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23600 Telo Ave 39,937 SF 94% Leased Office Building Torrance, CA 90505 $21,000,000 ($525.83/SF) 5.94% Cap Rate
Investment Highlights
- 11 High Quality Physician Tenants with specialty practices occupying large suites (100% occupied)
- Close proximity to Torrance Memorial Medical Center
- Tight Torrance medical office leasing market with approximately 10% vacancy
- Leases allow for additional income administering operating expense pass throughs
Executive Summary
Telo Medical Center consists of an approximately 39,937SF, 2-story, medical building located on a single parcel of land, totaling approximately 2.37 acres. Telo Medical Center is currently leased to a variety of medical specialty tenants occupying 12 suites, including ophthalmology, internal medicine, family practice, orthopedic, urology, oncology, obstetrics/gynecology, allergy and pharmacy, and produces an annual NOI of $1,247,257.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
39,937 SF
Building Class
B
Year Built/Renovated
1984/2006
Price
$21,000,000
Price Per SF
$525.83
Cap Rate
5.94%
NOI
$1,247,257
Percent Leased
94%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
19,969 SF
Building FAR
0.39
Lot Size
2.37 AC
Zoning
M2, Torrance
Parking
200 Spaces (5.01 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Property Taxes
| Parcel Number | 7377-011-023 | Improvements Assessment | $4,293,264 |
| Land Assessment | $3,502,605 | Total Assessment | $7,795,869 |
Property Taxes
Parcel Number
7377-011-023
Land Assessment
$3,502,605
Improvements Assessment
$4,293,264
Total Assessment
$7,795,869
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23600 Telo Ave
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