22 Centerpointe Dr, La Palma, CA 90623-2566
- Industrial properties
- 21,176 SF
- 1.42 lot acres
Current Use by Public Records
- Industrial properties
Property Details for 22 Centerpointe Dr
- Year built
- 1987
- Lot size
- 1.42 lot acres
- Property type
- Industrial properties
- APN
- 276-081-53
- APU
- 27608153
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 2, 2025 | $6,025,000 | Radio Korea USA INC | 73 Lpcp22 Owner LLC | Grant Deed | $3M · Commonwealth Business Bank |
| Jun 2, 2025 | — | Radio Korea USA INC | — | Deed · related | $2.5M · Advantage Certified Development Corporat |
| Oct 13, 2017 | — | 73 Lpcp1 Owner LLC | — | Grant Deed · related | $79M · Bank Of America |
| Sep 11, 2017 | $3,000,000 | 73 Lpcp22 Owner LLC | Realty Associates Fund Ix LP | Grant Deed | — |
| Sep 26, 2008 | $105,350,000 | Realty Associates Fund Ix | Arden Realty | Grant Deed | — |
Description
This single-story, 21,216 square foot office building in La Palma, CA presents a compelling value-add investment opportunity. Located in Orange County's desirable Mid-Counties campus setting, the Class B property boasts a 6.56% cap rate and 81.3% occupancy across four tenants. Built in 1988, the building sits on a 1.48-acre lot and features convenient surface parking, excellent freeway access via SR-91, and proximity to I-5 and I-605 freeways, as well as Long Beach International Airport and Metrolink stations. The property benefits from a high-image campus environment with recent multimillion-dollar common-area upgrades and an association lounge. The current NNN leases provide ease of ownership and stable cash flow, with potential for increased revenue through leasing the remaining vacant space. This offering is situated in a strong market with favorable suburban low-rise trends, offering a blend of immediate income and future upside potential. The asking price is $5,366,000, translating to $252.92 per square foot. The location provides convenient access to both Los Angeles and Orange Counties, making it an attractive option for businesses and employees. The property's central location and multi-modal transportation access contribute to its strong appeal within a highly sought-after Southern California market.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,125,000
- 6.5%
- $3,805,000
- 7%
- $3,535,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,466,000
Market price range: $4.25M - $10.1M -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $6,830,000 Current use
- OFFICE BUILDING
- $9,085,000 Change: +33% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $8,575,000 Change: +26% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- La Palma
- County
- Orange
- State
- California
- Longitude
- -118.033
- Latitude
- 33.8616
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
