8936-8942 State St
South Gate, CA 90280
Retail Property For Sale

Marcus & Millichap is pleased to present for sale 8936 State Street in South Gate, California. The offering is a dual-tenant retail opportunity anchored by a Sparklean Laundry in one of Los Angeles' denser sub-markets. The Sparklean has been located at the property since 2006 and was originally a build-to-suit site for the tenant. Sparklean initially invested over $1.5 Million into the location upgrading the building with HVAC, and utility upgrades. Sparklean currently has three and a half years remaining on a NN lease at this site with a 7.5 percent increase every 30 months, with the next increase taking place in December 2018. The tenant has already used one of its three five year options in 2016 with two remaining. The offering also includes an 600 square feet freestanding kiosk which is currently vacant allowing for additional income for a prospective investor. The property is a "Daily Needs" site serving the immediate demographics well. Sparklean is a preeminent player in the Southern California coin laundry business with five locations in Southern California all backed by a corporate entity, Tri Laundry Systems with over 40 years of experience. The opportunity presents itself as a sound, high-yield, low price point, NN retail investment suitable for either the 1031 Exchange Buyer or investor active in today’s market.