The subject property is a retail shopping center, Newton-Pacific Center is located at 3100-3160 Pacific Coast Highway in the City of Torrance. The center was constructed in 1966 with a mixed-use office component which comprises 5,400 sq.ft (20%) of the total
3100 Pacific Coast Hwy, Torrance, CA 90505, USA
$13,000,000 USD
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Address3100 Pacific coast, Torrance
Property SubtypeRetail
Price$13,000,000
Property TypeCommercial Sale
Year Built1966
Bedrooms Total0
Living Area27,385 ft2
Listing IDSB20179527
StatusActive
Parcel Number7535004004
ZoningGC/R1
Special ConditionsStandard
Days on Market58

Detailed Description: The subject property is a retail shopping center, Newton-Pacific Center is located at 3100-3160 Pacific Coast Highway in the City of Torrance. The center was constructed in 1966 with a mixed-use office component which comprises 5,400 sq.ft (20%) of the total rentable square footage of 27,385. The parcel is a large 71,133 square foot lot that is zoned General Commercial which allows a broad range of uses. There is also an additional adjacent 4,782 square foot parcel included in this offering that is not paved or improved and is zoned R1 with egress from the commercial lot. This parcel could potentially be used for additional parking as the lot size is below the minimum size for residential development. The shopping center has been very well maintained by a long-term owner. There are 30 tenants in the center of which 24 are on a month to month tenancy and have been in business at the center for many years at below market rents. This offering is a rare repositioning opportunity for an investor to realize a CAP rate in excess of 6% on stabilized market rents. The zoning allows for commercial and mixed use multi-residential uses. Senior housing uses are also allowed with approval of a CUP (Conditional Use Permit). The property is offered at $13,000,000 free and clear of any debt. Newton-Pacific is an irreplaceable property in an A + location with substantial upside in income for the astute investor seeking an added value asset.

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Address Information
Address3100 Pacific coast, Torrance
CityTorrance
Location (MLS Area)125 – Walteria
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90505
Postal Code Plus46708
CountryUS
Financial Information
Price per Square Foot$474.71
Total Monthly Rent$50,927
Special ConditionsStandard
Total Expenses$273,850
Professional Management Expense$38,872
Operating Expense$273,850
Insurance Expense$13,000
Maintenance Expense$30,000
Reserves Expense$6,500
Gross Scheduled Income$871,308
Net Operating Income$785,109
Vacancy Allowance$43,565
Effective Gross$1,058,959
Other Income 1$231,216
Real Estate Tax Expense$145,730
Tax Annual Amount$145,730
Tax Year2000
Full Descriptions
Parcel Number7535004004
Detailed DescriptionThe subject property is a retail shopping center, Newton-Pacific Center is located at 3100-3160 Pacific Coast Highway in the City of Torrance. The center was constructed in 1966 with a mixed-use office component which comprises 5,400 sq.ft (20%) of the total rentable square footage of 27,385. The parcel is a large 71,133 square foot lot that is zoned General Commercial which allows a broad range of uses. There is also an additional adjacent 4,782 square foot parcel included in this offering that is not paved or improved and is zoned R1 with egress from the commercial lot. This parcel could potentially be used for additional parking as the lot size is below the minimum size for residential development. The shopping center has been very well maintained by a long-term owner. There are 30 tenants in the center of which 24 are on a month to month tenancy and have been in business at the center for many years at below market rents. This offering is a rare repositioning opportunity for an investor to realize a CAP rate in excess of 6% on stabilized market rents. The zoning allows for commercial and mixed use multi-residential uses. Senior housing uses are also allowed with approval of a CUP (Conditional Use Permit). The property is offered at $13,000,000 free and clear of any debt. Newton-Pacific is an irreplaceable property in an A + location with substantial upside in income for the astute investor seeking an added value asset.
Water SourcePublic
UtilitiesCable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
Laundry FeaturesNone
SignageSign Freestanding
Property parameters
Year Built1966
Living Area (Sq.Ft.)27,385 ft2
Lot Size SourceAssessor
Number of Buildings1
Number of Units Leased30
ZoningGC/R1
Stories Total2
Water SourcePublic
Land Usage DescriptionOffice, Retail
Property SubtypeRetail
Building StatusExisting
Year Built SourceAssessor
Accounting TypeProForma
Cap Rate (For Cash Payment Only)6.04
Listed withStephen Lampe (Re/Max Commercial & Investment)