BRANDON MICHAELS GROUP SOUTHERN CALIFORNIA'S PREMIER SALES TEAM
A FULLY RENOVATED MEDICAL OWNER-USER OPPORTUNITY IN A DENSE LOS ANGELES SUBMARKET INVESTMENT ADVISORS
BRANDON MICHAELS BEN BROWNSTEIN Senior Managing Director of Investments Senior Associate Senior Director, National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2812 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #02012808 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com SAM LIBEROW MAX GERSHT First Vice President Investments Investment Associate Director, National Multi Housing Group National Multi Housing Group Tel: (818) 212-2795 Tel: (818) 212-2664 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01933858 License: CA #02057610
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NON ENDORSEMENT NOTICE Marcus & Millichap is not a iliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply a iliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its a iliates or subsidiaries, or any agent, prod- uct, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
SPECIAL COVID NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable PROPERTY OVERVIEW COMPARABLES ANALYSIS AREA OVERVIEW Property Overview01
A FULLY RENOVATED MEDICAL OWNER USER OPPORTUNITY IN A DENSE LOS ANGELES SUBMARKET
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 3314 Firestone Blvd, a 1,824 square foot, Owner-User Medical building located just west of Long Beach Blvd and just east of Atlantic Blvd in the center of the gentrifying neighborhood of South Gate, CA. The surrounding demographic has a median household income of $49,117. As one of the densest neighborhoods in LA County, South Gate has a population of over 94,000 residences. Ideally located along Firestone Blvd, the property benefits from high daily tra ic counts of over 20,000 vehicles. The subject property o ers excellent frontage and visibility, benefiting from 65 feet of frontage along Firestone.
3314 Firestone Blvd o ers the unique opportunity to acquire a well-located medical property with flexibility in usages. The 1,824 square foot site, was formerly utilized as an urgent care and is situated with enough parking (16 spaces) to allow any medical user to occupy. Located directly across the street from South Gate Highschool and one block from South Gate Elementary School #4, this property is an ideal location for any medical related facility. There are over 111,000 people within a 2-mile radius of the property and over 440,000 within a 5-mile radius. The subject property boasts a walk score of 70 making this a very walkable and bikeable location with direct access to transit. As development picks up in the neighborhood, the Metro Light Rail is in the planning process of its West Santa Ana Branch located one mile east on Firestone, which will transform the community into a Transit Oriented District with long term upside. 3314 Firestone Blvd is situated on ~8,961 square feet of land zoned SGCM-R3.
6 DOWNTOWN LA SOUTH LOS ANGELES
ARDMORE AVE
ODYSSEY CONTINUATION HIGH SCHOOL MALONEY MEAT CO SOUTH GATE HIGH SCHOOL
STATE ST
FIRESTONE BLVD INVESTMENT HIGHLIGHTS
VINVALE IDEAL OWNER USER MEDICAL OPPORTUNITY
• 1,824 square feet of ground floor medical space • 16 parking spaces allow for a multitude of medical uses – 8.8:1 Parking Ratio • Approximately $72,792,000 spent on Medical Services in 2019 in South Gate • Projected $82,052,000 will be spent on medical services in 2025 SOUTH GATE HIGH SCHOOL EXCELLENT SOUTH GATE LOCATION
• 94,000 citizens live in South Gate • Firestone Blvd is the main thoroughfare in the community • 20,000 Daily Tra ic Counts • Directly across the street from South Gate High School
DENSE LOS ANGELES COUNTY SUB MARKET
• Over 440,000 people within a five-mile radius • Within close proximity to downtown Los Angeles, all
major freeways, and Los Angeles International Airport FIRESTONE BLVD • Significant growth projections and new developments in the immediate and surrounding areas
8 ELIZABETH AVE
VICTORIA AVE
DEARBORN AVE 9 Well-located Medical Office with Flexibility in Usages FIRESTONE BLVD
10 PROPERTY HIGHLIGHTS A 1,824 SF OWNER-USER MEDICAL OFFICE IDEALLY LOCATED ON SOUTH GATE, CA
ADDRESS 3314 Firestone Boulevard South Gate, CA 90280
PRICE $850,000
BUILDING SF 1,824 SF
PRICE/SF (BUILDING) $466
LAND SF 8,961 SF
PRICE/SF LAND $95
YEAR BUILT 1925
PARKING 16 surface parking spaces
ZONING SGCM-R3
APN NUMBERS 6210-024-055, 6210-024-056
PROPERTY TYPE O ice
11 PROPERTY SITE The subject property is located near the intersection of Cole Avenue and Romaine Street. DETAILS SQUARE FOOTAGES The total building square footage is 1,824 SF. The total land square footage is A 1,824 SF OWNER- 8,961 SF. USER MEDICAL OFFICE IDEALLY YEAR BUILT The subject property was built in 1925. LOCATED ON SOUTH GATE, CA PARKING 16 parking spaces are available. The parking ratio is 8.77 per 1,000 SF.
