Improved Industrial
3225 E Washington Blvd, Vernon, CA 90058
For Sale
$5,800,000
A long-term ground lease provides contractual rent through May 31, 2046, with the tenant responsible for real estate taxes and assessments.
Property Size35,221 SF
Price / SF$164.67
Days on Market16
Property Features for 3225 E Washington Blvd
General Information
Standard status
Size
Property subtype
Amenities
Fee ownership of 97,783 SF of Central Los Angeles industrial land
Approximately $59.32/SF land basis
$156,000 annual contractual ground rent through May 31, 2046
Tenant responsible for real estate taxes per lease documents
Long-term residual / reversionary interest in ±2.24 acres
~45M SF Vernon industrial market with minimal new supply
Immediate access to DTLA, the Alameda Corridor and the ports
Building Details
Building Size
Year Built
Listing Agency:
Encino Office
Listed By:
Floyd Shaheen · License #License(s): CA: 01960743
(818) 212-2667
Source:
Marcusmillichap
Added: Oct 24
Changed: Nov 6
Last Checked: Nov 8 at 2:06AM
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 Encino Office
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Investment Insights
Based on property information with market context.
This industrial property in Vernon comprises 97,783 square feet of land, improved with 35,221 square feet of buildings and 7,900 square feet of covered loading. The buildings date to 1948. The offering is the fee interest in the property, which is subject to a ground lease extending through May 31, 2046.
The tenant is responsible for real estate taxes and assessments under the lease documents. The property is located at 3225 E Washington Blvd in Vernon, California.
The tenant is responsible for real estate taxes and assessments under the lease documents. The property is located at 3225 E Washington Blvd in Vernon, California.
Key Highlights
- 97,783 square feet of industrial land
- 35,221 square feet of buildings, constructed in 1948
- 7,900 square feet of covered loading
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$411,595
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,231,900
$8.2M
Cap Rate 7%
$5,879,929
$5.9M
Cap Rate 9%
$4,573,278
$4.6M
Market Conditions
NOI Build-Up for 35,221 SF
Gross rent
$625.5K $17.76/SF
− Vacancy
−$37.5K −$1.07/SF
EGI
$588.0K $16.69/SF
− OpEx
−$176.4K −$5.01/SF
NOI
$411.6K $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 Rate 5%
$8,231,900
Cap Rate 7%
$5,879,929
Cap Rate 9%
$4,573,278
Alternative Uses
Best Use
Industrial
$5.88M
$5.14M – $6.86M
NOI $411,595 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.86M
$16.50M – $22.00M
NOI $1,320,003 @ 7.0% cap · market cap 22.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 90058, CA
3,751
Population
1,179
Households
3.2
Avg Household Size
31
Median Age
22%
College-Educated
58%
High-School Grad
5.8 sq mi
ZIP Area
647
Density / Sq Mi
$36,680
Median Household Income
$24,594
Median Earnings
$1,030
Median Rent
$456,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Industrial land in Los Angeles County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Industrial land - A long-term ground lease provides contractual rent through May 31, 2046, with the tenant responsible for real estate taxes and assessments.
Where is this industrial land located?
The property is located at 3225 E Washington Blvd Vernon, CA.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: 97,783 square feet of industrial land; 35,221 square feet of buildings, constructed in 1948; 7,900 square feet of covered loading
