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Vacant-User

2700 N Broadway

2700 N Broadway, Los Angeles, CA 90031

Listing Price: $2,950,000

Gross SF
22,000
Rentable SF
22,000
Price/Gross SF
$134.09
Lot Size
0.24 acres
Year Built
1911

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2700 N. Broadway, a 22,000 square foot retail building with its original bow truss and brick located on the SE signalized corner of N. Broadway and Workman Street directly off the Interstate 5 Freeway in the gentrifying Los Angeles sub-market of Lincoln Heights. The subject property is situated on 10,640 square feet of land zoned [Q]C4-1XL-CDO and is located within an Opportunity Zone and a Tier 3 TOC.
2700 N. Broadway is currently 100% vacant, creating a unique opportunity for a value-add investor or an owner-user Buyer. The subject property consists of 10,660 square feet of ground floor space with expansive 19 foot ceilings, and a 10,660 square foot basement. There is also a 6,500 square foot fully built out mezzanine. The subject property benefits from excellent visibility and frontage, with 68 feet of linear frontage along N. Broadway and frontage on Workman Street with loading capability and is located in a Walker’s Paradise, with a walk score of 93. The site is surrounded by good transit, with a transit score of 55, and ideally positioned along N. Broadway directly off the Interstate 5 freeway with direct freeway access. This excellent signalized corner location benefits from daily traffic counts exceeding 36,000 vehicles per day. There are over 200 public parking spaces within one block of the subject property.
Lincoln Heights is centrally located, directly adjacent to Downtown Los Angeles, Northeast Los Angeles, and the Eastside. Lincoln Heights is slated for growth, as development takes shape in and around the immediate sub-market. Sitting just a mile and a half from Downtown Los Angeles, N. Broadway is a highly walkable commercial district that has seen an infusion of new hip and trendy tenants including the Airliner, The Heights Deli & Bottle Shop, Tierra Mia Coffee, Lincoln Kitchen, Tap, and the Lincoln Heights Farmers’ Market. Recently, a mix of one-story homes and small commercial buildings was demolished to make way for Barranca Studios, a six-story, block-long complex. It will consist of 100 apartments, ranging from one to three bedrooms, and 100 micro apartments.?Bread Lounge, an Arts District bakery, will open a shop to serve tenants and other Lincoln Heights residents. Alta Lofts?opened about a decade ago with more than 100 condos. Across San Fernando Road, 81 more apartments are under construction at?San Fernando Studios.? Additional developments are on the way, as developers want to turn the old?Lincoln Heights Jail on Avenue 19 into a?sprawling residential and commercial complex. The city is planning to build a sprawling?Clean Water Campus?to house hundreds of employees on what is now a parking lot on San Fernando Road.?
2700 N. Broadway benefits from a dense immediate population, with over 30,000 people within one mile, over 327,000 people within three miles, and over 985,000 people within five miles. There are over 8,500 households within one mile and over 323,000 households within five miles. Average household income is north of $66,000 within one mile, over $80,000 within three miles, and over $82,000 within five miles, and a median household income of $47,734 within one mile. The median home value is $674,652 within one mile.

Investment Highlights

  • 22,000 SQUARE FOOT RETAIL BUILDING WITH DIRECT FREEWAY ACCESS
  • EXCELLENT LINCOLN HEIGHTS SIGNALIZED CORNER LOCATION
  • GENTRIFYING SUB-MARKET WITH SIGNIFICANT DEVELOPMENT IN THE IMMEDIATE AREA
  • CENTRALIZED LOS ANGELES LOCATION WITH DENSE IMMEDIATE POPULATION

Exclusively Listed By

Financing By

Vacant-User

2700 N Broadway

Listing Price: $2,950,000

Gross SF
22,000
Rentable SF
22,000
Price/Gross SF
$134.09
Lot Size
0.24 acres
Year Built
1911

Investment Highlights

  • 22,000 SQUARE FOOT RETAIL BUILDING WITH DIRECT FREEWAY ACCESS
  • EXCELLENT LINCOLN HEIGHTS SIGNALIZED CORNER LOCATION
  • GENTRIFYING SUB-MARKET WITH SIGNIFICANT DEVELOPMENT IN THE IMMEDIATE AREA
  • CENTRALIZED LOS ANGELES LOCATION WITH DENSE IMMEDIATE POPULATION

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2700 N. Broadway, a 22,000 square foot retail building with its original bow truss and brick located on the SE signalized corner of N. Broadway and Workman Street directly off the Interstate 5 Freeway in the gentrifying Los Angeles sub-market of Lincoln Heights. The subject property is situated on 10,640 square feet of land zoned [Q]C4-1XL-CDO and is located within an Opportunity Zone and a Tier 3 TOC. 2700 N. Broadway is currently 100% vacant, creating a unique opportunity for a value-add investor or an owner-user Buyer. The subject property consists of 10,660 square feet of ground floor space with expansive 19 foot ceilings, and a 10,660 square foot basement. There is also a 6,500 square foot fully built out mezzanine. The subject property benefits from excellent visibility and frontage, with 68 feet of linear frontage along N. Broadway and frontage on Workman Street with loading capability and is located in a Walker’s Paradise, with a walk score of 93. The site is surrounded by good transit, with a transit score of 55, and ideally positioned along N. Broadway directly off the Interstate 5 freeway with direct freeway access. This excellent signalized corner location benefits from daily traffic counts exceeding 36,000 vehicles per day. There are over 200 public parking spaces within one block of the subject property. Lincoln Heights is centrally located, directly adjacent to Downtown Los Angeles, Northeast Los Angeles, and the Eastside. Lincoln Heights is slated for growth, as development takes shape in and around the immediate sub-market. Sitting just a mile and a half from Downtown Los Angeles, N. Broadway is a highly walkable commercial district that has seen an infusion of new hip and trendy tenants including the Airliner, The Heights Deli & Bottle Shop, Tierra Mia Coffee, Lincoln Kitchen, Tap, and the Lincoln Heights Farmers’ Market. Recently, a mix of one-story homes and small commercial buildings was demolished to make way for Barranca Studios, a six-story, block-long complex. It will consist of 100 apartments, ranging from one to three bedrooms, and 100 micro apartments.?Bread Lounge, an Arts District bakery, will open a shop to serve tenants and other Lincoln Heights residents. Alta Lofts?opened about a decade ago with more than 100 condos. Across San Fernando Road, 81 more apartments are under construction at?San Fernando Studios.? Additional developments are on the way, as developers want to turn the old?Lincoln Heights Jail on Avenue 19 into a?sprawling residential and commercial complex. The city is planning to build a sprawling?Clean Water Campus?to house hundreds of employees on what is now a parking lot on San Fernando Road.? 2700 N. Broadway benefits from a dense immediate population, with over 30,000 people within one mile, over 327,000 people within three miles, and over 985,000 people within five miles. There are over 8,500 households within one mile and over 323,000 households within five miles. Average household income is north of $66,000 within one mile, over $80,000 within three miles, and over $82,000 within five miles, and a median household income of $47,734 within one mile. The median home value is $674,652 within one mile.

Exclusively Listed By

Financing By

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