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Wells Fargo 21834 Sherman Way 12,170 SF Retail Building Canoga Park, CA 91303 $3,125,000 ($256.78/SF) 4.75% Cap Rate
Investment Highlights
- Wells Fargo has recently provided confirmation to exercise their option to extend through August 31, 2031.
- Generous land-to-building ratio on two parcels provides excellent parking and potential long-term redevelopment upside.
- The branch has a triple-drive thru located on premise allowing for flexible repositioning plays upon lease expiration.
- The property is located one (1) block east of Topanga Blvd. situated approximately one (1) mile north of the future Rams Village at Warner Center.
- ells Fargo (and its predecessor, First Interstate Bank) has continuously occupied this location since 1996, demonstrating strong site commitment.
- The branch is on Wells Fargo’s 2026 refresh/renovation list and will undergo improvements this year, at tenant’s expense.
Executive Summary
Low Price Per Square Foot - Well Fargo Lease Recently Extended on Sherman Way
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
12,170 SF
Building Class
C
Year Built
1954
Price
$3,125,000
Price Per SF
$256.78
Cap Rate
4.75%
NOI
$148,438
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.83 AC
Opportunity Zone
Yes
Zoning
C2 - Commerical
Parking
53 Spaces (4.35 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Security System
- Signage
- Signalized Intersection
- Drive Thru
- Balcony
- Smoke Detector
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $647,505 | |
| Land Assessment | $327,500 | Total Assessment | $975,005 |
Property Taxes
Parcel Numbers
Land Assessment
$327,500
Improvements Assessment
$647,505
Total Assessment
$975,005
Contacts
-
Patrick Wade -
Bo Henderson -
Alex Kozakov -
Matthew Greenberg -
Jack Webber -
Nick Solomon -
Vivian Tran -
CBRE, Inc.
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Wells Fargo | 21834 Sherman Way
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