13020-13026 Sherman Way 9,000 SF 23% Leased Retail Building North Hollywood, CA 91605 $4,195,000 ($466.11/SF) 5.42% Cap Rate

(Owner-User and/or Investment Opportunity)
The property is 100% occupied with three tenants generating $21,440/month in gross income. All three tenants — Kidz Kingdom, Van Bakery, and SimpleFloors — have been operating at this location since before 2008. These are seasoned operators with over 15 years of continuous tenancy at this address. Van Bakery has a fully built-out commercial kitchen. Two of the three tenants are month-to-month; Van Bakery holds an active lease through 3/1/2028.
All rents are below market and are structured as gross leases — the owner is currently absorbing all operating expenses. Lessor reserves the right to pass through NNN/operating expenses to tenants, representing additional income upside for a new owner. Seller financing is available — contact broker for terms.
Two of the three tenants are month-to-month; clear path for an owner-user to occupy 51% or more of the building and access SBA financing with as little as 10% down. For an investor, the property generates day-one income at 100% occupancy with an in-place cap rate of 3.48%* and a proforma cap rate of 5.42%‡ if the investor passes 100% of operating expenses to tenants (NNN) following a $100K renovation.
Occupy Kidz Kingdom (5,294 SF / 58.82%) and qualify for SBA 504 or 7(a) financing with as little as 10% down ($419,500). Remaining two tenants generate $9,540/month in rental income day one.
• Gross annual income per owner’s 2025 P&L: $244,880
• Seller financing available (Contact Broker for Guidance on Terms)
• Loan may be assumable (Seller needs to check with Lender)
• Seller is not charging operating expenses
• Kidz Kingdom is paying $2.24/psf/mo. (gross)
• Van Bakery is paying $2.89/psf/mo. (gross)
• Simple floors is paying $2.17/psf/mo. (gross)
• UPSIDE: Seller is not charging nnn & rents are below market. Leases reserve the right to pass through triple nets.