23401 Western Ave Torrance, CA 90501-5642

Property Details for 23401 Western Ave

Year built

1951

Construction

WOOD

Lot size

0.45 lot acres

Property size

10,980 SF

Zone code

TOCC-GEN

Property type

Retail space

APN

7360-012-051

APU

7360012051

Description

This exceptional 1,600-square-foot retail storefront is ideally situated on Western Avenue in Torrance, California, a major thoroughfare boasting an impressive daily traffic count of approximately 32,159 vehicles. The property, a single-tenant space within a one-story building in Los Angeles County (zip code 90501), benefits from excellent visibility and convenient on-site parking. Recently renovated, the space features a clean, open layout, new HVAC, updated storefront glass, a new electrical panel, and an ADA-compliant bathroom. This turnkey opportunity is ready for immediate occupancy. The surrounding area demonstrates strong market performance, with 79,000 square feet of net absorption in the past year and average annual rental rate gains of 2.2% over the last three years. While recent transaction volume ($91.7 million in the past 12 months) is below historical levels, the submarket shows positive momentum with 410,000 square feet of retail space currently under construction. Despite a delay in a large-scale project (Los Angeles Premium Outlets), the market is projected for continued growth. Current market retail asset pricing averages $400 per square foot, approximately 10% below Greater Los Angeles averages. This presents a compelling opportunity for businesses seeking a well-located, updated retail space in a thriving market.

Location Insight

City

Torrance

County

Los Angeles

State

California

Longitude

-118.309

Latitude

33.8131

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments