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Key Details
Sold Price $5,500,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 23,329 sqft
Price per Sqft $235
MLS Listing ID 22208912
Sold Date 03/30/23
HOA Y/N No
Year Built 1963
Lot Size 1.464 Acres
Property Description
14141-14125 Crenshaw Blvd. is an open-air neighborhood Retail strip center located on a bustling corner in Hawthorne. This multi-tenant property is comprised of 3 separate buildings - totaling 19 units, 23,329 building sqft, and 63,792 lot sqft. Two APN's included are - 4052-018-011 & 4052-018-010. The property is situated on the signalized intersection of Crenshaw Blvd. and Rosecrans Ave., offering high visibility. Rosecrans and Crenshaw are heavily traveled streets, with traffic coming from nearby Gardena, Torrance, and the 405 Freeway. Therefore, this corner site is highly favorable due to its enhanced visibility and access. Additionally, the subject property benefits from Pizza Hut & Metro by T-Mobile, two nationally recognized companies, and its high-traffic location on Crenshaw Blvd. and Rosecrans Ave. with visible street signage. Ample parking provides easy access to this retail center, benefiting the tenants' businesses. A location score of 90 and a walking Score of 81 make this a prominent and widely used retail center. This is an excellent opportunity for Investors to acquire a property to reposition with a new tenant base or a build-to-suit store for an anchor tenant and increase market rents on a NNN basis, as well as the potential for a Partial Owner/User to run their business. Seven units are purposely vacant for a new owner to create their own vision and implement a plan to obtain tenants they want on NNN leases.Hawthorne is rapidly becoming the area of choice for prominent companies such as Tesla, Space X, Triumph Aerostructures, 9 to 5 Seating, and a new Ring headquarters is being built adjacent to Space X.
Location
State CA
County Los Angeles
Area 110 - East Hawthorne
Zoning HACM*
Interior
Fireplace No
Exterior
Total Parking Spaces 66
Building
Lot Description Corner Lot, Lot Over 40000 Sqft
Story 1
Others
Tax ID 4052018011
Special Listing Condition Standard
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Bought with Morgan McMullin • Keller Williams Beverly Hills