13001 Lambert Rd, Whittier, CA 90602

Property Description

The subject property is an approximately 5,250± square feet 6-unit strip center on the signalized north east corner of Lambert Road and Greenleaf Avenue in the City of Whittier. The property is situated on nearly 27,000 square feet of land and boasts a rare 10-to-1 parking ratio. The parcel is zoned C2 (general commercial) and nearly all tenants are on month to month lease or have short term expiration dates.
 
 The property currently hosts a variety of tenants including an upholstery shop, an automotive repair facility, a beauty salon, a print shop and a large flower store. The flower shop can be vacated upon the close of escrow. On average, the tenants pay $2.00/SF on a gross lease basis plus the Landlord pays utilities for the tenants. Considering the large parking lot, our opinion is that the asset should be able to support rents at about $2.50 / SF with the tenants paying for their own utilities. That adjustment alone has the potential of improving the property cap rate to 6.4% based on conservative proforma estimates.
 
 **Square Footage as reported on CoStar & Loopnet is 5,548 SF, which may be inaccurate. Property profile is also inaccurate. Per broker's measurements, building is approximately 5,250 square feet; Buyer to verify as neither Agent nor Seller can guarantee accuracy in square footage.