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16103 Sherman Way
Van Nuys, CA 91406
Chevron · Retail Property For Sale
Investment Highlights
- Current lease expires August 31, 2027, creating a unique chance for an owner-user to operate their business upon lease expiration.
- A recent Phase I (2025) came with No Further Action needed, which is complemented by regular and successful tank/piping tests.
- Within a 3-mile radius: 281,799 residents and an average household income of $110,833, supporting strong fuel and retail sales.
- Situated at Sherman Way & Woodley Avenue, a heavily trafficked intersection with 66,815 cars per day.
- Favorable lease language ensures landlord control over equipment and environmental provisions, enabling a smooth transition for future operations.
- Less than 0.5 miles from the I-405 freeway exit at Sherman Way and 0.05 miles from Van Nuys Airport, ensuring consistent traffic flow.
Executive Summary
Prime Hard-Corner Gas Station in Van Nuys
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Service Station
Building Size
1,161 SF
Building Class
C
Year Built
1950
Price
$5,500,000
Price Per SF
$4,737.30
Cap Rate
2.17%
NOI
$119,326
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.29 AC
Opportunity Zone
Yes
Zoning
LAC2
Parking
6 Spaces (3.4 Spaces per 1,000 SF Leased)
Frontage
116’ on Sherman Way
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Property Taxes
| Parcel Number | 2205-028-001 | Improvements Assessment | $95,699 |
| Land Assessment | $316,854 | Total Assessment | $412,553 |
Property Taxes
Parcel Number
2205-028-001
Land Assessment
$316,854
Improvements Assessment
$95,699
Total Assessment
$412,553
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