18511 Sherman Way
Reseda, CA 91335
PRICE REDUCTION - NNN Medical/Retail · Office Property For Sale

Marcus & Millichap has been selected to exclusively market for sale 18511 Sherman Way, a two-story retail/medical-use storefront with a large, double-sided billboard located on Sherman Way, just west of the Northwest signalized corner of Reseda Boulevard and Sherman Way, in Reseda, California. 18511 Sherman Way is currently 100% occupied by a dental office on a NNN basis with a lease expiration of 2028. The lease has annual 3% increases. 18511 Sherman Way offers a stable and secure income stream with an additional income stream from the large, double-sided billboard. The property is occupied by City Dental Group. Sherman Way is a high pedestrian and heavily trafficked street in Reseda. Approximately 30,133 vehicles per day travel on Reseda Boulevard and Sherman Way. The neighborhood is ranked 86 out of 100 on walkscore.com for walkability. Additionally, there is a city owned parking lot in the rear of the property, which offers significant parking of over 100 spaces. City Dental Group has 11 years remaining on the base term of the lease at a rent per SF of $1.70. The uniqueness of this offering is that the building is zoned for medical use, which is difficult usage to obtain. Significant tenant improvements have been made to the existing space, improving the overall value of the asset.