3480 Florence Ave 1,771 SF Retail Building Huntington Park, CA 90255 $4,740,000 ($2,676.45/SF) 4.75% Cap Rate

Newmark is pleased to present the opportunity to acquire 3480 E Florence Avenue, Huntington Park CA 90255 (hereafter the “Property”, “Project”).
The property is a brand new single tenant NNN ground lease investment, corporate guaranteed lease to Starbucks, an approximately 1,771 SF building on approximately 18,370 SF of land. The property is located at signalized intersection at the southwest corner of E Florence Avenue and California Avenue. The building at the property is brand new construction with a drive through lane, scheduled to be completed November 2024. The property is well located in the City of Huntington Park, on the major commercial thoroughfare of Florence Avenue, just east off the main retail district of Pacific Avenue and just west of the Long Beach (710) Freeway. Across the street from the property is Salt Lake Park which is currently being refurbished with a new pool, gym and football field. At the intersection of Florence Avenue and Salt Lake Avenue, will be a station of the proposed LA Metro Southeast Gateway light rail line that will connect to Downtown Los Angeles and run all the way to Cerritos. Nearby are other national retailers such as In N Out, Harbor Freight, Home Depot, Planet Fitness, Wendy’s, KFC, and Jack In The Box. Starbucks just signed a brand new 15 year corporate guaranteed lease, which provides a high quality and stable investment for a new investor.
INVESTMENT HIGHLIGHTS
-Opportunity to depreciate the building.
-Corporate lease guaranteed by Starbucks.
-Building is new construction with drive through lane,
-Brand new long NNN Lease with 15 years and four (4) five (5) year options.
-Rent increases of 10% every 5 years providing stable growth.
-Tenant pays for all utilities, property taxes, and property insurance. Tenant responsible for maintenance/repair to premises, and common area maintenance.
-Landlord is responsible for maintenance/repair of roof, walls, foundation, and structure.
-Across the street from the proposed LA Metro Southeast Gateway light rail line that will connect to Downtown Los Angeles and run all the way
to Cerritos.
- Nearby are other national retailers such as In N Out, Harbor Freight, Home Depot, Planet Fitness, Wendy’s, KFC, and Jack In The Box.