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Julie Schulte Maddox

Sierra Madre CA Real Estate & Commercial for Sale

1 Properties Found

The median home value in Sierra Madre, CA is $1,193,000. This is higher than the county median home value of $740,000. The national median home value is $277,796. The average price of homes sold in Sierra Madre, CA is $1,193,000. Approximately 57% of Sierra Madre homes are owned, compared to 36% rented, while 6% are vacant. Sierra Madre real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you like to see a property, contact Sierra Madre real estate agent to arrange a tour today!
Learn more about Sierra Madre.


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Beds:
n/a
Baths:
Sq.Ft.:
12,491
Status:
Active
MLS#:
IV22237857
Type:
Retail
Lot size:
0.54 Acres
Year built:
1966
Courtesy: ALBERT LE - LE INVESTMENT GROUP
View additional info

Recent Price Reduction. ALL tenants are absolute NNN, with long term leases and built-in 3.00% annual increases. Drive by only. 370 West Sierra Madre Blvd. Sierra Madre, CA is a single story 12,491 Sq. Ft. building built in 1966 with large approximately 4,000 +/- Sq. Ft. basement. Updates and upgrades have been completed throughout ownership and show a great pride of ownership. The lot totals 0.58 acres and is located directly on Sierra Madre Boulevard a major regional thoroughfare and commercial corridor for the city of Sierra Madre. The recent capital improvements to the property include but are not limited to; new exterior paint, resealed roof, new 3" asphalted parking surface with new striping, two (2) brand new HVAC units and all other HVAC systems overhauled, serviced and in working order, new monument signs to increase exposure, and updated landscaping. The property features ample onsite parking, and excellent visibility from Sierra Madre Blvd. The retail center is 100% absolute NNN leases. All leases features annual 3% rental increases and allotments for management expenses, escalations for an increases to real estate and owner insurance premiums through tenancy. ALL expenses are passed to the tenants making this a rare opportunity to acquire a multi-tenant strip center with ZERO landlord expenses and minimal management obligations. Professional property management in-place with expense passed to the tenants. The tenants have continued to show commitment to the location with lease extensions. The three (3) anchored and most seasoned tenants include the Flower shop being at this location 30+ years, the Sierra Madre Learning Center at this location for 18+ years and the Laundry being at this location 20+ years and having just completed nearly $250,000 in new equipment and interior renovations. The other tenants include e-commerce resistant mix of tenancy. The six (6) retail tenants share a ProRata share of the common area expenses of 100%. The basement tenant pays a base rental rate of $1.27/psf. The Location; The property is located at the heart of the Sierra Madre commercial corridor. Sierra Madre the Village of the Foothills. Centrally located between Pasadena and Arcadia, the City of Sierra Madre is made up of three square miles of serene neighborhoods and green space. At its heart is the Citys charming downtown shopping district, a popular landmark for visitors and the approximately 11,000 residents that call Sierra Madre home.

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The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Based on information from CRISNet MLS as of 11/29/2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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