16040 Sherman Way
Van Nuys, CA 91406
Land For Sale · 2.85 AC

DEVELOPMENT OPPORTUNITY The site is composed of three parcels with an aggregate square footage of approximately 124,146 Sq. Ft. (2.85 acres). Presently, Toys "R" Us occupies the improvements (40,625 Sq. Ft. Gross) as a single tenant paying $630,000 Triple net rent (annually) or $52,000 a month. ZIMAS Map Zoning C2-1VL Uses: Retail w/ limited Manufacturing Service Stations and Garages, and R4 Uses (Multi-Family) 1VL= 45 ft. height or 3 stories. 3 Stories (Floor Area Ratio: 1.5 to 1) Property is subject to an Enterprise Zone/ an Employment and Economic Incentive Program Area (EZ) See Generalized Summary of Zoning Regulations, City of Los Angeles South/East corner of Sherman Way and Woodley Ave. in the city of Van Nuys. Neighboring North Hills to the North, Sherman Oaks to the South, Valley Glen to the East, Lake Balboa to the West, and centrally located between the 405 and 5 Freeways, Van Nuys is a neighborhood in the center of culturally diverse San Fernando Valley, known as a multifamily submarket and housing a growing population exceeding 100,000 residents. There is a big makeup of different types of land uses in Van Nuys including dense residential areas, large business centers, lots of industrial uses, and mom and pop retailers mixed in with single family units.