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1528 W Washington Blvd 625 SF Industrial Building Montebello, CA 90640 $2,990,000 ($4,784/SF) 4.45% Cap Rate
INVESTMENT HIGHLIGHTS
- Enterprise Rent-A-Car: Single Tenant Net Leased Corporate Investment
- Tenant Just Executed Their First 5-Year Option
- Future Rental Upside-Low Rental Rate, Only $0.38/SF Land
- 4.45% Capitalization Rate; Only $79/SF Land Cost
- Very Strong Real Estate Fundamentals; Industrial Zoning & Area
EXECUTIVE SUMMARY
Marcus & Millichap Real Estate Investment Services is pleased to exclusively market for-sale the fee-simple interest of Enterprise Truck Rental Services located at 1528 Washington Boulevard, Montebello, California. Centrally located within Los Angeles County the subject property is situated within an industrial area with close proximities to several freeways. The demand for truck rentals only continues to grow as the industrial sector continues to expand within LA County.
Enterprise Truck Rental is effectively a ground lease and comprises of a rectangular-shaped, industrial zoned (M1, Light Industrial, Light Manufacturing) site of 37,834 square feet (0.87 acres). The improvements consist of a 625 SF, 1-story office building and a 1,665 SF canopy structure built in 2011 and 2015 respectively. There is one 50 foot-wide curb cut and one 30 foot-wide curb cut off Washington Blvd. The site is used as a truck rental facility.
The subject property’s current rental rate of $0.38 PSF (NNN) is based on the entire property and would be considered low in today’s market, thus, offering significant future rental upside. The property also presents itself as a prime future industrial redevelopment opportunity.
Please DO NOT disturb the tenant. For further information, please contact the listing agents.
Enterprise Truck Rental is effectively a ground lease and comprises of a rectangular-shaped, industrial zoned (M1, Light Industrial, Light Manufacturing) site of 37,834 square feet (0.87 acres). The improvements consist of a 625 SF, 1-story office building and a 1,665 SF canopy structure built in 2011 and 2015 respectively. There is one 50 foot-wide curb cut and one 30 foot-wide curb cut off Washington Blvd. The site is used as a truck rental facility.
The subject property’s current rental rate of $0.38 PSF (NNN) is based on the entire property and would be considered low in today’s market, thus, offering significant future rental upside. The property also presents itself as a prime future industrial redevelopment opportunity.
Please DO NOT disturb the tenant. For further information, please contact the listing agents.
PROPERTY FACTS
| Price | $2,990,000 | Lot Size | 0.87 AC |
| Price Per SF | $4,784 | Rentable Building Area | 625 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 4.45% | Year Built | 1955 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 19.2/1,000 SF |
| Building Class | C | Clear Ceiling Height | 20’ |
| Zoning | M1 - Light Manufacturing | ||
| Price | $2,990,000 |
| Price Per SF | $4,784 |
| Sale Type | Investment NNN |
| Cap Rate | 4.45% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.87 AC |
| Rentable Building Area | 625 SF |
| No. Stories | 1 |
| Year Built | 1955 |
| Tenancy | Single |
| Parking Ratio | 19.2/1,000 SF |
| Clear Ceiling Height | 20’ |
| Zoning | M1 - Light Manufacturing |
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PROPERTY TAXES
| Parcel Number | 6353-014-008 | Improvements Assessment | $101,308 |
| Land Assessment | $186,308 | Total Assessment | $287,616 |
PROPERTY TAXES
Parcel Number
6353-014-008
Land Assessment
$186,308
Improvements Assessment
$101,308
Total Assessment
$287,616
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1528 W Washington Blvd
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