Mixed-Use Development Opportunity 24123 Narbonne Ave

24123 Narbonne Ave , Lomita, California, 90717 | 1,540 sq.f | $ 1,300,000

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About This Restaurant

Investment Highlights

Exceptional visibility Over $100K in tenant improvements Close proximity to the 405 and 110 freeway 8 dedicated parking spaces Long term stabilized tenant Development Opportunities

Executive Summary

Introducing an unparalleled opportunity in the heart of Lomita. Welcome to 24123 Narbonne Avenue, a captivating and meticulously crafted property poised on a sprawling 6,382-square-foot lot, featuring a meticulously designed building spanning 1,540 square feet. Nestled on the coveted West side of Narbonne Avenue, this property commands attention with its exceptional visibility and prime frontage along a bustling, pedestrian-friendly thoroughfare. Boasting a versatile layout, the building is currently outfitted with a full-service bar and two well-appointed bathrooms and sustains a 10-year old roof. Step outside onto the inviting front patio, complete with bar seating, offering the perfect setting for al fresco gatherings. Enhancing the ambiance, a sizable window effortlessly transforms into an open-air experience, seamlessly blending indoor comfort with outdoor allure. A rear door leads to a private back space, ideal for hosting exclusive events, while providing access to ample parking accommodations. With eight dedicated parking spaces, including one handicap-accessible spot, and ample room for potential expansion, this property ensures flexibility for future growth and adaptation to evolving needs. Don't miss this rare opportunity to secure a prime commercial space in one of Lomita's most sought-after locations. Discover the endless possibilities that await at 24123 Narbonne Avenue. Currently holding a long term stabilized tenant.

Property Details

  • Sale Type    Investment
  • Property Type    Retail
  • Property Subtype    Bar
  • Building Size    1,540
  • Building Class    C
  • Year Built    1961
  • Price    1,300,000
  • Price Per SF    844
  • Cap Rate    4.85
  • NOI    63,000
  • Tenancy    Single
  • Building Height    1 Story
  • Building FAR    0.24
  • Land Acres    0.15 AC

Nearby Amenities & Transportation

Retail IHOP
Retail Gyu-Kaku Japanese BBQ
Retail ALDI
Retail Panda Express
Retail Corepower Yoga
Retail Kinecta Federal Credit Union
Retail Burgerim
Retail BBQ Chicken
Retail Hof's Hut
Retail Vons

Property Taxes

Parcel Number 7374-012-032 Improvements Assessment $310,167
Land Assessment $498,125 Total Assessment $6,000 (3.90/SF)
Date Created: 2024-07-16 04:09:22 Last Updated: 2024-07-16 04:09:22
Address: 24123 Narbonne Ave , Lomita, California, 90717