ZONING The zoning of the subject property is SGCM-R3.
APN NUMBERS The APN numbers are 6210-024-055, 6210-024-056. Offers Excellent Frontage & Visibility with Direct Access to Transit 12 Offers Excellent Frontage & Visibility with Direct Access to Transit 13 Comparables Analysis02
SALES COMPARABLES
ADDRESS PRICE BUILDING SF LAND SF PRICE/SF BLDG SALES DATE
9720 Atlantic Ave 1 $1,600,000 4,432 13,939 $361.01 01/29/2020 South Gate, CA 90280
9918 Atlantic Ave 2 $7,400,000 11,734 18,295 $630.65 12/31/2019 South Gate, CA 90280
4816 Firestone Blvd 3 $1,750,000 3,696 18,295 $473.48 12/20/2019 South Gate, CA 90280
5831 Firestone Blvd 4 $9,100,000 24,000 78,844 $379.17 10/02/2019 South Gate, CA 90280
3310 Tweedy Blvd 5 $1,026,000 2,700 11,761 $380.00 12/20/2019 South Gate, CA 90280
AVERAGE $4,175,200 9,312 28,227 $444.86 -
16 3314 Firestone Blvd
1 9720 Atlantic Ave
2 9918 Atlantic Ave
3 4 3 4816 Firestone Blvd
5 1 4 5831 Firestone Blvd 2 5 3310 Tweedy Blvd
SALES COMPARABLES | PRICE/SF
$445 AVG PRICE/SF
9,312 AVG BUILDING SF
17 Area Overview03
SOUTH GATE . CA
There are a number of exciting things to do near South Gate. From historical sites to cultural attractions, explore the exhaustive list of all other local attractions in South Gate.
LOCATION South Gate is the 17th largest city in Los Angeles County, California.. South Gate is located 7 miles southeast of Downtown Los Angeles, and 21 miles southwest of Pasadena. It is part of the Gateway Cities region of southeastern Los Angeles County. In 1990, South Gate was one of ten U.S. communities to receive the All- America City Award from the National Civic League.
ECONOMY South Gate was the location of a General Motors automobile manufacturing facility called South Gate Assembly which was built in 1936. During the 1950s, it was GM's highest producing facility. The plant was closed in 1982 and is now the location of South East High School as of 2005.
The total number of jobs in South Gate as of 2014 was 24,218. Manufacturing, transportation and warehousing and retail trade jobs represent the majority of employment opportunities in South Gate.
DINING The sheer number of eating establishments in South Gate and the surrounding area is astounding. From Argentinean steakhouses to classic cafes, South Gate has an assortment of family-friendly dining locations to more upscale eateries.
SHOPPING In South Gate, you'll find shopping surprises around every corner.
• Azalea Regional Shopping Center • Cudahy Mall • El Paseo South Gate Shopping Center • Plaza Mexico Known For Its Outstanding City Services, Remarkable Recreation Facilities 20 POINTS OF INTERETS