Drive-Through Anchored Shopping
For Sale
Contact for pricing
17640-17648 Bellflower Boulevard, Bellflower, CA 90706
Newly built multi-tenant retail center with NNN restaurant leases, prominent signage, and access at a signalized intersection.
Property Size16,023 SF
Price / SF$760.86
Days on Market9
Property Features for 17640-17648 Bellflower Boulevard
General Information
Standard status
Active
Size
16,023 SF
Class
A
Total Parking Spaces
61
Property subtype
Retail
Zoning
CG
Occupancy
60%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$410,704
Building Details
Year Built
2024
Buildings
2
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Los Angeles
(213) 943-1781
Listed By:
Ara Rostamian · License #CA 01814678
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Sep 1 at 5:55AM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Completed in 2024, this 16,023-square-foot shopping center combines multi-tenant retail space with drive-through restaurant improvements. The property includes Starbucks and Chipotle drive-through operations, an 11-car stacking lane, and outdoor seating at Chipotle. Additional tenants include Wing Zone, Firehouse Subs, and Cassidy's Corner. Existing occupancies are structured under NNN leases, while the center is currently 60% occupied with remaining space available for lease-up. The property is zoned CG.
The center occupies a signalized intersection along Bellflower Boulevard at 17640-17648 Bellflower Boulevard in Bellflower, California. It offers direct access to the CA-91 Freeway and exposure to more than 27,000 vehicles per day. More than 680,000 residents live within a five-mile radius, where average household incomes exceed $115,000. Surrounding development includes announced retailers and commercial additions such as In-N-Out Burger, Dutch Bros, Habit Burger, 7-Eleven with gas, and EV charging stations.
The center occupies a signalized intersection along Bellflower Boulevard at 17640-17648 Bellflower Boulevard in Bellflower, California. It offers direct access to the CA-91 Freeway and exposure to more than 27,000 vehicles per day. More than 680,000 residents live within a five-mile radius, where average household incomes exceed $115,000. Surrounding development includes announced retailers and commercial additions such as In-N-Out Burger, Dutch Bros, Habit Burger, 7-Eleven with gas, and EV charging stations.
Key Highlights
- 16,023‑square‑foot shopping center completed in 2024
- Starbucks and Chipotle drive‑through operations anchor the center
- Starbucks includes an 11‑car stacking lane; Chipotle offers outdoor seating
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
$379,824
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
3.12%
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%
$7,596,480
$7.6M
Cap Rate 7%
$5,426,057
$5.4M
Cap Rate 9%
$4,220,267
$4.2M
Market Conditions
NOI Build-Up for 16,023 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
$542.2K $33.84/SF
− Vacancy
−$35.8K −$2.23/SF
EGI
$506.4K $31.61/SF
− OpEx
−$126.6K −$7.90/SF
NOI
$379.8K $23.70/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
25.00%
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%
$7,596,480
Cap Rate 7%
$5,426,057
Cap Rate 9%
$4,220,267
Alternative Uses
Best Use
Specialty Retail
$5.43M
$4.75M – $6.33M
NOI $379,824 @ 7.0% cap · market cap 3.12%
Second Best
Retail
$5.06M
$4.43M – $5.91M
NOI $354,502 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$8.58M
$7.51M – $10.01M
NOI $600,506 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
258k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 22%
In-N-Out Burger
Dining
70,007 visits/mo
0.2 miles
Golden Corral
Dining
21,490 visits/mo
0.2 miles
ARCO
Shops & Services
20,426 visits/mo
0.5 miles
Starbucks
Dining
18,374 visits/mo
0.1 miles
Jack in the Box
Dining
17,653 visits/mo
0.0 miles
Demographics for 90706, CA
79,179
Population
24,499
Households
3.2
Avg Household Size
36
Median Age
20%
College-Educated
78%
High-School Grad
6.1 sq mi
ZIP Area
12,980
Density / Sq Mi
$77,602
Median Household Income
$38,452
Median Earnings
$1,771
Median Rent
$661,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Newly built multi-tenant retail center with NNN restaurant leases, prominent signage, and access at a signalized intersection.
Where is this shopping center located?
The property is located at 17640-17648 Bellflower Boulevard Bellflower, CA.
What is the asking price?
The asking price for this property is $12,191,293.
What are key features of this property?
This property features: 16,023‑square‑foot shopping center completed in 2024; Starbucks and Chipotle drive‑through operations anchor the center; Starbucks includes an 11‑car stacking lane; Chipotle offers outdoor seating
