Hawthorne Industrial Opportunity: Two
For Sale
$5,900,000
13623 Crenshaw, Hawthorne, CA 90250
Two industrial buildings totaling 22,000 SF near SpaceX and LAX.
Property Size22,700 SF
Lot Size0.79 Acres
Price / SF$268.18
Days on Market141
Property Features for 13623 Crenshaw
General Information
Standard status
Active
Size
22,700 SF
Lot size
0.79 Acres
Property subtype
Industrial
Building Details
Building Size
22,700 SF
Year Built
1953
Units
6
Listing Agency:
Century 21 Jervis & Associates
(562) 862-2226
Listed By:
Dale Jervis · License #00849695
(562) 862-2226
Source:
Elliman
Added: Apr 4
Changed: Aug 8
Last Checked: Aug 21 at 1:33PM
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 Century 21 Jervis & Associates
Investment Insights
Based on property information with market context.
This industrial property, situated in the Hawthorne business corridor, comprises two free-standing buildings totaling approximately 22,000 square feet on a 0.79-acre lot. Building 1, constructed with block walls, offers 8,000 square feet of space with an 18-foot clear ceiling height and three grade-level roll-up doors of the following dimensions: 12 feet by 19.5 feet, 9.25 feet by 10 feet, and 11 feet by 10 feet. Building 2 features concrete tilt-up construction, providing 14,700 square feet with a 14-foot clear ceiling height and eight grade-level roll-up doors, each measuring 10 feet by 12 feet. The property includes ample open space with parking for 37 cars, truck turning access, and a raised loading dock. It benefits from heavy power, abundant natural light via skylights, and a secured, fenced yard suitable for private parking or storage. The location offers immediate access to the 105, 405, and 110 freeways and is minutes from SpaceX, LAX, and the Beach Cities. The property has a bike score of 71, indicating it is very bikeable, a walk score of 70, indicating it is somewhat walkable, and a transit score of 43, indicating some transit options are available. This property is perfectly positioned for an owner-user.
Key Highlights
- Prime South Bay industrial location, minutes from SpaceX, LAX, and Beach Cities.
- Two free‑standing buildings totaling 22,000 SQFT on a 0.79‑acre lot.
- Immediate access to the 105, 405, and 110 freeways.
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
$286,263
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
4.85%
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%
$5,725,260
$5.7M
Cap Rate 7%
$4,089,471
$4.1M
Cap Rate 9%
$3,180,700
$3.2M
Market Conditions
NOI Build-Up for 22,000 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
$353.8K $16.08/SF
− Vacancy
−$17.0K −$0.77/SF
EGI
$336.8K $15.31/SF
− OpEx
−$50.5K −$2.30/SF
NOI
$286.3K $13.01/SF
Area
Los Angeles County, CA
Vacancy
4.80%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
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%
$5,725,260
Cap Rate 7%
$4,089,471
Cap Rate 9%
$3,180,700
Alternative Uses
Best Use
Warehouse
$4.09M
$3.58M – $4.77M
NOI $286,263 @ 7.0% cap · market cap 4.85%
Second Best
Industrial
$3.67M
$3.21M – $4.28M
NOI $257,094 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$11.78M
$10.31M – $13.74M
NOI $824,510 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90250, CA
97,653
Population
34,105
Households
2.9
Avg Household Size
35
Median Age
26%
College-Educated
79%
High-School Grad
6.8 sq mi
ZIP Area
14,361
Density / Sq Mi
$74,923
Median Household Income
$40,288
Median Earnings
$1,723
Median Rent
$827,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Two industrial buildings totaling 22,000 SF near SpaceX and LAX.
Where is this warehouse located?
The property is located at 13623 Crenshaw Hawthorne, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Prime South Bay industrial location, minutes from SpaceX, LAX, and Beach Cities.; Two free‑standing buildings totaling 22,000 SQFT on a 0.79‑acre lot.; Immediate access to the 105, 405, and 110 freeways.
