PACOIMA, CA
11247 ILEX AVENUE
PACOIMA, CA 91331
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CHRISTIAN DESNOES
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DANNY MURRAY
11247 Ilex Avenue, Pacoima, CA 91331
Address:
Property Type:
Single-tenant
Price:
$1,587,600
Building Square Feet:
5,040 SF
Lot Size:
0.22 Acres
Price Per Square Foot:
$315.00
Year Built/Renovated:
1972/2013-2014
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About the Property
5,040-Square-Foot Vacant Industrial Building on 0.22 Acres of Concrete Paved Land
Masonry Construction with 12’ Clear Height, Two (2) Ground-Level Doors, and 1,100 AMPs of Power
Separately Metered and Easily Divisible into Two Units
Includes a Bonus 800-SF Fully Insulated Attached Mezzanine Space
Metal-Gated Yard for Added Security
Perfect for Owner-User or Investor Lease-Up Opportunities
About the Location
Over 80 Feet of Street Frontage on Ilex Avenue, Near a Cul-De-Sac
Located in a Qualified Opportunity Zone and Green Zone, Offering Tax Benefits and Cannabis Industry Potential
Situated in the Core Industrial Pocket of the East San Fernando Valley Submarket, Home to Over 55 Million SF of Industrial Space
Proximity to Major Transit Hubs, Including State Route 118 Freeway, Long Beach and Los Angeles Ports, Burbank Airport, Los Angeles International Airport, and Downtown Los Angeles
High Barrier-to-Entry Submarket with an Impressively Low 3.6% Vacancy Rate (CoStar)
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 11247 Ilex Ave in Pacoima, California. The subject property consists of approximately 5,040 square feet of industrial space situated on 0.22 acres of land. This single-tenant asset features a clear height of 12 feet, two ground-level doors, masonry construction, and 1,100 amps of power. Located in both a Qualified Opportunity Zone and a Qualified Green Zone, the property offers significant tax incentives for investors and access to the rapidly growing cannabis industry. It is separately metered and easily divisible into two units. For sale as vacant, buyers have the flexibility of an owner-user or lease-up opportunity at the close of escrow.
The property is strategically located in the East San Fernando Valley submarket, one of the region’s largest submarkets with 55.1 million square feet of industrial space. As of Q4 2024, the submarket boasts an impressively low vacancy rate of 3.6%, significantly outperforming the 6.1% vacancy rate in the Greater Los Angeles market. While annual rent growth has slowed to 1.3% over the trailing 12 months, rents in the area remain aligned with the long-term growth trend, supported by staggering double-digit growth over the past five years. Industrial rents in this submarket, particularly for smaller industrial spaces, can reach up to $30/SF, with older, larger spaces typically ranging from the high teens to $20/SF. The submarket has experienced modest industrial development, ensuring that vacancies and rents remain stable due to the limited new supply (CoStar).
Investment Overview
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved.