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Berkus Business Complex 16102-16116 Hart St 14,678 SF 100% Leased Industrial Building Van Nuys, CA 91406 $4,175,000 ($284.44/SF) 5.76% Cap Rate
Investment Highlights
- Fully occupied 14,678 SF industrial property with eight functional units, providing immediate cash flow and stability.
- Highly functional specifications including 14-foot clear heights, heavy power (2,400 amps, 3-phase), ground-level loading, and 100% climate control.
- Zoning flexibility (QMR1-1 & QP-1) accommodating a broad spectrum of industrial and commercial uses.
- Built-in rent growth through contractual annual escalations and in-place CAP rate of 5.76%, trending to 6.12% in Year 2.
- Favorable infill location with convenient access to the 405, 101, and 118 freeways and less than one mile from Van Nuys Airport.
Executive Summary
Marcus & Millichap is pleased to exclusively offer for sale 16102–16116 Hart
Street, Van Nuys, CA, a 100% leased, multi-tenant industrial property located
adjacent to Van Nuys Airport in the heart of the San Fernando Valley. Offered
at $4,175,000, the property represents a turnkey, stabilized investment in one of
the Valley’s most consistently high-demand industrial submarkets. The offering
equates to $284.44 per square foot and provides a compelling 5.76% in-place
capitalization rate, with market-rate rents averaging approximately $1.98/SF
and built-in annual escalations driving a Year-2 CAP rate of approximately
6.12%.
Constructed in 1989, the property comprises approximately 14,678 square feet
across eight functional industrial suites, each featuring efficient warehouse
layouts, dedicated 2nd floor office components, private roll-up doors,
and 100% climate controlled with individual HVAC systems. Situated on a
21,646-square-foot (0.50-acre) parcel zoned QMR1-1 and QP-1, the asset
supports a broad range of industrial, service, and commercial uses. Core
features, including 14-foot clear heights, 2,400 amps of 3-phase, 4-wire
power, and ground-level loading for every unit, make the property highly
adaptable for light manufacturing, distribution, storage, and specialty trade
users. The property also includes 29 on-site gated parking spaces, equating
to approximately 2.0 spaces per 1,000 square feet, a meaningful advantage in
a dense infill environment.
With full occupancy, durable tenant tenure, highly functional construction,
and a high-visibility corner location, 16102–16116 Hart Street presents an
opportunity to acquire a stable, income-producing industrial asset in one of
Los Angeles’ most resilient and high-barrier-to-entry industrial submarkets.
Street, Van Nuys, CA, a 100% leased, multi-tenant industrial property located
adjacent to Van Nuys Airport in the heart of the San Fernando Valley. Offered
at $4,175,000, the property represents a turnkey, stabilized investment in one of
the Valley’s most consistently high-demand industrial submarkets. The offering
equates to $284.44 per square foot and provides a compelling 5.76% in-place
capitalization rate, with market-rate rents averaging approximately $1.98/SF
and built-in annual escalations driving a Year-2 CAP rate of approximately
6.12%.
Constructed in 1989, the property comprises approximately 14,678 square feet
across eight functional industrial suites, each featuring efficient warehouse
layouts, dedicated 2nd floor office components, private roll-up doors,
and 100% climate controlled with individual HVAC systems. Situated on a
21,646-square-foot (0.50-acre) parcel zoned QMR1-1 and QP-1, the asset
supports a broad range of industrial, service, and commercial uses. Core
features, including 14-foot clear heights, 2,400 amps of 3-phase, 4-wire
power, and ground-level loading for every unit, make the property highly
adaptable for light manufacturing, distribution, storage, and specialty trade
users. The property also includes 29 on-site gated parking spaces, equating
to approximately 2.0 spaces per 1,000 square feet, a meaningful advantage in
a dense infill environment.
With full occupancy, durable tenant tenure, highly functional construction,
and a high-visibility corner location, 16102–16116 Hart Street presents an
opportunity to acquire a stable, income-producing industrial asset in one of
Los Angeles’ most resilient and high-barrier-to-entry industrial submarkets.
Property Facts
Amenities
- Fenced Lot
- Air Conditioning
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2224-024-028 | Improvements Assessment | $1,079,823 |
| Land Assessment | $581,436 | Total Assessment | $1,661,259 |
Property Taxes
Parcel Number
2224-024-028
Land Assessment
$581,436
Improvements Assessment
$1,079,823
Total Assessment
$1,661,259
Contacts
-
Brin Hamblin -
Joshua Yaris -
Ryan Rothstein-Serling -
Martin Agnew -
Agnew | Serling Group
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Berkus Business Complex | 16102-16116 Hart St
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