This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Herondo Plaza 901 N Pacific Coast Hwy
24,256 SF 62% Leased Office Building Redondo Beach, CA 90277 $12,000,000 ($495/SF) 3.89% Cap Rate
Investment Highlights
- Gateway to South Bay Beach Communities - Redondo - Hermosa and Manhattan Beach's
- Ocean view suites with views of the Palos Verdes Peninsula and beyond to Catalina.
- 110 parking spaces on site with plenty of curbside parking as well
- Prime signalized high exposure corner with over 90K cars passing by daily
- A value add opportunity with a 4k ocean office available for an owner user or to lease at a premium rate
- New exterior paint in 2022 and resurfaced roof in 2021 then serviced in 2023
Executive Summary
Gateway to Redondo - This Contemporary Commercial facility with three buildings is located on the N/ W signalized corner of PCH and Herondo/Anita (190th) with a traffic count of 90k cars per day. There is 130 feet of frontage along Pacific Coast Hwy and 704 feet along Herondo providing optimum street exposure on over an acre of land on a premium corner lot connecting the Redondo and Hermosa Beach communities. A value add or owner user opportunity with an ocean view 4k - 2nd floor office suite available for an owner user or lease out at premium market rents. There are 8 suites that have the flexibility for leasing to retail, general and medical office. The current seasoned tenants include a dentist, restaurant, yoga studio, wellness, rehab and a fitness center with 110 on site parking spots and plenty of curbside parking along Herondo. Strong rental base with seasoned current tenants with a current 3.1 cap rate with current income - great upside with renting out the vacant space and capitalize on either securing new tenants at market rates and conceivably achieve a 5% cap rate within a year or occupy an approx. 4,600 sf ocean view office space and let the building pay for it.
Opportunity is knocking as sure as the local pounding waves fill the airways of the local beach communities.
Data Room Click Here to Access
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$605,441
|
$24.96
|
| Other Income |
$45,932
|
$1.89
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$651,373
|
$26.85
|
| Taxes |
$55,403
|
$2.28
|
| Operating Expenses |
$128,794
|
$5.31
|
| Total Expenses |
$184,197
|
$7.59
|
| Net Operating Income |
$467,176
|
$19.26
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $605,441 |
| Annual Per SF | $24.96 |
| Other Income | |
|---|---|
| Annual | $45,932 |
| Annual Per SF | $1.89 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $651,373 |
| Annual Per SF | $26.85 |
| Taxes | |
|---|---|
| Annual | $55,403 |
| Annual Per SF | $2.28 |
| Operating Expenses | |
|---|---|
| Annual | $128,794 |
| Annual Per SF | $5.31 |
| Total Expenses | |
|---|---|
| Annual | $184,197 |
| Annual Per SF | $7.59 |
| Net Operating Income | |
|---|---|
| Annual | $467,176 |
| Annual Per SF | $19.26 |
Property Facts
Amenities
- Bus Line
- Fitness Center
- Food Service
- Restaurant
- Signage
- Reception
- Drop Ceiling
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
2nd story office - approximately 4,600 sf - (can be divided into approximately two suites) currently - divided into multiple offices some with ocean and city views. Elevator served with direct access to the parking areas (with approximately 110 space on site and plenty of additional public parking curbside). Landlord is resurfacing parking area as part of a rehab project of removing old planters, upgrading existing parking area, improving the exterior lighting in the parking area, adding more ADA parking stalls, updating the monument sign in front and re-doing the landscaping - all part of a rehab project now under way. Intro lease rate starting at $2.75 per foot to be adjusted market level of $3.25 per foot within two years.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 200 | 2,000-4,582 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 200
| Size |
| 2,000-4,582 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 200
| Size | 2,000-4,582 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
2nd story office - approximately 4,600 sf - (can be divided into approximately two suites) currently - divided into multiple offices some with ocean and city views. Elevator served with direct access to the parking areas (with approximately 110 space on site and plenty of additional public parking curbside). Landlord is resurfacing parking area as part of a rehab project of removing old planters, upgrading existing parking area, improving the exterior lighting in the parking area, adding more ADA parking stalls, updating the monument sign in front and re-doing the landscaping - all part of a rehab project now under way. Intro lease rate starting at $2.75 per foot to be adjusted market level of $3.25 per foot within two years.
PROPERTY TAXES
| Parcel Number | 7503-014-016 | Total Assessment | $4,474,158 (2024) |
| Land Assessment | $1,121,990 (2024) | Annual Taxes | $55,403 ($2.28/SF) |
| Improvements Assessment | $3,352,168 (2024) | Tax Year | 2022 Payable 2022 |
PROPERTY TAXES
Presented by
Herondo Plaza | 901 N Pacific Coast Hwy
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.