20 Centerpointe Dr La Palma, CA 90623
- Industrial properties
- 56,280 SF
- 3.48 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 20 Centerpointe Dr
- Year built
- 1987
- Lot size
- 3.48 lot acres
- Property size
- 56,280 SF
- Property type
- Industrial properties
- APN
- 276-081-52
- APU
- 27608152
Description
This exceptional investment opportunity presents a 56,175-square-foot, single-story, Class B office building located at 20 Centerpointe Drive in La Palma, California. The property, built in 1988, sits on a 3.57-acre lot and boasts a 100% occupancy rate with four tenants under multi-tenant leases. The asking price is $17,199,000, representing a compelling $306.17 per square foot and a 7.00% cap rate. This stabilized investment offers significant long-term stability, with only one tenant lease expiring before 2029, ensuring consistent cash flow with annual rent increases. The property benefits from a desirable location in a mid-counties campus setting, featuring lush landscaping, recently upgraded common areas, and an association lounge. Convenient surface parking, excellent freeway access via SR-91, and proximity to I-5 and I-605 freeways, Long Beach International Airport, and Metrolink stations enhance its appeal. The low-rise design aligns with favorable market trends showing robust growth and vacancy compression, exceeding that of high-rise properties. The La Palma/Buena Park submarket exhibits a low 6.9% vacancy rate (YTD4Q23), further underscoring the investment's strength. This asset provides a secure and attractive income stream in a prime Southern California location, offering an affordable alternative to other high-cost areas.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- La Palma
- County
- Orange
- State
- California
- Longitude
- -118.032
- Latitude
- 33.8622
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
