Multi-Tenant Industrial Property For
For Sale
$5,490,000
Pending
2402 Seaman Ave, South El Monte, CA 91733
Single-story industrial property with versatile logistics, light manufacturing, and flex opportunities.
Property Size20,866 SF
Lot Size0.82 Acres
Days on Market162
Property Features for 2402 Seaman Ave
General Information
Standard status
Pending
Size
20,866 SF
Lot size
0.82 Acres
Property subtype
Industrial
Building Details
Building Size
20,866 SF
Year Built
1956
Units
3
Listing Agency:
Growth Investment Group Pasade
(626) 224-2495
Listed By:
Handoko Chen · License #01749321
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 14 at 7:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Growth Investment Group Pasade
Investment Insights
Based on property information with market context.
The property at 2402 Seaman Ave is a single-story, multi-tenant industrial building for sale. The property features a building of approximately 20,866 square feet on a corner lot of approximately 35,706 square feet. The property is located in the City of South El Monte, one block from Garvey Ave and two blocks from FWY 19/Rosemead Blvd, providing access to multiple freeways including FWY 10, FWY 60, and FWY 605. These freeways offer access to Downtown Los Angeles, the Port of Los Angeles and Port of Long Beach, the City of Industry, and the Inland Empire. The property is suitable for logistics, light manufacturing, and flex industrial uses. It consists of three units: 2402 Seaman, 2408 Seaman, and 9919 Klingerman. The units are separately metered for electricity and feature flexible office/showroom space, plumbed restrooms, kitchenettes, ample parking with 29 total spaces, and paved and securely gated lots. Units 2402 and 2408 Seaman share one water meter. Unit 2408 Seaman has approximately 8,800 square feet of space with a bonus mezzanine. It has one loading dock with access from the alley and two grade loading doors with access to the street and interior gated lot. The warehouse portion of the unit has approximately 15 to 17-foot clear heights. Units 2402 Seaman and 9919 Klingerman are occupied by long-term tenants with lease terms ending in 2024. Unit 9919 Klingerman has approximately 8,000 square feet of space with a distribution of warehouse space and a showroom/office, and two grade loading doors. Unit 2408 Seaman is vacant, offering an opportunity for an owner-user to occupy the space for 3PL or flex industrial purposes.
Key Highlights
- Priced below market value.
- Excellent location with easy access to FWY 10, FWY 60, and FWY 605.
- Vacant ±8,800 SF unit with bonus mezzanine, suitable for owner‑user, 3PL, or flex industrial, offering immediate occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$243,842
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,876,840
$4.9M
Cap Rate 7%
$3,483,457
$3.5M
Cap Rate 9%
$2,709,356
$2.7M
Market Conditions
NOI Build-Up for 20,866 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$370.6K $17.76/SF
− Vacancy
−$22.2K −$1.07/SF
EGI
$348.3K $16.69/SF
− OpEx
−$104.5K −$5.01/SF
NOI
$243.8K $11.69/SF
Area
Los Angeles County, CA
Vacancy
6.00%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,876,840
Cap Rate 7%
$3,483,457
Cap Rate 9%
$2,709,356
Alternative Uses
Best Use
Industrial
$3.48M
$3.05M – $4.06M
NOI $243,842 @ 7.0% cap · market cap 4.44%
Second Best
Flex RnD
$2.66M
$2.33M – $3.10M
NOI $186,279 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$11.17M
$9.78M – $13.03M
NOI $782,010 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,213
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91733, CA
41,990
Population
11,172
Households
3.8
Avg Household Size
36
Median Age
11%
College-Educated
56%
High-School Grad
6.7 sq mi
ZIP Area
6,267
Density / Sq Mi
$67,245
Median Household Income
$32,486
Median Earnings
$1,658
Median Rent
$601,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single-story industrial property with versatile logistics, light manufacturing, and flex opportunities.
Where is this flex space located?
The property is located at 2402 Seaman Ave South El Monte, CA.
What is the asking price?
The asking price for this property is $5,490,000.
What are key features of this property?
This property features: Priced below market value.; Excellent location with easy access to FWY 10, FWY 60, and FWY 605.; Vacant ±8,800 SF unit with bonus mezzanine, suitable for owner‑user, 3PL, or flex industrial, offering immediate occupancy.
