Property details
Propery Type:
Industrial
Address:
5811 S Broadway Los Angeles, CA 90003
Offering Price:
$3,075,000
Units:
Cap Rate:
6.11%
Listed By
Jonathan Weir
Senior Managing Director Investments
(424) 405-3900
Stefan Ignjatovic
Director Investments
(424) 405-3834
Contact Us
Investment Highlights

Marcus & Millichap is pleased to present 5811 S Broadway, together with the dedicated gated parking parcel at 5729 S Broadway, a 23,600-square-foot, poured-in-place reinforced concrete industrial building prominently situated at the signalized corner of Slauson Avenue and South Broadway. Built in 1927 and demised into twelve suites, the Property combines exceptional visibility and signage exposure along a major commercial corridor with functional industrial features, including a freight elevator serving the second floor and a dedicated gated parking lot directly across W 58th Street. The offering is one of three contiguous industrial assets along W 58th Street and Slauson Avenue, and part of a four-property industrial portfolio from the same ownership, that may be acquired individually or in combination, creating potential assemblage and long-term redevelopment opportunities, subject to buyer verification.Currently 70% occupied, the Property offers a rare combination of immediate occupancy and value-add upside. Four vacant suites totaling 7,118 square feet and seven month-to-month tenants occupying 12,597 square feet provide a buyer with control of approximately 19,715 square feet, or 84% of the building, within 30 days without lease buyouts or relocation costs. Only Suite 100 (3,885 square feet) remains committed through August 2028, allowing an owner/user to occupy the majority of the Property while benefiting from in-place income. Investors are presented with a mark-to-market opportunity, with existing rents averaging approximately $0.94 per square foot per month compared to market rents of approximately $1.00 to $1.25 per square foot, industrial gross.The Property features three loading doors, including two grade-level doors and one dock-high, a 6,000-pound-capacity freight elevator, 12 to 12.5-foot clear heights, and a flexible multi-tenant layout well suited for industrial, manufacturing, creative, storage, contractor, and service oriented users. Zoned C2-2D-CPIO, the Property offers greater long-term flexibility than a traditional manufacturing-zoned asset. The Property benefits from a roof replacement completed in 2020 and is equipped with fire sprinklers and separately metered electrical service. The accompanying 4,963-square-foot parking parcel provides approximately 15 gated parking spaces, resulting in a parking ratio of approximately 0.80 spaces per 1,000 usable square feet. Additionally, the Property is located within an AB 2097-eligible transit area, potentially allowing future users to accommodate more parking-intensive uses without the need to provide additional on-site parking, subject to buyer verification.Located at the signalized intersection of Slauson Avenue and South Broadway, which carries traffic counts exceeding 51,480 vehicles per day, the Property benefits from exceptional visibility and exposure. One block from the Harbor Freeway (I-110) with convenient access to Downtown Los Angeles, Vernon, and the Ports of Los Angeles and Long Beach, the offering is strategically positioned within one of Southern California's most densely populated and supply-constrained industrial corridors. Combined with its below-replacement-cost basis, immediate occupancy potential, and clearly defined lease-up strategy, the Property presents a compelling opportunity for both owner/users and investors.

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Listed By
Jonathan Weir
Senior Managing Director Investments
(424) 405-3900
Contact Us

5811 S Broadway

Los Angeles, CA
90003
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