Property Overview
1744 W 166th St is a freestanding 13,450 SF industrial building on a 0.34-acre corner lot at S Hobart Blvd and W 166th St in Gardena. It is offered for sale at $2,890,000, or $214.87 per square foot.
The building comes with two tenants in place, a fenced and paved yard, a new roof, fire sprinklers and 600-amp, 3-phase power. Because the warehouse tenant is month-to-month, a buyer can either occupy the building or keep the income and lease up the balance.
Two Paths: Owner-User or Investor
For an owner-user, the month-to-month warehouse tenancy (5,000 SF) and the 5,940 SF currently used by ownership for storage open a path to take possession of the warehouse space. The office tenant, in place through July 2028, helps carry ownership costs in the meantime. The building already has extensive ground-floor and second-floor office improvements, five restrooms, and office heating and air conditioning.
For an investor, the property produces $12,550 per month in gross rent today from two tenants. Leasing the 5,940 SF storage area at $1.35/SF gross per month, below the $1.50/SF gross the current warehouse tenant pays, brings pro forma income to $20,569 per month. At the asking price, that supports a 6.0% pro forma cap rate on a pro forma NOI of $172,942, after 5% vacancy and estimated operating expenses.
Building and Site Specifications
Income Summary
All rents are gross. Tenant square footages, pro forma rents and expenses are estimates and subject to verification. A full financial analysis is available on request.
Location and Access
The property sits at the corner of S Hobart Blvd and W 166th St in Gardena, with frontage on both streets. The 405, 110 and 91 freeways are all nearby. Approximate drive times without traffic are 16 minutes to LAX, 26 minutes to the Port of Los Angeles and 28 minutes to the Port of Long Beach.
Frequently Asked Questions
What is the asking price for 1744 W 166th St? The asking price is $2,890,000, or $214.87 per square foot.
Can an owner-user occupy the building? Yes. The 5,000 SF warehouse tenant is month-to-month, and ownership currently uses another 5,940 SF for storage, so a buyer has a path to occupy the warehouse space. The office tenant has a lease through July 2028.
What income does the property produce today? The two tenants pay $12,550 per month in gross rent, or $150,600 per year.
What is the pro forma cap rate? The pro forma cap rate is 6.0% at the asking price, based on a pro forma NOI of $172,942. It assumes the 5,940 SF storage area is leased at $1.35/SF gross per month, with 5% vacancy and estimated operating expenses.
What are the loading and power specifications? The building has up to 20 feet of clear height, three ground-level doors and 600-amp, 240-volt, 3-phase power. There are no dock-high doors.
How do I get the offering brochure or schedule a tour? Contact Ron Mgrublian at 562-354-2537 or rmgrublian@leelalb.com. Please do not disturb the tenants.
We specialize in industrial real estate from the greater Los Angeles to the Inland Empire markets, including: Long Beach, Carson, Torrance, Gardena, Compton, Rancho Dominguez, Wilmington, Paramount, Santa Fe Springs, Huntington Beach, Garden Grove, Irwindale, Signal Hill, Pomona, City of Industry, and Ontario, serving surrounding submarkets including LA South Bay, LA Central, Mid-Counties, San Gabriel Valley, Orange County and the Inland Empire.
Ron Mgrublian Principal 562-354-2537 rmgrublian@leelalb.com CalDRE# 01902882
