Norwalk, California, is a prime location for investing in office properties for sale, with its strategic location in Los Angeles County and a population of around 102,773 residents. Office properties in Norwalk offer a diverse range of investment opportunities, from small, independent businesses to large corporations. With its rich history and cultural heritage, Norwalk has evolved into a hub for various industries, including dairy farming, sugar beet farming, and the dairy industry. The city's infrastructure, including the Los Angeles County Sheriff's Department, Los Angeles County Fire Department, and Norwalk Transit, provides a solid foundation for businesses to thrive. Additionally, Norwalk's proximity to major transportation facilities, such as the Santa Ana Freeway, San Gabriel River Freeway, and Century Freeway, makes it an attractive location for companies that require easy access to transportation networks. The city's amenities, including the Metropolitan State Hospital, Los Angeles County Registrar/Recorder's Office, and Cerritos College, further enhance its appeal as a prime location for office properties.
With 7 office properties for sale in Norwalk, investors have a wide range of options to choose from. The average price per square foot is $428 USD, and the average size of these properties is 9,097 square feet, with the largest property spanning 23,016 square feet. The average cap rate for office properties in Norwalk is 5.78%. In addition to office properties, Norwalk also offers a range of other commercial real estate options, including commercial properties, apartment buildings, shopping centers, and hotels. The city's diverse economy, which includes education, healthcare, government services, and manufacturing, provides a strong foundation for businesses to grow and thrive. The presence of major employers, such as Cerritos College, Los Angeles County Registrar-Recorder, Metropolitan State Hospital, and Norwalk-La Mirada Unified School District, further enhances the appeal of Norwalk as a prime location for office properties.
What is the average price per square foot for office properties in Norwalk?
The average price per square foot for office properties in Norwalk is $428 USD per square foot, with 7 available listings ranging in size from 9,097 square feet to 23,016 square feet, and an average cap rate of 5.78%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Norwalk, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding higher rental rates.
- Class B office properties offer functional space with standard amenities, often located in decent areas, and are suitable for a wide range of tenants, providing a balance between quality and affordability.
- Class C office properties are usually older buildings with limited amenities, located in less desirable areas, and may require renovation, making them more affordable but also presenting potential risks and challenges.
