21061 Sherman Way
Canoga Park, CA 91303
PRICE REDUCTION - O'Reilly Auto Strip Center · Retail Property For Sale

The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 21059 Sherman Way, a 15,591-square foot strip center situated on 37,549 square feet of land in Canoga Park, CA. The subject property is ideally located on the northwest signalized corner of Sherman Way and Variel Avenue, just east of Canoga Avenue and west of DeSoto Avenue. 21059 Sherman Way consists of a 7,000 SF O’Reilly Auto Parts, and 8,000 SF of retail. O’Reilly Auto Parts has successfully operated at this location for 20 years. The subject property is 100% occupied, creating a stable and secure income stream. O’Reilly Auto Part’s, a national tenant with investment grade credit, consists of 47% of the property. O’Reilly’s is rated BBB+ by Standard & Poors. 21059 Sherman Way benefits from excellent foot traffic in the immediate area and is shadow anchored by CVS Pharmacy, which sits directly adjacent to the subject property. There are multiple national retailers in the immediate area, including Burger King, Vallarta Supermarket, Metro PCS, Domino’s Pizza, AutoZone, Carl’s Jr. and more. The subject property makes up part of a larger shopping center that benefits from an excellent mix of local, regional, and national tenants and presents excellent cross-over shopping and dining options and aids to the overall success of the subject property. There is ample parking in the front and rear of the building. Canoga Park is a neighborhood in the west San Fernando Valley region of Los Angeles, California. Canoga Park borders Warner Center, which is the main business center of the San Fernando Valley. Warner Center is home to one of the largest shopping centers in California, Westfield Topanga, and the Village at Westfield Topanga. Significant development and capital is being poured into Warner Center. Canoga Park benefits from a dense immediate population of approximately 447,000 people within a five-mile radius and an average household income north of $80,000.