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302 W 5th St 33,420 SF 100% Leased Office Building San Pedro, CA 90731 $8,995,000 ($269.15/SF) 5.24% Cap Rate
Investment Highlights
- Fully Leased 27 Tenant Office Bldg on .94 AC Lot ($252/GSF I $269/RSF)
- A+ Location in Heart of CBD, Historic Arts, Little Italy, The Waterfront; Port HQ
- Historically 97-100% Leased (w/ over 97% Tenant Retention)
- Strong Upside Potential - Below Market Rents - 1% Vacancy Mrkt
- Immediate Access to Transportation Corridors & 110 FWY
- Over 1.1 Billion Invested in the Area - Opportunity Zone
Executive Summary
First time available in 27 years, this meticulously maintained and Best in Class property comes to market. Due to influx of apartment development in the downtown, and planned residential conversion of only Class A highrise, finding quality professional office space is challenging for tenants. Below market rents provide strong upside over next 2yrs, with achievable market rent ranging $2.25-2.35. 2026/Yr 1 estimated 471K NOI includes standard vacancy and a mgt fee, even though asset is fully leased (and currently self-mananged), therefore there is expectation of higher NOI.
Major longterm tenants include: Berg & Assoc., County of LA/ Supervisor Hahn, Ephiphany, Crowley, Pierry McAdams and numerous other law /professional firms; Think Cafe.
Major longterm tenants include: Berg & Assoc., County of LA/ Supervisor Hahn, Ephiphany, Crowley, Pierry McAdams and numerous other law /professional firms; Think Cafe.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
33,420 SF
Building Class
B
Year Built/Renovated
1978/1999
Price
$8,995,000
Price Per SF
$269.15
Cap Rate
5.24%
NOI
$471,102
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
11,140 SF
Slab To Slab
11’
Building FAR
0.82
Lot Size
0.94 AC
Opportunity Zone
Yes
Zoning
C2 - Commercial C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Use
Parking
80 Spaces (2.39 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
- Restaurant
- Signage
- Car Charging Station
- Air Conditioning
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (78)
Property Taxes
| Parcel Number | 7455-014-033 | Improvements Assessment | $3,096,258 |
| Land Assessment | $940,625 | Total Assessment | $4,036,883 |
Property Taxes
Parcel Number
7455-014-033
Land Assessment
$940,625
Improvements Assessment
$3,096,258
Total Assessment
$4,036,883
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302 W 5th St
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