.92%. The ProForma CAP Rate is achieved at next built-in 3.00% rental increase.
- Tenant reimbursements cover 100% of all owner expenses including in-place professional property management and any escalations in real estate taxes.
- A majority of the tenants have demonstrated further commitment to the location with lease extensions, including rental increases. 3 tenants 15+ years
- NNN properties in the immediate area are trading between 3.50%- 4.50% CAP rates. Located at the heart of the Sierra Madre commercial corridor.
- All tenants are absolute NNN, with long term leases and built-in 3.00% annual rental increases. / Current Occupancy of 100%
- Multi-tenant strip center with ALL NNN leases provide for minimal management obligation. / Lot totaling just over 0.53 acres
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
12,491 SF
Building Class
C
Year Built
1966
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.53
Lot Size
0.54 AC
Zoning
SRC1CC-RP* - Commercial
Parking
33 Spaces (3.79 Spaces per 1,000 SF Leased)
Amenities
- Courtyard
- Metro/Subway
PROPERTY TAXES
| Parcel Number | 5768-021-031 | Improvements Assessment | $1,315,000 |
| Land Assessment | $2,800,000 | Total Assessment | $4,115,000 |
PROPERTY TAXES
Parcel Number
5768-021-031
Land Assessment
$2,800,000
Improvements Assessment
$1,315,000
Total Assessment
$4,115,000
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