$8,500,000
Prime Medical-Corridor Value-Add + Future Development Site | Norwalk Rare opportunity to acquire a strategically located commercial asset offering in-place income, immediate lease-up upside, and long-term land redevelopment potential in one of the most active submarkets in the Southeast LA / Gateway Cities region. The property features 9,724 SF of vacant space with strong upside potential to lease at approximately $2.50/SF, creating meaningful NOI growth for investors or an ideal footprint for an owner-user medical operator (buyer to verify permitted use). At this rent level, the vacancy represents approximately $291,720/year in additional gross potential income once stabilized. Medical demand is a key driver here: the site sits in a medical/professional services environment adjacent to critical healthcare infrastructure, with a local community need for an Urgent Care concept (urgent care / outpatient / specialty clinic), positioning the vacancy as a compelling near-term tenanting play. Redevelopment optionality: the underlying land value supports future repositioning, including potential multi-family development (buyer to verify zoning, density, and feasibility). This creates a powerful dual strategy: cash flow + upside now, with development value later. ?? AREA GROWTH & DEVELOPMENT TAILWINDS (within ~5 miles) The surrounding area is seeing continued investment in housing, mixed-use, and transit-oriented planning, strengthening long-term demand drivers for medical services and supporting commercial tenancy: Norwalk Civic Center mixed-use (“The Walk”) has recently broken ground, bringing hundreds of new residential units and retail activity near the civic core—supporting greater daytime population and local services demand. Norwalk Transit Village Specific Plan advances a major transit-oriented future with up to 770 residential units plus supporting commercial/civic space—another strong long-term demand catalyst. Former Norwalk Swap Meet / Alondra corridor redevelopment has been entitled for a 209-unit mixed-use project with commercial space, reinforcing the broader housing growth story in the immediate trade area. Cerritos (Bloomfield & South) rezoning actions nearby allow for potential residential development up to 107 units at the existing retail center—supporting continued infill housing growth along the Bloomfield corridor.
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Listed by Wonnie Kim with Won Suk Kim Real Estate, Inc. (562) 474-1722
Property Type
Office
Status
Active
MLS Number
DW26045173
Year Built
1959
Lot Size
1.74 acres