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14651 Ventura Blvd
Sherman Oaks, CA 91403
Burlington | 8yrs Remain Corp NN | NYSE: BURL · Retail Property For Sale
Investment Highlights
- 8 Years Remaining | Corporate Signed (NYSE: BURL) | Nearby Major Interstates | High Barrier to Entry Market
- Westfield Fashion Square (868,000 SF) | Nearby National/Credit Tenants | Primary Retail Corridor
- NN Leased | Fee Simple Ownership | Recent CapEx Improvements | Limited Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
SRS National Net Lease is pleased to offer the generational opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporated signed (NYSE: BURL), Burlington investment property located along historic Ventura Boulevard in Sherman Oaks, California (Los Angeles County). The tenant has 8 years remaining on their lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 5% rental increase in March 2029, as well as 7.5% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. This offering represents a rare opportunity to acquire a credit single tenant, trophy asset within infill area characterized by extremely high barriers for new development.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
24,890 SF
Building Class
B
Year Built
1999
Price
$12,358,000
Price Per SF
$496.50
Cap Rate
5.50%
NOI
$679,700
Tenancy
Single
Building Height
1 Story
Building FAR
0.72
Lot Size
0.79 AC
Zoning
C - Commercial
Parking
90 Spaces (3.62 Spaces per 1,000 SF Leased)
Frontage
139’ on Ventura
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signage
- Signalized Intersection
Property Taxes
| Parcel Number | 2265-005-024 | Improvements Assessment | $3,620,850 |
| Land Assessment | $2,896,672 | Total Assessment | $6,517,522 |
Property Taxes
Parcel Number
2265-005-024
Land Assessment
$2,896,672
Improvements Assessment
$3,620,850
Total Assessment
$6,517,522
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