18816-18824 Ventura Blvd, Tarzana, CA 91356, USA On Market Print this page

$3,085,000 

Fully Occupied Retail Strip Center

18816-18824 Ventura Blvd, Tarzana, CA 91356, USA

Price $3,085,000 Occupancy 100%
Gross Leasable Area 4,598 SF No. Stories 1
Price/SF $670.94 Tenancy Multiple
Property Type Retail Year Built 1962
Property Sub-type Strip Center Lot Size 10,531 SF
Property Use Type Net Lease Investment with 5 years left on lease APN / Parcel ID 2161-003-012
Cap Rate 4.50%

Highlights

  • 100% Leased- Synergistic mix of tenants including restaurant, retail and service retail
  • All tenants are on triple-net leases and have embedded rental increases acting as a hedge against potential future inflation
  • Small, Scalable Tenant Suites- The efficient size of the units are conducive to high occupancy, low TI’ s and strong rents.
  • Improving Return-as below market rents for the Billboard adjust on the Billboard in year 2018 net operating income is projected to grow by 14%
  • Multi-Tenant Income Stability -the property provides income diversity from 4 tenants
  • All tenants have scheduled rental increase enhancing future cash-on-cash returns

Description

Hudson Partners Inc has been exclusively retained to present the sale of 18816 Ventura Blvd. The subject property is a 4,598 square foot neighborhood retail strip center situated on approximately 10,531 SF of land in a dense and established community of Tarzana. The property is prominently located near the intersection of Ventura Blvd and Burbank Blvd with excellent street frontage, signage and visibility along Ventura Blvd. The property is currently 100% occupied by a diverse mix of regional tenants which cater to the local neighborhood. Furthermore, the center has a long term historical occupancy. This occupancy level provides investor stability in cash flow and is evidence of the real strength of the surrounding area. The center features embedded rental increases from multiple tenants, acting as a hedge against potential future inflation. The investment offers ease of management with all tenants on triple-net leases. Furthermore value can be realized as the below market rent for the Billboard lease expires in 2018 and resets to current economic rent.

Prime Tarzana location on Ventura Boulevard, adjacent to numerous national retailers such as Whole Foods, TJ-Max CPK, Chipotle and Starbucks. Strong area demographics. Furthermore The center also benefits from multiple points of ingress and egress and offers tenants and customers ample parking.

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