19709 Ventura Blvd - Office FOR SALE


Woodland Hills, CA 91364
$2,800,000 USD
818-212-2794
19709 Ventura Blvd, Woodland Hills, CA for Sale
$2,800,000 USD
Office - FOR SALE
1/29
null | Request Cap Rate

19709 Ventura Blvd
Woodland Hills, CA 91364


HIGHLIGHTS

  • The ground floor retail is made up of four (4) retail units, one separate unit in the rear, and five (5) second floor office units totaling 5,818 SF
  • The property is 41.12% occupied generating $6,533.00 per month or $3.01/SF on gross leases
  • The current tenancy is on short term leases with an average term remaining of 0.28 years with the longest lease expiring in 4/30/2025
  • Short-term leases create an immediate value-add opportunity or ability for an owner-user to occupy a portion or all of the property for their own use
  • Ideally positioned one parcel west of the NW signalized corner of Corbin Avenue and Ventura Boulevard
  • Approximately 50 feet of linear frontage along Ventura Boulevard

OVERVIEW

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is please to present 19709 Ventura Boulevard, a 5,818 square foot mixed-use retail and office property situated on 0.15 acres of land (6,603 SF) in the affluent West San Fernando Valley submarket of Woodland Hills, CA. 19709 Ventura Boulevard is currently 41.12% occupied by a mix of ground floor retail tenants and second floor office tenants. The ground floor is made up of four (4) retail units and one additional unit in a separate structure in the rear totaling 3,091 square feet (an average 618 square foot per unit). On average, the ground floor tenants are paying $3.08/ SF per month (or $5,122.00 monthly) on gross leases. The ground floor tenants are on short-term leases, with an average remaining lease term of 0.24 years, with the longest lease expiring on 4/30/2025. The second floor is made up of five (5) office units, of which only one unit is occupied on a month-to-month basis. The office units average 438 square feet per unit. The building brings in a total of $6,533.00 monthly, or $3.01/SF, gross. Because of its short-term tenancy and strategic location, this mixed-use asset is a promising value-add investment or owner-user opportunity. A value-add investor will have the ability to reposition a majority of the units immediately, and an owner-user has the flexibility to occupy the entire building, or just the first or second floor. The subject property benefits from excellent visibility and frontage, ideally located one parcel west of the NW signalized corner of Corbin Ave & Ventura Blvd, with approximately 50 feet of linear frontage along Ventura Boulevard. The property is served by 8 surface parking spaces, a parking ratio of 1.38 spaces per 1,000 SF, accessible via an alley in the rear.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$530 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

C1

APN/PARCEL ID

2164-012-003

ASK ABOUT THIS PROPERTY

Brandon MichaelsThe Brandon Michaels GroupMore Info
818-212-2794

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Brandon MichaelsThe Brandon Michaels GroupMore Info
818-212-2794

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.