Normandie Center

‍Asking Price: $12,462,000

Net Operating Income: $690,354

Cap Rate: 5.54% (In-Place)

Cap Rate: 6.47% (Year 5)

100% Leased NNN Daily Needs Shopping Center in Los Angeles (Gardena), CA

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100% LEASED / TOP RANKED SHOPPING CENTER (Placer.ai)

- This property is 100% leased and draws customers from all over Los Angeles

- The Starbucks at this location is ranked in the top 6% of all Starbucks nationwide (per Placer.ai), bringing nearly 400,000 customers to this location per year

- The Fitness 19 at this location is ranked in the top 20% of all Fitness/Gyms nationwide (per Placer.ai)

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LONG TERM VALUE-ADD WITH STRONG SCHEDULED INCREASES

- All of the tenants have strong scheduled annual rental increases & most have FMV options with below market rents, allowing for stable and consistent growth

- Current rents are appr. 20% below market rates

- 3.36%+ Compounded Annual Growth Rate (CAGR)

- Appr. 100 bps cap rate growth through the next 5 years

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HIGH TRAFFIC | SIGNALIZED INTERSECTION LOCATION

- Ideally located at the signalized intersection of Rosecrans Ave. and Normandie Ave. (approx. 60,000 vehicles per day)

- Located less than ¾ mile west of the highly trafficked Interstate 110 (approx. 250,000 vehicles per day)

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INFILL LOS ANGELES SITE WITH MIXED-USE ZONING AT A 65‘ HEIGHT LIMIT

- The property is located in a mixed-use overlay zone that allows for a mixed-use or residential project

- Long term redevelopment option allow for strong underlying land value‍

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STRONG DEMOGRAPHICS /  DENSELY POPULATED LOS ANGELES LOCATION

- The County of Los Angeles, is the most populous county in the United States and in the U.S. state of California, with more than ten million inhabitants as of 2018

- There are over 800,000 people that live within a 5-mile radius of the property

- This strategic location provides top tier customer draw, strong tenant synergy, and an ideal crossover shopping environment

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WELL MAINTAINED PROPERTY

- New roof replacement was done approx. 2 years ago

- HVAC well maintained in good condition

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LARGE MONUMENT SIGNS | GREAT VISIBILITY

- The property features a large monument sign benefiting the entire center located directly along Rosecrans Ave.

- There is also a monument sign for Pizza Hut located along Normandie Ave.

- The center benefits from excellent visibility along both Normandie and Rosecrans Ave.

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BUSY SHOPPING CENTER | STRONG SHADOW ANCHOR TENANTS

- The property is shadow anchored by Dollar Tree, Planet Fitness, and Starbucks (NAP)

- These national/credit tenants are a testament to the strength of this location and the underlying real estate

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