Marcus & Millichap’s Agnew | Serling Group is pleased to present an exceptional opportunity at 8757-8759 Sepulveda Blvd, North Hills, CA. The subject property features a spacious 9,123 square foot retail building situated on a generous 0.84-acre C2-1 zoned parcel. Previously occupied as a fitness facility, the building’s open layout makes it suitable for a vast array of retail or office uses. Its versatile zoning and extensive parking—boasting 61 spaces, or 6.69 spaces per 1,000 square feet—accommodate a wide range of uses including those that are parking intensive (i.e. medical, restaurants, etc.).
Originally constructed in 1966, this property is strategically positioned on a high-traffic intersection of Sepulveda Blvd, which sees over 33,000 vehicles daily. The approximately 130 feet of frontage and pylon signage ensures excellent visibility, making it an attractive location for any business.
The building is currently 100% vacant, offering immediate occupancy for an owner-user or tenant. For those interested in purchase financing, attractive 90% Loan-to-Value (LTV) Small Business Administration (SBA) loans are available for qualified buyers who intend to occupy at least 51% of the space. Alternatively, a value-add investor might consider this property as a covered land play surrounded by new construction apartment projects along a key thoroughfare in North Hills.
The 0.84-acre parcel also presents an exciting development opportunity. The development potential by-right allows for approximately 91 buildable units. Alternatively, the development potential with the Tier 3 TOC incentive allows for approximately 157 buildable units. Other development incentives may apply such as AB 1287 and ED1. The subject property is just one block away from the Mission Gateway apartments at 8811 Sepulveda Blvd, a $138 million, five-story, 356-unit affordable housing complex. Directly across the street, at 8750 N Sepulveda Blvd, a 43-unit apartment development is under construction.
