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18512-18516 SHERMAN WAY

PRICE

RESEDA, CA 91335

$1,250,000

YEAR BUILT

1923

BUILDING SIZE

2,964 SF

PRICE/SF (BLDG)

$422

LOT SIZE

7,499 SF

PRICE/SF (LAND)

$167

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is Pleased to Present 18512-18516 Sherman Way, A 2,964 Square Foot Multi-Tenant Street Retail with Parking in the rear Situated on 7,499 SF (.17 Acre) of Land Zoned C2 in Reseda, CA.  The Property is Currently 50% Occupied, with the Remaining Tenants on Short Term or Month to Month Leases, Creating a Unique Value-Add or Owner-User Opportunity.  Due to the Property's Proximity to Transit, AB2097 Allows for a Multitude of Potential Uses, Including Restaurant and Medical.

18512-18516 Sherman Way is ideally located just two parcels West of the SW signalized corner of Reseda Boulevard and Sherman Way.  The subject property is currently 50% occupied. All existing leases are NNN.  The season tenant mix benefits from parking in the rear of the property as well as large public parking lots on both the North and South side of Sherman Way.  Customers and tenants have access to the free public parking lot, allowing tenants to prosper at this location. Due to the property’s proximity to transit, AB 2097 allows for a multitude of potential uses, including restaurant and medical.

18512-18516 Sherman Way benefits from excellent foot traffic in the immediate area and high daily traffic counts with over 32,000 vehicles passing through the intersection of Sherman Way and Reseda Boulevard daily. There are multiple national retailers in the immediate area, including CVS, Carl’s Jr., 7-Eleven, Starbucks, Walgreens, WSS, Food 4 Less, and more. The subject property benefits from unprecedented visibility and frontage on Sherman Way, a major thoroughfare through San Fernando Valley. 

Reseda is a neighborhood in the west San Fernando Valley region of Los Angeles, California. Reseda benefits from a dense immediate population of approximately 613,105 people within a five-mile radius, and an average household income north of $99,616 within a five-mile radius. Rents in the Western San Fernando Valley submarket have seen increased close to 15% over the past 5 years, outpacing average growth throughout Los Angeles.

OFFERING MEMORANDUM

BRANDON MICHAELS
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

MATTHEW LUCHS

(818) 212-2727

matthew.luchs@marcusmillichap.com
License # 01948233

STEVEN SCHECHTER

(818) 212-2793

steven.schechter@marcusmillichap.com
License # 01089464

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