528-530 N Fries Ave, Wilmington, CA 90744

528-530 N Fries Ave, Wilmington, CA 90744

Wilmington, CA
$1,595,000

Property Description

INVESTMENT HIGHLIGHTS

  • Industrial Building in Wilmington (Zoned LARD1.5)
  • Building is Currently Vacant | Market Rent $6,376/Mo
  • Located About a Mile North from the Turning Basin
  • New Zoning Will Allow for up to 15 Units (8 Units By Right, 15 Units if All Affordable Housing Units)
  • $250.20/SF| 4.80% Market Cap

EXECUTIVE SUMMARY

Lyon Stahl is proud to present 528 N Fries Ave, a well-positioned industrial-use property in Wilmington. Built in 1978, the existing 6,375 SF warehouse sits on a large 11,351 SF lot and features an upstairs office, breakroom, and bathroom. The building zoning was recently changed. Per the city, industrial use is grandfathered in (buyer to verify). With the new zoning, a buyer will also have the development potential to build up to 15 units.
Currently with a 4.80% market cap, this property is a unique opportunity for an investor to enter the industrial space or expand their portfolio in a hot market.

Property Features

  • Sale Price: $1,595,000
  • Area Size: 6,375 SF
  • Land Area: 11,351 SF
  • Year Built: 1978
  • Listing Date: 6/13/2022

Lyon Stahl Investment Real Estate

Keep In Touch