Investment Overview

Marcus & Millichap has been selected to exclusively market for sale The Victory Vineland Center located at 11005 Victory Boulevard, a 4,669 square foot four (4) tenant value-add “L” shaped strip center. The property is situated on 0.24 acres of land (10,412) ideally located on the NW signalized corner of Victory Boulevard and Vineland Avenue directly in front of a Target anchored shopping center in the East San Fernando Valley submarket of North Hollywood, CA. Built in 1976 and being offered for sale by the original developer, 11005 Victory Boulevard is 100% occupied by internet resistant restaurants Popeyes Chicken (formerly Pioneer Chicken), MIS Burritos Mexican Food, Phoenix Grill Express, and Foster’s Donuts. The four (4) units average 1,169 SF with bay depths of approximately 35 feet, making them ideal retail spaces. The tenants have a long-term track record of success at this location, with 84% of the tenants being either original tenants or having been in the center over 20 years. With the exception of Popeyes Chicken, which recently extended their lease until February 28, 2029, which includes one additional option to extend until February 28, 2034, the balance of the tenants have short term leases with no options to extend. The current monthly rent of $12,700.00 ($2.69/SF) is below market rents, creating an ideal opportunity for an astute value-add investor to raise existing rents to current market levels. The Victory Vineland Center is located at the northwest signalized corner of Victory Boulevard and Vineland Avenue in North Hollywood, CA. The property enjoys excellent visibility with approximately 105’ and 100’ feet of frontage along Victory Boulevard and Vineland Avenue, respectively. Because of its signalized corner location, traffic counts exceed 58,000 vehicles per day with multiple points of egress/ingress along both Victory Boulevard and Vineland Avenue providing access to the property’s eleven (11) surface parking spaces (a ratio of 2.36 spaces per 1,000 SF). The Property sits directly adjacent to a Target Anchored Retail Center just north. The strong intersection also host other major retailers like CVS Pharmacy, 7-Eleven, Chevron, and McDonalds. Being at the heart of such a bustling and dense area ensures that the tenants benefit from a constant flow of potential customers, fostering growth and sustainability. Moreover, the presence at this strategic junction enhances convenience for local residents, employees, and visitors, solidifying its position in the marketplace.