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Chinatown Multi-Tenant Retail For Sale/Lease 715 New High St 14,818 SF Retail Building Los Angeles, CA 90012 $5,750,000 ($388.04/SF)
Investment Highlights
- The property has frontage on two streets, Broadway and New High Street, along with parking behind the building on the second parcel.
- Downtown Community Plan zoning, with eligibility for the ED1 affordable housing program and the Downtown Adaptive Reuse Program.
- One block from Central Plaza, Chinatown's historic retail and dining hub, in one of the most heavily trafficked pockets of the neighborhood.
- A buyer occupying 35% or more of the 14,818 square foot building may qualify for SBA 504 or 7(a) financing, generally available at 85% to 90% LTV.
- Transit Priority Area and Housing Element designations. No minimum parking is required under AB 2097.
- In a submarket where roughly 830 residential units have been delivered or are under construction, with another 986 units proposed along Broadway.
Executive Summary
Kidder Mathews is pleased to present 702-712 N Broadway and 711-727 N New High Street, a retail assemblage of two parcels totaling 27,733 square feet of land and 14,818
square feet of building, located in the historic core of Los Angeles' Chinatown, one block from Central Plaza, with frontage on both Broadway and New High Street.
Five of the ten suites are occupied, three of those leases include contractual rent increases through 2029, and a second parcel is leased for parking.
The property is likely to draw interest from several types of buyers: retail owners and operators who can lease up the vacant space, owner occupants who can use SBA financing to control the building directly, and developers or long term holders attracted to the zoning and the location within one of the most active growth areas in Metro Los Angeles.
The property is being offered for sale or lease. Contact listing agents for more information.
square feet of building, located in the historic core of Los Angeles' Chinatown, one block from Central Plaza, with frontage on both Broadway and New High Street.
Five of the ten suites are occupied, three of those leases include contractual rent increases through 2029, and a second parcel is leased for parking.
The property is likely to draw interest from several types of buyers: retail owners and operators who can lease up the vacant space, owner occupants who can use SBA financing to control the building directly, and developers or long term holders attracted to the zoning and the location within one of the most active growth areas in Metro Los Angeles.
The property is being offered for sale or lease. Contact listing agents for more information.
Property Facts
Sale Type
Owner User
Property Type
Building Size
14,818 SF
Building Class
C
Year Built
1926
Price
$5,750,000
Price Per SF
$388.04
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.53
Lot Size
0.64 AC
Zoning
[DM2-MK1-5][CX1-FA][CPIO] - The parcel carries [DM2-MK1-5][CX1-FA][CPIO] zoning under the Downtown Community Plan, placing it within the Community Plan Implementation Overlay.
Parking
18 Spaces (0 Spaces per 1,000 SF Leased)
Frontage
106’ on Broadway
Amenities
- Bus Line
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $231,261 | |
| Land Assessment | $633,901 | Total Assessment | $865,162 |
Property Taxes
Parcel Numbers
Land Assessment
$633,901
Improvements Assessment
$231,261
Total Assessment
$865,162
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