La Habra is found in the northwest portion of California’s Orange County. This is different from La Habra Heights, which is situated to the north of it, and is part of Los Angeles County. According to the official census in 2010, La Habra was home to some 60,239 people. Its economy is quite strong and its major employers include CVS/Pharmacy, Wal-Mart, the City of La Habra, Target, Costco, the La Habra Bakery, Kohl’s, The Home Depot, La Habra Convalescence Hospital, Lowe’s, and VIP Rubber. Thus, its economy is supported mostly by the retail and manufacturing industries.
Its median household income was just $60,954 in 2010. Also, 14% of the residents were living below the federal poverty line, which is quite substantial. On the other hand, this is a significant improvement from the 2000 statistics, when the median household income was just $47,652, and at least 19.1% of people were living below the poverty line.
La Habra Warehouse Building for Sale & Lease – Should You Buy or Lease?
For those who want to get some warehouse space in La Habra, there are two major choices: buying or leasing. Naturally, there are both pros and cons for these.
Looking first at buying warehouse space, the advantages include the fact that:
- Your monthly costs for the warehouse would be constant because amortization expenses usually won’t change.
- You can file for some tax deductions, including property taxes and mortgage interest.
- You can have an additional income source if you are able to rent out some of the warehouse space.
- The warehouse property will tend to increase in value over time.
Meanwhile, the cons include the fact that:
- If your business grows faster than you had projected or it suddenly takes a nose dive, you may need to find a buyer for the warehouse before you can move to another location.
- You will need to pay least a 30% down payment on the mortgage. You will also have maintenance, appraisal, and other property costs to pay.
The other choice would be to lease warehouse space, and its pros include the fact that:
- It is much more possible to get a warehouse in a prime location, which can result in an improved business image.
- You have more working capital because you don’t have to pay for a down payment.
- You are not concerned with the usual problems that come with property ownership.
On the other hand, the disadvantages include the fact that:
- You may need to contend with regular rent increases.
- You will not benefit from the tendency of the warehouse property to increase in value.
To help make your decision, you can take a look at the trends and statistics in terms of prices, supply, and demand, which are provided below.
La Habra Warehouse Property for Sale – Trends and Statistics
- The asking prices for warehouse properties in La Habra in in dollars per square foot is $222.13, which is a 2.7% increase over the past three months, and a 10.9% increase year on year. This is higher than the metro ($195.29) and state ($142.69) area.
- The index of total dollars for available warehouse properties for sale in Los Angeles-Long Beach-La Habra is 28, which represents a 6.7% increase over the past three months but a 2.9% decrease year on year.
- The index of total number of listings of warehouse properties available in Los Angeles-Long Beach-La Habra is 26, which is a 7.7% increase over the past three months, and a 7.2% increase year on year.
- The profile view index warehouse property for sale in the Los Angeles-Long Beach-La Habra metro area is 174, which is a 19.2% increase over the past three months, and a 30.9% increase year on year.
- The index of total square feet of available warehouse space for sale in the Los Angeles-Long Beach-La Habra metro area is 26, which is a 0.2% decrease over the past three months, and an 18.8% decrease year on year.
La Habra Warehouse Property for Lease – Trends and Statistics
- The asking rent for warehouse properties for lease in La Habra in dollars per square foot per year is $12.93. This represents a 1.3% increase over the past three months, and a 10.1% increase year on year. This is higher than the state ($10.31) area and the metro ($11.75) area, and the same as the county ($12.93) area.
- The index of total number of warehouse spaces for lease in the Los Angeles-Long Beach-La Habra area is 34, which represents a 0.5% decrease over the past three months, and an 11.9% decrease year on year.
- The profile view index for warehouse properties for lease in the Los Angeles-Long Beach-La Habra area is 128, which is a 51.9% decrease over the past three months, and a 43.5% decrease year on year.
- The index of total square feet of warehouse space available for lease in the Los Angeles-Long Beach-La Habra area is 29, which is an 8.7% decrease over the past three months, and a 20.8% decrease year on year.