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Medical Office Conversion or Apartment Dev 8741-8747 Van Nuys Blvd 15,046 SF 31% Leased Retail Building Panorama City, CA 91402 $4,425,000 ($294.10/SF)
INVESTMENT HIGHLIGHTS
- Potential Medical Office Conversion or Apartment Redevelopment
- Lot Size and Layout allows for approx. 100 Parking Spaces on Grade
- 3 Blocks from new Rail Station with connections to Metrolink Station and the Orange & Red Rail Lines
- 15,046 SF Building on 16,774 SF of Land (plus additional 9,155 SF Lot available)
- 1 Block from Food4Less & El Super Supermarkets, 3 Blocks from Walmart, Malls & Amenities
- 7 Schools & Kaiser Permanente Hospital within approximately 1 Mile
EXECUTIVE SUMMARY
PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL INFORMATION:
OFFERING SUMMARY: 8741-8747 Van Nuys offers an investor an existing 15,046 SF building which can be
converted into medical office or developed into apartments. With the additional 9,155 SF Lot, the property
has abundant parking and qualifies for medical uses. The location offers easy walking access to 2
supermarkets within 1 block as well as Walmart, malls and retailers within 3 blocks. Convenient
transportation options with the new rail station being built 3 blocks away offering connections to the
Orange & Red and MetroLink rail lines, numerous bus lines and easy access to 4 freeways (405, 5, 118 &
170). Additionally, with 7 schools in less than a mile and the Kaiser Permanente Medical Center just over a
mile away, all resident needs are easily accessible.
DEMOGRAPHICS: High housing demand with over 73k residents within 1 mile and 175k residents within 2 miles. Household income averages over $71k within 1 mile and $82k within 2 miles.
PRICE: $4,425,000
OFFERING SUMMARY: 8741-8747 Van Nuys offers an investor an existing 15,046 SF building which can be
converted into medical office or developed into apartments. With the additional 9,155 SF Lot, the property
has abundant parking and qualifies for medical uses. The location offers easy walking access to 2
supermarkets within 1 block as well as Walmart, malls and retailers within 3 blocks. Convenient
transportation options with the new rail station being built 3 blocks away offering connections to the
Orange & Red and MetroLink rail lines, numerous bus lines and easy access to 4 freeways (405, 5, 118 &
170). Additionally, with 7 schools in less than a mile and the Kaiser Permanente Medical Center just over a
mile away, all resident needs are easily accessible.
DEMOGRAPHICS: High housing demand with over 73k residents within 1 mile and 175k residents within 2 miles. Household income averages over $71k within 1 mile and $82k within 2 miles.
PRICE: $4,425,000
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
15,046 SF
Building Class
C
Year Built
1956
Price
$4,425,000
Price Per SF
$294.10
Percent Leased
31%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.90
Lot Size
0.39 AC
Opportunity Zone
Yes
Zoning
C2-2 - Commercial
Parking
45 Spaces (2.99 Spaces per 1,000 SF Leased)
Frontage
103’ on Van Nuys Blvd
AMENITIES
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2653-002-006 | Improvements Assessment | $317,578 |
| Land Assessment | $166,113 | Total Assessment | $483,691 |
PROPERTY TAXES
Parcel Number
2653-002-006
Land Assessment
$166,113
Improvements Assessment
$317,578
Total Assessment
$483,691
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Medical Office Conversion or Apartment Dev | 8741-8747 Van Nuys Blvd
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