Former Bank w/ Double Drive-Thru - 1 Acre Lot 10010 Paramount Blvd 5,950 SF Retail Building Downey, CA 90240 $4,399,999 ($739.50/SF)
INVESTMENT HIGHLIGHTS
- Prime Location: Paramount & Florence in Downey, CA, 70K+ daily cars, high visibility, easy access, ideal for retail, restaurant, or medical use
- Ample Parking & Land: 44 spaces on a full acre, ensuring convenience for customers, employees, and future development opportunities
- Owner-User Perks: SBA loans with 10-15% down, plus tax advantages from depreciation and cost segregation for financial benefits
- Former Bank & Drive-Thru: 5,950 SF ex-Bank of America with a rare double drive-thru, perfect for fast food, pharmacy, or high-traffic businesses
- Development Potential: Ideal for repositioning or redevelopment, leveraging an efficient site plan in a built-out, high-demand area
- Strong Demographics: 682K+ population in 5 miles, $208K+ average income, supporting high-end retail, services, and strong market demand
EXECUTIVE SUMMARY
The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present a versatile infill retail opportunity with owner-user or re-development potential in Downey, CA.
Formerly a Bank of America, the 5,950 SF vacant stand-alone building is located near the heavily trafficked intersection of Paramount Blvd and Florence Ave, with over 70,000+ vehicles passing daily. The property features a two-lane drive-through and ample parking with 44 marked spaces on 1 acre of land.
Zoning allows for a myriad of retail, restaurant and medical uses. Developers can reposition the building or develop to take advantage of an existing double drive-thru site plan with ample parking. Owner-user investors can take advantage of attractive SBA financing (10-15% down) with major tax benefits like depreciation and cost segregation studies. For more details, contact the listing agents.
With over 682,542 people in a 5-mile radius and an average household income of $208,489, this infill location provides strong demographics for all potential uses.
Formerly a Bank of America, the 5,950 SF vacant stand-alone building is located near the heavily trafficked intersection of Paramount Blvd and Florence Ave, with over 70,000+ vehicles passing daily. The property features a two-lane drive-through and ample parking with 44 marked spaces on 1 acre of land.
Zoning allows for a myriad of retail, restaurant and medical uses. Developers can reposition the building or develop to take advantage of an existing double drive-thru site plan with ample parking. Owner-user investors can take advantage of attractive SBA financing (10-15% down) with major tax benefits like depreciation and cost segregation studies. For more details, contact the listing agents.
With over 682,542 people in a 5-mile radius and an average household income of $208,489, this infill location provides strong demographics for all potential uses.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,950 SF
Building Class
C
Year Built
1969
Price
$4,399,999
Price Per SF
$739.50
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.68 AC
Zoning
C-2 - Commercial Zone
Parking
44 Spaces (7.39 Spaces per 1,000 SF Leased)
Frontage
103’ on Paramount Boulevard
AMENITIES
- Banking
- Signage
- Drive Thru
- Wheelchair Accessible
Walk Score®
Very Walkable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $408,000 | |
| Land Assessment | $2,346,000 | Total Assessment | $2,754,000 |
