Investment Overview

Marcus & Millichap, as Exclusive Advisor, is pleased to present 6424 Van Nuys Boulevard, a 9,410 square foot Skechers-anchored multi-tenant retail property situated on 0.32 acres of land (14,004 SF) located on the SE signalized corner of Van Nuys Boulevard and Gilmore Street, one block north of Victory Boulevard, in the densely populated East San Fernando Valley submarket of Van Nuys, CA. 6424 Van Nuys Blvd is a two-tenant retail property currently 100% occupied by Skechers and I Love You Brunch, an authentic Mexican cuisine restaurant. Skechers, a globally recognized footwear and apparel brand founded in 1992 and headquartered in Manhattan Beach, California, is publicly traded on the New York Stock Exchange under the ticker symbol SKX. Originally focused on casual footwear, Skechers has since expanded its offerings to include athletic, performance, and work shoes, along with apparel and accessories. Known for its diverse product range and innovation in comfort technology, Skechers has shown strong investment performance reaching a record annual sales of $8 billion in 2023 from is combined 5,267 stores worldwide. Skechers recently exercised their five (5) year option extending their term through January 2030, showing their confidence in the location and surrounding area. The tenant occupies a 7,910 square foot street front unit with an additional 1,200 square foot mezzanine, paying $15,732.00/month or $1.99/SF on a modified NNN basis. The lease has a corporate guarantee in place. I Love You Brunch, formerly Grain Café, occupies a freestanding 1,500 square foot restaurant on a lease through October 2031. I Love You Brunch pays $2,600.00/month or $1.73/SF on a NNN lease with annual rent increases of 3% or 10% of gross sales, whichever is greater. Together the property yields $18,332.00/month or $1.95/SF. The subject property benefits from outstanding visibility at the SE signalized corner of Van Nuys Boulevard and Gilmore Street with approximately 70 feet and 200 feet of frontage, respectively. Van Nuys Boulevard is the primary north-south commercial corridor with traffic counts in excess of 36,000 vehicles per day. The property benefits from eleven (11) parking spaces, a parking ratio of 1.17 spaces per 1,000 SF, accessible via Gilmore Street.