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    Property profile & analytics

    18600 Gridley Rd Artesia, CA 90701

    • Retail space
    • 17,216 SF
    • 1.36 lot acres
    For Sale
    View listing
    $10,705,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8581711
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Raising Cane's Chicken Fingers / Fast Food Restaurant / American Restaurant

    Property Details for 18600 Gridley Rd

    Year built
    1975
    Construction
    TILT-UP CONCRETE
    Lot size
    1.36 lot acres
    Property size
    17,216 SF
    Zone code
    ATCG*
    Property type
    Retail space
    APN
    7039-008-037
    APU
    7039008037

    Description

    This exceptional investment opportunity presents a brand-new, 3,207 square foot Raising Cane's restaurant in Artesia, California. Located directly across from the 1.4 million square foot Los Cerritos Mall, this property benefits from a high-traffic, affluent area with average household incomes exceeding $117,000 within a 3-mile radius. The property features a 15-year NNN lease (commencing May 16, 2023, and expiring May 16, 2038), offering a remaining lease term of 13.5 years and a 4.25% cap rate. The strong financial performance of Raising Cane's, a top operator in the quick-service restaurant sector, ensures long-term stability and reliable cash flow for the investor. With a 100% occupancy rate and a Net Operating Income (NOI) of $455,000, this single-tenant property offers a passive investment opportunity with no landlord responsibilities. The property sits on a 1.36-acre lot (APN: 70390080370) and is zoned ATCG. Built in 2024, this is a truly turnkey investment in a prime Los Angeles County location, offering significant upside potential. The asking price is $10,705,000, translating to a price per square foot of $3,338.01. This represents a rare opportunity to acquire a best-in-class, single-tenant property in a highly desirable, infill location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,350,000
      6.5%
      $5,860,000
      7%
      $5,440,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,359,000
      Market price range: $1.16M - $5.45M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,870,000
      Current use
      AUTO REPAIR, GARAGE
      $7,965,000
      Change: +1% Conversion: Difficult
      MEDICAL BUILDING
      $7,825,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $7,720,000
      Change: -2% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Artesia
    County
    Los Angeles
    State
    California
    Longitude
    -118.09
    Latitude
    33.8627
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $81,996
    $5,222,634
    $1,508,759
    $6,731,393
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,170,000
      4,240 SF

      18530 Pioneer Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,240 SF
      18530 Pioneer Blvd, Artesia, CA 90701-5537
      View Details
    • Value Estimation
      $9,705,000
      46,886 SF

      11624 Ss St

      RETAIL STORES (PERSONAL SERVICES) • 46,886 SF
      11624 Ss St, Artesia, CA 90701-6602
      View Details
    • Value Estimation by Request
      968 SF

      18860 Norwalk Blvd

      RETAIL STORES (PERSONAL SERVICES) • 968 SF
      18860 Norwalk Blvd, Artesia, CA 90701-5974
      View Details
    • Value Estimation
      $3,350,000
      2,394 SF

      11828 Artesia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,394 SF
      11828 Artesia Blvd, Artesia, CA 90701-4003
      View Details
    • Value Estimation
      $2,880,000
      13,050 SF

      11641 Ss St

      RETAIL STORES (PERSONAL SERVICES) • 13,050 SF
      11641 Ss St, Artesia, CA 90701-6628
      View Details
    • Value Estimation
      $560,000
      1,725 SF

      17429 Pioneer Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,725 SF
      17429 Pioneer Blvd, Artesia, CA 90701-4045
      View Details

    Similar Nearby for Sale

    • $10,705,000
      3,207 SF

      Artesia Raising Cane's Investment

      Prime QSR location, strong NOI, long lease.
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      View Details
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    Similar Nearby for Lease

    • $1,590,000
      2,000 SF

      Retail Space Available For Rent

      Retail space available for rent in Artesia, California.
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      View Details
    • Contact for pricing
      2,353 SF

      Retail Space on Pioneer Blvd

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    • Contact for pricing

      Restaurant/Event Center Ready For Lease

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    • $5,200,000
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      Freeway Accessible Industrial Warehouse Space

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    Artesia, CA 90701
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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