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Manhattan Professional Building 806 Manhattan Beach Blvd 10,144 SF 100% Leased Office Building Manhattan Beach, CA 90266 $6,200,000 ($611.20/SF) 6.10% Cap Rate
Investment Highlights
- Irreplaceable Manhattan Beach Boulevard Location | “Gateway” To Downtown Manhattan Beach
- Immediate Access To Desirable Amenities | Adjacent Affluent “Hill Section” Homes District |Synergistic Personal / Professional Services Tenancy
- Highly Desirable / Affluent South Bay Trade Area Demographics
- Stable In Place Income With Substantial Near-Term Upside Potential| Value-Add Investor Or Redevelopment-Comm. Or Apts. (W/Cup)
- Solid Underlying Real Estate Fundamentals
Executive Summary
Manhattan Beach Value-Add Or Future Redevelopment Opportunity. Proforma Mkt. Rent NOI is $377,985 and In-Place Mo-Mo Below Mkt rental NOI is $162,009 (with projected reassessed prop taxes based on $6.2m). Big upside potential in rents
Property Facts In Escrow
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Building Size
10,144 SF
Building Class
C
Year Built
1974
Price
$6,200,000
Price Per SF
$611.20
Cap Rate
6.10%
NOI
$377,985
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,072 SF
Slab To Slab
11’
Building FAR
0.86
Lot Size
0.27 AC
Zoning
MNCL - MNCL - Local Commercial. Wide range of permitted uses -Multifamily redevelopment subject to City approved "USE" PERMIT (CUP)-expedited Bonus Density
Parking
20 Spaces (1.97 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Air Conditioning
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4170-023-017 | Improvements Assessment | $518,082 |
| Land Assessment | $185,203 | Total Assessment | $703,285 |
Property Taxes
Parcel Number
4170-023-017
Land Assessment
$185,203
Improvements Assessment
$518,082
Total Assessment
$703,285
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Manhattan Professional Building | 806 Manhattan Beach Blvd
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