12516 vanowen st
PRICE
BUILDING SIZE
NORTH HOLLYWOOD, CA 91605
$2,750,000
7.420 SF
LOT SIZE
16,788 SF
PARKING
OCCUPANCY
YEAR BUILT
18 Spaces
100%
1961
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 12516 Vanowen Street (the “Property”), a 7,420-square-foot, six-suite neighborhood retail building on a 16,788- square-foot parcel at the corner of Vanowen Street and Whitsett Avenue in North Hollywood. The Property is 100% occupied by six local service operators, every one of them on a month-to-month tenancy, at a blended in-place rent of $1.75 per square foot against a $2.74 pro forma and $2.00 to $3.25 asking rents on the same corridor.
The Property is a 7,420-square-foot, single-story multi-tenant retail building constructed in 1961 on a 16,788-square-foot parcel at the southwest corner of Vanowen Street and Whitsett Avenue. The building is set back from the street behind a surface parking field of 18 spaces, with six storefront suites facing the lot and monument signage opportunity at the Vanowen frontage.
That configuration has kept the building 100% occupied through the vintage of the improvements and through every capital-market cycle since, and it is the same configuration that lets an investor turn one suite at a time or an owner-user take one, three or all six.
The suite plan is the operating advantage. Six independent spaces of 1,050 to 1,470 square feet, each with its own entrance and storefront, match the demand profile of he corridor: food, beauty, laundry, pet services and daily-needs retail operated by local owners who sign for their own space.