Skip to main content

Shopping Strip

Parthenia Plaza

16904 Parthenia St, Northridge, CA 91343

Listing Price: $4,500,000

Cap Rate
6.74%
Gross SF
17,800
Rentable SF
17,800
Price/Gross SF
$252.81
Lot Size
2.27 acres
Year Built
1963

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale Parthenia Plaza, 20,576 square feet shopping center situated on 2.45 acres of land (106,726 square feet) in the high-end and affluent West San Fernando Valley submarket of Northridge, CA. The center is comprised of three separate parcels and part of a larger center that commands the Southeast signalized corner of Parthenia Street and Balboa Boulevard. Buyers will have the option to purchase the center as a whole or purchase the McDonald’s and the in-line shops separately. Parthenia Plaza consists of nine in-line shops located at 16904 & 16950 Parthenia Street and the McDonald’s located at 19608 Parthenia Street. The center is currently 95% occupied. The in-line portion of the center is a total of 17,800 square feet situated on 99,077 square feet of land. The in-line space is home to a seasoned tenant mix that has performed well through the Covid pandemic, with rents averaging $1.73 per SF plus NNN. McDonald’s has been a long-term tenant at this site, having successfully operating at this location for fifty-nine years since 1962. The site has been complete remodeled as per McDonald’s specifications, further showing their commitment to this location. McDonald’s has an absolute NNN ground lease that is guaranteed by McDonald’s Corporation (NYSE: MCD) which expires on 9/4/2038 with 4-five-year options. The subject property is 2,776 square feet situated on 7,649 square feet of land. The site includes a pole sign along Parthenia Street that is 30-feet in height which provides excellent visibility both Westbound and Eastbound along Parthenia Street. McDonald’s operates daily between the hours of 5:00 AM until 1:00 AM and the site allows for ingress and egress from two access points along Parthenia Street. McDonald’s has 12-15% rent increases every five years and 15-18% rent increases in each option period. McDonald’s Corporation offers investment grade credit with a Standard & Poor’s A Rating and a Moody’s Rating of A2. McDonald’s is the world’s largest chain of hamburger and fast-food restaurants, serving north of 68 million customers daily in 120 countries across more than 37,000 locations. Annual revenues exceed $21 billion with profits in excess of $6 billion. McDonald’s is the world's second largest private employer with 1.9 million employees.

Investment Highlights

  • UNIQUE OPPORTUNITY TO ACQUIRE A MCDONALD'S ANCHORED SHOPPING CENTER OR A SINGLE TENANT MCDONALD'S AND PRIME IN-LINE RETAIL SPACE IN AN EXCELLENT WEST SAN FERNANDO VALLEY LOCATION
  • IDEALLY LOCATED PROXIMATE TO A NUMBER OF RETAIL AMENITIES AND RESTAURANTS
  • STRONG IMMEDIATE DEMOGRAPHICS

Exclusively Listed By

Listing Price: $4,500,000

Cap Rate
6.74%
Gross SF
17,800
Rentable SF
17,800
Price/Gross SF
$252.81
Lot Size
2.27 acres
Year Built
1963

Investment Highlights

  • UNIQUE OPPORTUNITY TO ACQUIRE A MCDONALD'S ANCHORED SHOPPING CENTER OR A SINGLE TENANT MCDONALD'S AND PRIME IN-LINE RETAIL SPACE IN AN EXCELLENT WEST SAN FERNANDO VALLEY LOCATION
  • IDEALLY LOCATED PROXIMATE TO A NUMBER OF RETAIL AMENITIES AND RESTAURANTS
  • STRONG IMMEDIATE DEMOGRAPHICS

Investment Overview

Marcus & Millichap has been selected to exclusively represent for sale Parthenia Plaza, 20,576 square feet shopping center situated on 2.45 acres of land (106,726 square feet) in the high-end and affluent West San Fernando Valley submarket of Northridge, CA. The center is comprised of three separate parcels and part of a larger center that commands the Southeast signalized corner of Parthenia Street and Balboa Boulevard. Buyers will have the option to purchase the center as a whole or purchase the McDonald’s and the in-line shops separately. Parthenia Plaza consists of nine in-line shops located at 16904 & 16950 Parthenia Street and the McDonald’s located at 19608 Parthenia Street. The center is currently 95% occupied. The in-line portion of the center is a total of 17,800 square feet situated on 99,077 square feet of land. The in-line space is home to a seasoned tenant mix that has performed well through the Covid pandemic, with rents averaging $1.73 per SF plus NNN. McDonald’s has been a long-term tenant at this site, having successfully operating at this location for fifty-nine years since 1962. The site has been complete remodeled as per McDonald’s specifications, further showing their commitment to this location. McDonald’s has an absolute NNN ground lease that is guaranteed by McDonald’s Corporation (NYSE: MCD) which expires on 9/4/2038 with 4-five-year options. The subject property is 2,776 square feet situated on 7,649 square feet of land. The site includes a pole sign along Parthenia Street that is 30-feet in height which provides excellent visibility both Westbound and Eastbound along Parthenia Street. McDonald’s operates daily between the hours of 5:00 AM until 1:00 AM and the site allows for ingress and egress from two access points along Parthenia Street. McDonald’s has 12-15% rent increases every five years and 15-18% rent increases in each option period. McDonald’s Corporation offers investment grade credit with a Standard & Poor’s A Rating and a Moody’s Rating of A2. McDonald’s is the world’s largest chain of hamburger and fast-food restaurants, serving north of 68 million customers daily in 120 countries across more than 37,000 locations. Annual revenues exceed $21 billion with profits in excess of $6 billion. McDonald’s is the world's second largest private employer with 1.9 million employees.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower