|Price/Rent PSF||$ 790,000.00|
The property is located on the north western end of Bellflower, California and is in very close proximity to the neighboring city of Paramount. The City of Bellflower is in the Southeast region of Los Angeles County.
The neighborhood communities surrounding Bellflower include Cerritos, Downey, Lakewood, Long Beach, Norwalk and Paramount. According to the 2000 US Census, there is a population of 72,829 people living in Bellflower. The median household income (2008 dollars) is $53,325 which is about average for the county of Los Angeles.
The subject property is an approximately 21,597 square feet vacant land parcel located at 9021 Somerset Boulevard in Bellflower, California, one parcel off the corner of Lakewood & Somerset Boulevards. The lot is a near perfect rectangle measuring 180’ wide by 110’ deep. The expansive frontage on Somerset Boulevard allows for an M1 property to be used as a retail asset with over 46,000 combined vehicle-count on the corner of Lakewood and Somerset Boulevards.
The current owner has prepared plans for a 9,600 square feet 2-story medical/office building. These plans include parking for 32 spaces as required by city code, which is 1 parking space per 300 square foot building. There is a total of 10-units, four on the bottom and six on the 2nd floor with plans for elevator service.
At the corner is a newly developed 7-11 retail strip center and catty corner is a newly built self service car wash. To the north and behind the property is a motel as well as a newer construction multi-tenant industrial park. Adjacent to the subject property is a single tenant automotive use property a retail strip center directly to the east.