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    24 Centerpointe Dr La Palma, CA 90623

    Sponsored
    For Sale
    $6,242,000

    Single-tenant, NNN lease, strong ROI.

    Property size:
    22,682 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 22,682 square foot manufacturing facility, located at 24 Centerpointe Drive in La Palma, California (Orange County, zip code 90623), presents a compelling investment opportunity. The property boasts a single-tenant, triple-net (NNN) lease with a remaining term of approximately 4.4 years, extending to March 30, 2029. Built in 1988, this one-story building sits on a 1.46-acre lot and offers 73 parking spaces. The asking price is $6,242,000, representing a price per square foot of $275.20 and a 5.25% cap rate. The property features a low-rise office building within a unique campus setting, complete with lush landscaping and recent multi-million-dollar common-area upgrades. Excellent ingress and egress are provided by direct freeway access, and abundant on-campus and surrounding amenities are readily available. The long-term lease ensures ease of ownership and durable passive income, while the current rent, 34% below market, offers significant upside potential. The property's assessed value is significantly below estimated replacement cost. The APN is 276-081-54.

    Property Features for 24 Centerpointe Dr

    General Information

    Property type
    Manufacturing properties
    Square Feet
    22,682 SF
    Lot Size
    63,598 SF

    Building Details

    Year Built
    1988
    Stories
    1

    HighLights

    • Long‑term, single‑tenant net lease investment opportunity.
    • Low‑rise office building in a landscaped campus setting with recent common area upgrades and convenient freeway access.
    • NNN lease provides stable, passive income with significant upside potential due to below‑market rents (currently 34% below market).
    • Offered significantly below replacement cost of $423/SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Palma
    County
    Orange
    State
    California
    Longitude
    -118.0327889
    Latitude
    33.8611542

    Nearby Comparable

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    Nearby Similar for Sale

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      La Palma Industrial/Office Property

      78,980 SF industrial/office building with 2-story office space.
      14 Centerpointe Dr, La Palma, CA 90623
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      La Palma Office Building: $17.2M

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      La Palma Office Building: Owner-User Opportunity

      Prime Orange County Office, Vacant, 54,129 SF
      18 Centerpointe Dr, La Palma, CA 90623
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    • $7,108,000
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      La Palma Office Building Investment

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    FAQs

    What type of property is this?
    Manufacturing property - Single-tenant, NNN lease, strong ROI.
    Where is this manufacturing property located?
    The property is located at 24 Centerpointe Dr La Palma, CA.
    What is the asking price?
    The asking price for this property is $6,242,000.
    What are key features of this property?
    This property features: Long-term, single-tenant net lease investment opportunity.; Low-rise office building in a landscaped campus setting with recent common area upgrades and convenient freeway access.; NNN lease provides stable, passive income with significant upside potential due to below-market rents (currently 34% below market).
    Request Owner's contact information
    24 Centerpointe Dr La Palma, CA 90623
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    La Palma, CA 90623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    24 Centerpointe Dr La Palma, CA 90623
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