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Redevelopment Opportunity: Bank of America 17650 Saticoy St 987 SF Retail Building Van Nuys, CA 91406 $3,500,000 ($3,546.10/SF) 2.74% Cap Rate
Investment Highlights
- Rare opportunity to acquire larger parcel in Van Nuys, the most populous neighborhood in the San Fernando Valley
- Incredibly dense population with over 635,000 people within a 5-mile radius
- Excellent ingress/egress with four curbs cuts – two on Saticoy St, one on White Oak Ave, and one on Tierra St
- Very flexible zoning in C-4 (see page 6)
- Property is located 2.5 miles south of US-101 and 2.5 miles east of I-405
- Limited retail competition in the immediate trade area - Bank of America has been at the location since 1981
Executive Summary
8.60 Acres of developable land on a major thoroughfare in Northern California
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
987 SF
Year Built
1981
Price
$3,500,000
Price Per SF
$3,546.10
Cap Rate
2.74%
NOI
$95,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.46 AC
Zoning
LAC4
Parking
9 Spaces
Frontage
26’ on Saticoy Street
Walk Score®
Very Walkable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 2202-025-024 | Improvements Assessment | $275,914 |
| Land Assessment | $848,966 | Total Assessment | $1,124,880 |
Property Taxes
Parcel Number
2202-025-024
Land Assessment
$848,966
Improvements Assessment
$275,914
Total Assessment
$1,124,880
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Redevelopment Opportunity: Bank of America | 17650 Saticoy St
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