1950 Redondo Bch Blvd Gardena, CA 90247-3652

Property Details for 1950 Redondo Bch Blvd

Year built

1961

Construction

TILT-UP CONCRETE

Lot size

0.41 lot acres

Property size

3,150 SF

Zone code

GAR1

Property type

Auto shops

APN

4066-006-001

APU

4066006001

Description

This exceptional investment opportunity presents a 3,150 square foot, single-tenant net-leased retail property located at 1950 W Redondo Beach Blvd, Gardena, CA 90247. The property is 100% occupied by Hertz Corporation under a 10-year lease (commencing June 18, 2019, expiring May 18, 2029), with approximately 4.5 years remaining. The lease includes annual rent bumps, providing consistent income growth. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $159,979, with an asking price of $3,200,000 ($1,015 per square foot). Built in 1961 and renovated in 2019, this strategically located retail space sits on a 17,700 square foot lot zoned for general commercial use. Its prime location at a signalized intersection of Redondo Beach Blvd and Gramercy Pl offers high visibility and accessibility, benefiting from significant daily traffic and proximity to residential and commercial areas. The surrounding area features a dense population with high average household incomes and numerous established retailers, ensuring consistent customer traffic. This property is an ideal investment for those seeking a stable, high-return asset with minimal management responsibilities. The corporate guarantee from Hertz, a globally recognized brand, further mitigates risk. The property's size also makes it suitable for 1031 exchange purposes. APN: 4066-006-001.