13476 Van Nuys Blvd
Pacoima, CA 91331
Retail Property For Sale

This 16,500 SF lot contains over 7,700 SF of mixed-use improvements. There are 6 retail tenants occupying between 500 - 1800 SF, all but 1 on month to month leases, with less than 1 year left. There are 2 SFR’s with 3Bd + 2Bth each, one 2-car garage, one carport, and plenty of parking for each retail unit. There is a full size billboard providing additional income as well. The asset is located on a prime corner in a rapidly improving area along the recently approved East San Fernando Valley Transit Corridor. It sits between two of the major stops along the new light rail development and boasts a traffic count of +/- 29,420 cars per day. Hundreds of new residential units are already under construction and pending approvals within a few miles of the subject property. Tenants enjoy easy access to both the I5 and the 118 freeway, which quickly lead to the 405 and 210 freeways in a few short minutes. They are within walking distance to over a dozen eateries, multiple markets, and plenty of retailers including medical, dental, vehicle maintenance and repairs, the local library, Post Office and DMV. Costco, Lowes, Smart & Final are also a few minutes away, as well as many parks, recreation centers, and the Whiteman Regional Airport. An astute investor will benefit from a stabilized asset creating a strong return at a 5.2% CAP rate, 12.5 GRM with over 15% upside in rental income. There is also the opportunity to redevelop the lot into a single or multi tenant net leased property with drive through, or a large multifamily project as it is zoned in a Tier1 TOC location, with local community and governmental support for more affordable housing units in the area.