449 Imperial Hwy Los Angeles, CA 90061

Property Details for 449 Imperial Hwy

Year built

2003

Property size

1,008 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 1,008 sq ft Chevron gas station and convenience store in Los Angeles, CA. Located at the high-traffic intersection of Imperial Highway and Figueroa Street, this single-story, Class B property boasts 4 gas pumps and sits on an 11,127 sq ft lot. Built in 2003, the property enjoys 100% occupancy and a strong net operating income (NOI) of $755,000, translating to a 10.79% cap rate. The asking price is $6,995,000 ($6,939.48/sq ft). Benefiting from its prime freeway location between CA 110 and CA 105 Freeways, the property experiences exceptional visibility and high traffic counts exceeding 64,000 cars per day. The sale includes both the operational business and the underlying real estate, presenting a compelling owner-user opportunity. The property is zoned for commercial use and is suitable for a 1031 exchange. This is a single-tenancy property with a lease expiration date of December 1st, 2024. The property's location is further enhanced by Los Angeles' hosting of major events like the 2028 Summer Olympics, 2026 FIFA World Cup, and 2027 Super Bowl, promising continued growth and high demand. The property's APN is 6075-027-031.