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Possible Medical Conversion & 2 Signs on Roof 15122-15124 Ventura Blvd 8,353 SF 100% Leased Retail Building Sherman Oaks, CA 91403 $5,500,000 ($658.45/SF) 5.10% Cap Rate
Investment Highlights
- Potential to convert into Medical – No LA City Parking Requirement
- Prime Ventura Blvd with Access to Freeway on/off Ramps within 2 Blocks
- 22 Parking Spaces in Parking Lot
- Unique & Rare: 2 Large Signs on the Roof: 1 Billboard (Landlord Owned) and 1 On-Premise Sign
- 1 Block to Sherman Oaks Galleria anchored by Regal Theaters, 24 Hour Fitness, Burke Williams and Restaurant Row: Cheesecake Factory, PF Changs, Buff
- NNN Retail Tenants and NN Office Tenants for Ease of Management
Executive Summary
PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL INFORMATION:
OFFERING SUMMARY: 15122-15124 Ventura Blvd, Sherman Oaks, offers an investor a prime Sherman Oaks location on the premier street of the San Fernando Valley. The building is unique with 2 large rare signs on the roof. One sign is a 14 x 48 foot billboard (billboard structure is owned by the seller) and the 2nd sign is a double sided 8 x 26 foot on-premise sign. The property offers the flexibility of extending leases with existing tenants or converting the 2nd floor into medical use. The building is 100% occupied with a rear parking lot.
DEMOGRAPHICS: Dense growing population in one of the most affluent neighborhoods of the San Fernando Valley. Average household income is over 139k per year within 1 mile and over 136k within 3 miles. Over 26k residents within 1 mile, and 165k residents within 3 miles and the population continues to grow.
OFFERING SUMMARY: 15122-15124 Ventura Blvd, Sherman Oaks, offers an investor a prime Sherman Oaks location on the premier street of the San Fernando Valley. The building is unique with 2 large rare signs on the roof. One sign is a 14 x 48 foot billboard (billboard structure is owned by the seller) and the 2nd sign is a double sided 8 x 26 foot on-premise sign. The property offers the flexibility of extending leases with existing tenants or converting the 2nd floor into medical use. The building is 100% occupied with a rear parking lot.
DEMOGRAPHICS: Dense growing population in one of the most affluent neighborhoods of the San Fernando Valley. Average household income is over 139k per year within 1 mile and over 136k within 3 miles. Over 26k residents within 1 mile, and 165k residents within 3 miles and the population continues to grow.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,353 SF
Building Class
C
Year Built
1948
Price
$5,500,000
Price Per SF
$658.45
Cap Rate
5.10%
NOI
$280,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.80
Lot Size
0.24 AC
Zoning
C2-1 - Commercial
Parking
21 Spaces (2.51 Spaces per 1,000 SF Leased)
Frontage
60’ on Ventura
Amenities
- Bus Line
- Pylon Sign
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2276-006-009 | Improvements Assessment | $573,133 |
| Land Assessment | $958,548 | Total Assessment | $1,531,681 |
Property Taxes
Parcel Number
2276-006-009
Land Assessment
$958,548
Improvements Assessment
$573,133
Total Assessment
$1,531,681
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Possible Medical Conversion & 2 Signs on Roof | 15122-15124 Ventura Blvd