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Bellflower Plaza: Value-Add Shopping Center 17610-17620 Bellflower Blvd 40,942 SF 75% Leased Retail Building Bellflower, CA 90706 $11,407,200 CAD ($278.62 CAD/SF) 5% Cap Rate
Investment Highlights
- Value-add neighborhood strip shopping center
- Attractive 10-Year Return Metrics: 8.5% NOI CAGR - 15.8% Levered IRR - 3.0x Equity Multiple - 11.3% average annual cash-on-cash
- Centrally Located Along Bellflower Blvd - Less Than 1,000 FT From the 91 Freeway
- Attractive Basis at $205/SF - Well Below Replacement Cost
- Strong Demographics - 260,000 Population with an Average Household income of $100k annually
Executive Summary
Pegasus Investments Real Estate Advisory Inc., as exclusive investment sale advisor to seller, is pleased to offer Bellflower First Plaza – a rare opportunity to acquire a value-add neighborhood strip shopping center anchored by 7-Eleven and Jack-in-the Box* located in Bellflower (Los Angeles), California at an extremely attractive basis significantly below replacement cost of $205/SF. Financial returns are attractive, boasting an NOI compounded annual growth rate (CAGR) of 8.5%, levered IRR of 15.8%, equity multiple of 3.0x and average cash-on-cash returns of 11.4% over a projected 10-year hold period.
Bellflower First Plaza features a diverse and highly seasoned mix of service, medical, lifestyle and convenience retail tenancy, addressing the needs of the densely populated Bellflower community, which features nearly 270,000 residents and average household incomes reaching $100,000 annually within a 3-mile radius of the Property. Prominently situated along Bellflower Blvd. at the signalized intersection of Ramona Street, Bellflower First Plaza has excellent local and regional access, strategically situated approximately 1,000 feet from the 91 freeway and 1.3 miles from the I-605. Leading national QSR’s within walking distance of the property include In N’ Out, Starbucks, Dunkin Donuts, and Taco Bell. (Fun Fact: there are two (2) In N’ Out restaurants on Bellflower Blvd. less than a mile from each other, with the subject property sitting between them).
Bellflower First Plaza sits within the triangle bound by Lakewood Center (Costco, Target, Home Depot anchored) to the southwest, Los Cerritos Center (1M SF regional mall anchored by Apple, Nordstrom, Harkins Theatres and Cheesecake Factory) to the east, and Cerritos College (20,000 students) to the northeast. With its dominant positioning within the highly trafficked and densely populated market, Bellflower First Plaza presents a great opportunity for astute investors to acquire an irreplaceable cash flowing property combined with an exciting value-add opportunity within the Los Angeles metropolitan area.
Bellflower First Plaza features a diverse and highly seasoned mix of service, medical, lifestyle and convenience retail tenancy, addressing the needs of the densely populated Bellflower community, which features nearly 270,000 residents and average household incomes reaching $100,000 annually within a 3-mile radius of the Property. Prominently situated along Bellflower Blvd. at the signalized intersection of Ramona Street, Bellflower First Plaza has excellent local and regional access, strategically situated approximately 1,000 feet from the 91 freeway and 1.3 miles from the I-605. Leading national QSR’s within walking distance of the property include In N’ Out, Starbucks, Dunkin Donuts, and Taco Bell. (Fun Fact: there are two (2) In N’ Out restaurants on Bellflower Blvd. less than a mile from each other, with the subject property sitting between them).
Bellflower First Plaza sits within the triangle bound by Lakewood Center (Costco, Target, Home Depot anchored) to the southwest, Los Cerritos Center (1M SF regional mall anchored by Apple, Nordstrom, Harkins Theatres and Cheesecake Factory) to the east, and Cerritos College (20,000 students) to the northeast. With its dominant positioning within the highly trafficked and densely populated market, Bellflower First Plaza presents a great opportunity for astute investors to acquire an irreplaceable cash flowing property combined with an exciting value-add opportunity within the Los Angeles metropolitan area.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
40,942 SF
Building Class
B
Year Built
1991
Price
$11,407,200 CAD
Price Per SF
$278.62 CAD
Cap Rate
5%
NOI
$570,752 CAD
Percent Leased
75%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.97
Lot Size
0.97 AC
Zoning
DFD - DFD (Design for Development - Commercial)
Parking
122 Spaces (2.98 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- A106
- 900 SF
- Retail
- In-Line
- Now
- B101 - 102
- 1,720 SF
- Retail
- In-Line
- Now
- B104
- 900 SF
- Retail
- In-Line
- Now
- B106
- 900 SF
- Retail
- In-Line
- Now
- B108
- 900 SF
- Retail
- -
- Now
- B111
- 900 SF
- Retail
- -
- Now
- A202
- 600 SF
- Office
- In-Line
- Now
- A206
- 900 SF
- Office
- In-Line
- Now
- A207
- 900 SF
- Office
- -
- Now
- A208
- 900 SF
- Office
- -
- Now
- A213 - 216
- 900 SF
- Office
- -
- Now
| Space | Size | Space Use | Position | Available |
| A106 | 900 SF | Retail | In-Line | Now |
| B101 - 102 | 1,720 SF | Retail | In-Line | Now |
| B104 | 900 SF | Retail | In-Line | Now |
| B106 | 900 SF | Retail | In-Line | Now |
| B108 | 900 SF | Retail | - | Now |
| B111 | 900 SF | Retail | - | Now |
| A202 | 600 SF | Office | In-Line | Now |
| A206 | 900 SF | Office | In-Line | Now |
| A207 | 900 SF | Office | - | Now |
| A208 | 900 SF | Office | - | Now |
| A213 - 216 | 900 SF | Office | - | Now |
A106
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
B101 - 102
| Size |
| 1,720 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
B104
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
B106
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
B108
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
B111
| Size |
| 900 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
A202
| Size |
| 600 SF |
| Space Use |
| Office |
| Position |
| In-Line |
| Available |
| Now |
A206
| Size |
| 900 SF |
| Space Use |
| Office |
| Position |
| In-Line |
| Available |
| Now |
A207
| Size |
| 900 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
A208
| Size |
| 900 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
A213 - 216
| Size |
| 900 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $7,140,482 CAD | |
| Land Assessment | $4,896,326 CAD | Total Assessment | $12,036,809 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$4,896,326 CAD
Improvements Assessment
$7,140,482 CAD
Total Assessment
$12,036,809 CAD
(310) 691-1350
x101
Contacts
-
David Chasin -
Daylin Ackerman -
Corey Allen -
Jed Siegel -
Pegasus Investments
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Bellflower Plaza: Value-Add Shopping Center | 17610-17620 Bellflower Blvd
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