24234 24248 Crenshaw BLVD Lomita, CA 90505

The subject property is a commercial property located at 24234 – 24248 Crenshaw Boulevard in the City of Lomita on a 17,443 square foot lot with M-C zoning (Light Manufacturing & Commercial). This zoning allows a broad range of light industrial, commercial and retail uses. The parcel is situated at the traffic signal directly across from the entrance to Torrance Crossroads Shopping Center which boasts many national tenants such as Home Depot, Home Goods, IHOP, In-N-Out Burger, Vons Groceries, PetCo, Party City, Subway, Jersey Mike’s, La Salsa, Jamba Juice, Starbucks and many more restaurants. The traffic count is huge with 107,463 VPD (Vehicles Per Day).

The improvements consist of 10,911 square feet (per assessor’s records) between 2 buildings. The 2 story main building 24248 Crenshaw was built in 1955 (approximately 8,563 rentable square feet and it is currently rented to small retail/office/commercial tenants on a month to month basis. There are a total of 41 suites surrounding a courtyard with planters. There are restrooms on the 1st and 2nd floor. Out of the total, 11 suites rented, and the remaining 30 suites are vacant, and many would need to be made rent ready by a buyer prior to leasing. There is a detailed rent roll in the Offering Memorandum showing each suite and the approximate size. There are 22 parking spaces onsite and there is additional parking across the street with a dedicated crosswalk.

There is a second free standing single story building constructed in 1962 that is 1225 square feet. It was used by a restaurant many years ago and is currently being used for office flex-warehouse space. This investment offering provides an excellent opportunity for an investor seeking an asset for repositioning and leasing up the vacant units at market rents. There is also the potential for a new development opportunity on this site since the tenants are all month to month.