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Office

16115 -16119 Vanowen St

16119 Vanowen St, Van Nuys, CA 91406

Listing Price: $4,075,000

Cap Rate
2.41%
Gross SF
8,400
Rentable SF
8,400
Price/Gross SF
$485.12
Lot Size
0.57 acres
Year Built
1972

Investment Overview

Marcus & Millichap is pleased to present 16115-16119 Vanowen St, a rare 8,400 SF freestanding medical office building situated on the corner of Vanowen St and Woodley Ave in Van Nuys. Originally built in 1972, the building was renovated in 2018 and sits on a ([Q]C2-1VL-CDO (Tier 3) zoned 0.57-acre parcel. There are 34 on-site parking spaces as well as ample street parking, with multiple public transportation options in the immediate vicinity. The building is perfectly positioned for a medical owner/user to take immediate occupancy, as the entire property can be delivered vacant at the close of escrow (not sure if we should disclose doctor’s will be doing a short-term sale-leaseback). The remaining portion of the property consists of a professional office space of about 4,000 SF, currently occupied by a church group on a M-T-M basis, allowing for further flexibility and repositioning. 16115-16119 Vanowen Street sits on a 25,000 SF of lot, lending itself to a wide variety of redevelopment uses. By right, this site allows for 62 potential units and up to as many as 86 units with TOC bonus. Please reach out to the agents involved for more information regarding redevelopment potential. The asset is nestled in the heart of the San Fernando Valley with immediate access to the 405, 101, and 118 Freeways. The subject property sits directly adjacent to Van Nuys Airport, which will soon become the only private airport in the immediate vicinity with Santa Monica Airport closing its doors. quickly become the hottest area in the San Fernando Valley. This rare opportunity is perfectly positioned for a doctor to take advantage of historically low SBA interest rates & the ability to put as little as 10% down and immediately occupy the back medical office of the building (contact the Listing Agent for a debt quote). Additional rental income can be generated from the current tenant or a new one, allowing an owner/user to further reduce their cost of occupancy. Alternatively, a developer has the ability to immediately reposition both of the vacant units at market rent and enjoy an investment in one of the most stable markets in Los Angeles.

Investment Highlights

  • Rare Medical Office Building on Vanowen St in Van Nuys, with Billboard Frontage
  • Historically Low Interest Rates for SBA with 10% Down (3.75-4.00%)
  • High Traffic Count - Over 30,000+ Vehicles Per Day

Exclusively Listed By

Financing By

Office

16115 -16119 Vanowen St

Listing Price: $4,075,000

Cap Rate
2.41%
Gross SF
8,400
Rentable SF
8,400
Price/Gross SF
$485.12
Lot Size
0.57 acres
Year Built
1972

Investment Highlights

  • Rare Medical Office Building on Vanowen St in Van Nuys, with Billboard Frontage
  • Historically Low Interest Rates for SBA with 10% Down (3.75-4.00%)
  • High Traffic Count - Over 30,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present 16115-16119 Vanowen St, a rare 8,400 SF freestanding medical office building situated on the corner of Vanowen St and Woodley Ave in Van Nuys. Originally built in 1972, the building was renovated in 2018 and sits on a ([Q]C2-1VL-CDO (Tier 3) zoned 0.57-acre parcel. There are 34 on-site parking spaces as well as ample street parking, with multiple public transportation options in the immediate vicinity. The building is perfectly positioned for a medical owner/user to take immediate occupancy, as the entire property can be delivered vacant at the close of escrow (not sure if we should disclose doctor’s will be doing a short-term sale-leaseback). The remaining portion of the property consists of a professional office space of about 4,000 SF, currently occupied by a church group on a M-T-M basis, allowing for further flexibility and repositioning. 16115-16119 Vanowen Street sits on a 25,000 SF of lot, lending itself to a wide variety of redevelopment uses. By right, this site allows for 62 potential units and up to as many as 86 units with TOC bonus. Please reach out to the agents involved for more information regarding redevelopment potential. The asset is nestled in the heart of the San Fernando Valley with immediate access to the 405, 101, and 118 Freeways. The subject property sits directly adjacent to Van Nuys Airport, which will soon become the only private airport in the immediate vicinity with Santa Monica Airport closing its doors. quickly become the hottest area in the San Fernando Valley. This rare opportunity is perfectly positioned for a doctor to take advantage of historically low SBA interest rates & the ability to put as little as 10% down and immediately occupy the back medical office of the building (contact the Listing Agent for a debt quote). Additional rental income can be generated from the current tenant or a new one, allowing an owner/user to further reduce their cost of occupancy. Alternatively, a developer has the ability to immediately reposition both of the vacant units at market rent and enjoy an investment in one of the most stable markets in Los Angeles.

Exclusively Listed By

Financing By

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