6451-6453 Van Nuys Blvd - Storefront FOR SALE


Van Nuys, CA 91401
$5,495,000 USD
310-996-2238
6451-6453 Van Nuys Blvd, Van Nuys, CA for Sale
$5,495,000 USD
Storefront - FOR SALE
1/12
null | Request Cap Rate

6451-6453 Van Nuys Blvd
Van Nuys, CA 91401


HIGHLIGHTS

  • Banquet Hall Certificate of Occupancy - Free Standing Building + Contiguous Parking Lot Parcel 8,251sf - Ideal for Adult Day Care
  • Short-term and month-to-month leases in places giving the buyer the opportunity to reposition and/or redevelop the center.
  • Seller offering qualified buyers with seller financing - Interest only as low as 7% and up to 80% LTV - Due up to 5 years
  • 4 Parcel Acquistion Opportunity - Property could be sold TOGETHER or SEPARATELY (Banquet Hall/Parking Lot OR Stripcenter Buildings)
  • 32 Parking Stripped Parking Stalls - Allowing Potential Expansion of Banquet Hall Builidng w/Reduced Parking Requirements (2 per 1,000sf - Zoning)
  • Restaurant or Medical Conversion Opportunity - State Enterprise Zone (Commercial Kitchen - Banquet Hall Building)

OVERVIEW

Kidder Mathews is pleased to present for sale a multi-tenant retail center and banquet hall buildings, at the highly trafficked intersection of Van Nuys Blvd and Gilmore St in the epicenter of the San Fernando Valley. The portfolio is comprised of 16,000 square feet spread across three buildings and four different parcels on approximately 28,300 of total square feet of Tier 4 TOC land. The stripcenter properties are contiguous and they are ideal properties for an owner-user looking to occupy a portion, such as a law firm or other uses, who benefit being in proximity to the goverment center/court house. The other batch of parcels are a banquet hall and parking lot, which could be a tremendous opportunity for an Banquet Hall Operator looking to convert existing church use back to the lucurative cash business of hosting events, in this density populated Van Nuys pocket. The banquet hall building is tied by covenant to the adjacent 8,251 square foot parking lot and this pair must be sold together. The strip center buildings must also be sold together as they too are tied by covenant. Any unused square footage could be supplement income stream for a Buyer, along with rental upside with the month-to-month and short-term tenancy. The banquet hall has a Certificate of Occupancy for that use with 140 occupancy limit. Seller is also offering qualified buyers, up to 80% Loan-to-Value and interest only loan payments for up to 5 years.

FOR SALE DETAILS

PRICE

$5,495,000 USD

PRICE/SF

$343 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Banquet Hall & Strip Center Portfolio

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Bar, Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1922

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

C2

APN/PARCEL ID

2236-016-005,2236-016-006,2236-016-018,2236-016-019

ASK ABOUT THIS PROPERTY

Fred AframianKidder MathewsMore Info
310-996-2238

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Fred AframianKidder MathewsMore Info
310-996-2238

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