1321 Post Avenue & 1315 El Prado Avenue
Office | 5.09% CAP | 3,204 SqFt
Marketing description
OFFERING MEMORANDUM: https://www.dropbox.com/scl/fi/trxgkir3dzd2gssfzqpxe/1321-Post-Avenue-Offering-Memorandum.pdf?rlkey=g646uxmok1vviovb24u5ewsx2&st=p8q34jq2&dl=0
ASSET
Beautiful and charming three-story, four-unit retail/office building located in Old Town Torrance. The property was built in 2005 and features a total of 3,204 SF. Three of the units will be delivered vacant, which presents an outstanding owner-user opportunity. The occupied space is an 820 SF ground floor unit which is leased to NonStop Travel with the current lease running until March 2028. The vacant spaces include a 400 SF ground floor unit and two upstairs spaces consisting of a 1,090 SF unit and a 1,290 SF unit. The 1,290 SF unit has been recently renovated and includes a rooftop deck, central air and heating (HVAC) and private restroom. This investment opportunity also includes a parking lot located at 1315 El Prado Avenue which contains 10 designated parking spaces.
LOCATION
The property is on an upscale commercial street with ample retail shops, offices, restaurants, cafes and bakeries. The asset is just south of Torrance Boulevard and west of Cabrillo Avenue, in an outstanding Old Torrance location. The parking lot is located across the street which provides convenient parking for tenants. Additionally, there is ample street parking along Post Avenue.
FINANCIALS
1321 Post Avenue provides an ideal owner-user opportunity or the opportunity for an investor to lease the vacancies at market rate with triple net (NNN) lease. The asset yields a 5.09% current cap with a pro-forma cate rate of 5.23%.
*Unit #202 is currently occupied by the owner and can be delivered vacant at the close of escrow. Rents for vacancies have been estimated at pro-forma rents. Unit sizes (SF) are estimated by owner. Buyer is encouraged to independently verify the accuracy of any information through inspection(s), due diligence, and professionals. Broker and Agent do not guarantee the accuracy of any information concerning the size, condition, financials, or features of said property. Buyer to conduct their own due diligence and investigation of the property.
Investment highlights
Outstanding Owner-User Opportunity – Three Units Delivered Vacant
Three-Story, Four-Unit Office/Retail Property in Old Town Torrance
Built in 2005 – Newer Construction Building with Charm
Large 1,290 SF Vacant Unit is Upgraded and Features Rooftop Deck, HVAC & Private Restroom
Located on Upscale Commercial Street Surrounded by Retails Shops, Restaurants, Offices & Cafes
Offering Includes Parking Lot Across the Street with 10 Designated Parking Spaces
Opportunity for Investor to Lease Vacancy at Market Rate with New NNN Lease
Great Frontage on Post Avenue with Ample Street Parking
5.09% Current Cap Rate & 5.23% Pro-Forma Cap Rate
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