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Shopping Strip

13310-13328 Burbank Blvd

13310 Burbank Blvd, Los Angeles, CA 91401

Listing Price: $4,655,000

Cap Rate
4.26%
Gross SF
8,525
Rentable SF
8,525
Price/Gross SF
$546.04
Lot Size
0.36 acres
Year Built
1962

Investment Overview

Marcus & Millichap is pleased to present 13310 Burbank Blvd, a multi-tenant Retail strip center property located in the affluent neighborhood of Sherman Oaks. The subject property is located one parcel west of the highly trafficked, signalized intersection of Burbank Boulevard and Fulton Avenue. The property enjoys approximately 190 feet of visible frontage along Burbank Blvd, which sees over 66,000 vehicles per day. The building sits on an approximate 0.36-acre [Q]C2-1VL zoned parcel which provides for 18 on-site parking spaces, a parking ratio of 2.11 parking spaces per 1,000 square feet. The property is in a Tier 3 Transit Oriented Communities (TOC) zone, providing the opportunity for possible development in the future. The property is currently 100% occupied by eight tenants – major tenants include Kluckin’ Chicken (franchise), Fade LA Barbershop, and USA Donuts. Five out of the eight tenants have month-to-month leases, and three tenants have long term, NNN leases. Two of the three long term leases have landlord right to terminate clauses allowing the buyer to either occupy or reposition a majority of the building if desired. An investor can immediately realize the upside by bringing the rents to market rates and converting all of the leases to triple-net (NNN). All tenants are strong and have continued to pay rent during the COVID-19 Pandemic. 13310 Burbank Blvd is perfectly positioned across from Los Angeles Valley College, Ulysses S. Grant High School, and the Orange Line Busway providing an abundance of foot traffic in the area. All of the existing leases in place are short term or month to month making this an excellent opportunity for either an owner-user Buyer looking to occupy a portion or all of the building, or value-add investor looking for a value-add opportunity in a prime Sherman Oaks location.

Investment Highlights

  • 100% occupied; 8-tenant retail center - First time on the market!
  • Great Location - Across from Los Angeles Valley College and Ulysses S. Grant High School which has over 19,000 students in attendance
  • High Traffic Counts - Over 66,000 vehicles per day
  • Approximately 190 feet of frontage on Burbank Blvd.
  • All leases in place are month to month or short term in nature, with no lease extending beyond 2024
  • Leases with landlord right to terminate after sale – perfect for a buyer who wants to occupy one or more of the spaces
  • Dense infill location with 312,204 residents in a 3-mile radius
  • Surrounded by affluent communities - The current year's average household income in the area is $104,414, compared with the U.S. average, which is $90,941.

Exclusively Listed By

Financing By

Shopping Strip

13310-13328 Burbank Blvd

Listing Price: $4,655,000

Cap Rate
4.26%
Gross SF
8,525
Rentable SF
8,525
Price/Gross SF
$546.04
Lot Size
0.36 acres
Year Built
1962

Investment Highlights

  • 100% occupied; 8-tenant retail center - First time on the market!
  • Great Location - Across from Los Angeles Valley College and Ulysses S. Grant High School which has over 19,000 students in attendance
  • High Traffic Counts - Over 66,000 vehicles per day
  • Approximately 190 feet of frontage on Burbank Blvd.
  • All leases in place are month to month or short term in nature, with no lease extending beyond 2024
  • Leases with landlord right to terminate after sale – perfect for a buyer who wants to occupy one or more of the spaces
  • Dense infill location with 312,204 residents in a 3-mile radius
  • Surrounded by affluent communities - The current year's average household income in the area is $104,414, compared with the U.S. average, which is $90,941.

Investment Overview

Marcus & Millichap is pleased to present 13310 Burbank Blvd, a multi-tenant Retail strip center property located in the affluent neighborhood of Sherman Oaks. The subject property is located one parcel west of the highly trafficked, signalized intersection of Burbank Boulevard and Fulton Avenue. The property enjoys approximately 190 feet of visible frontage along Burbank Blvd, which sees over 66,000 vehicles per day. The building sits on an approximate 0.36-acre [Q]C2-1VL zoned parcel which provides for 18 on-site parking spaces, a parking ratio of 2.11 parking spaces per 1,000 square feet. The property is in a Tier 3 Transit Oriented Communities (TOC) zone, providing the opportunity for possible development in the future. The property is currently 100% occupied by eight tenants – major tenants include Kluckin’ Chicken (franchise), Fade LA Barbershop, and USA Donuts. Five out of the eight tenants have month-to-month leases, and three tenants have long term, NNN leases. Two of the three long term leases have landlord right to terminate clauses allowing the buyer to either occupy or reposition a majority of the building if desired. An investor can immediately realize the upside by bringing the rents to market rates and converting all of the leases to triple-net (NNN). All tenants are strong and have continued to pay rent during the COVID-19 Pandemic. 13310 Burbank Blvd is perfectly positioned across from Los Angeles Valley College, Ulysses S. Grant High School, and the Orange Line Busway providing an abundance of foot traffic in the area. All of the existing leases in place are short term or month to month making this an excellent opportunity for either an owner-user Buyer looking to occupy a portion or all of the building, or value-add investor looking for a value-add opportunity in a prime Sherman Oaks location.

Exclusively Listed By

Financing By

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