Cerritos Retail Shopping
For Sale
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17500 Carmenita Rd, Cerritos, CA 90703
42,568 SF shopping center in Los Angeles/Orange County metro area.
Property Size42,568 SF
Lot Size3.80 Acres
Price / SF$251.36
Days on Market188
Property Features for 17500 Carmenita Rd
General Information
Standard status
Active
Size
42,568 SF
Lot size
3.80 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$717,266
Building Details
Tenancy
Multi
Listing Agency:
Miguel Aguilo Real Estate
(310) 316-1014
Listed By:
Miguel Aguilo · License #01273198
Source:
Crexi
Added: Feb 5
Changed: Aug 8
Last Checked: Aug 12 at 11:56AM
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 Miguel Aguilo Real Estate
Investment Insights
Based on property information with market context.
This neighborhood shopping center, built in 1971 and renovated in 2002, is situated in a central location within the Los Angeles / Orange County metro area. The property has a total rentable area of 42,568 square feet and is positioned on a 3.8-acre parcel. The location offers convenient access to Downtown Los Angeles (20 miles), Disneyland / Anaheim (9 miles), and John Wayne Airport (20 miles). The property benefits from stable in-place cash flow supported by daily-needs tenancy and an NNN expense structure with full recovery of operating costs. It is located in a supply-constrained, high-income trade area. The property offers value-add upside through recapture and re-leasing of 26,676 square feet at market rents. Below-market in-place rents provide embedded rent growth. The area has strong demographics with above-average household incomes and employment density. The property has long-term land value supported by its 3.8-acre parcel in a core Los Angeles submarket.
Key Highlights
- Value‑Add Upside: Recapture and re‑lease 26,676 SF at market rents to significantly increase revenue.
- Attractive Infill Retail Location: Situated in a supply‑constrained, high‑income trade area within the Los Angeles/Orange County metro area.
- Stable In‑Place Cash Flow: Supported by daily‑needs tenancy, providing immediate returns.
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
$941,800
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
8.80%
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%
$18,836,000
$18.8M
Cap Rate 7%
$13,454,286
$13.5M
Cap Rate 9%
$10,464,444
$10.5M
Market Conditions
NOI Build-Up for 42,568 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
$1.44M $33.84/SF
− Vacancy
−$95.1K −$2.23/SF
EGI
$1.35M $31.61/SF
− OpEx
−$403.6K −$9.48/SF
NOI
$941.8K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /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%
$18,836,000
Cap Rate 7%
$13,454,286
Cap Rate 9%
$10,464,444
Alternative Uses
Best Use
Retail
$13.45M
$11.77M – $15.70M
NOI $941,800 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$22.79M
$19.94M – $26.59M
NOI $1,595,352 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90703, CA
49,735
Population
16,160
Households
3.1
Avg Household Size
46
Median Age
57%
College-Educated
94%
High-School Grad
8.7 sq mi
ZIP Area
5,717
Density / Sq Mi
$133,300
Median Household Income
$62,992
Median Earnings
$2,910
Median Rent
$906,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Cerritos Towne Center — 12731 Towne Center Dr, Cerritos, CA 90703
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Frequently Asked Questions
What type of property is this?
Shopping center - 42,568 SF shopping center in Los Angeles/Orange County metro area.
Where is this shopping center located?
The property is located at 17500 Carmenita Rd Cerritos, CA.
What is the asking price?
The asking price for this property is $10,700,000.
What are key features of this property?
This property features: Value‑Add Upside: Recapture and re‑lease 26,676 SF at market rents to significantly increase revenue.; Attractive Infill Retail Location: Situated in a supply‑constrained, high‑income trade area within the Los Angeles/Orange County metro area.; Stable In‑Place Cash Flow: Supported by daily‑needs tenancy, providing immediate returns.
