22836-22840
PRICE
BUILDING SIZE
WOODLAND HILLS, CA 91364
$3,100,000
4,900 SF
LOT SIZE
10,329 SF
PROFORMA
CAP RATE
PRICE/SF (BLDG)
PRICE/SF (LOT)
5.79%
$633
$300
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 22836-22840 Ventura Boulevard, a 4,900 square foot multitenant retail asset situated on 0.24 acres of land (10,329 SF), ideally located along Ventura Boulevard, the San Fernando Valley’s most prominent commercial corridor, in Woodland Hills, CA.
22836-22840 Ventura Boulevard will be delivered 76.5% occupied by two tenants on month-to-month leases. This creates an immediate owner-user or value-add opportunity. A value-add investor will have the ability to reposition the property with market rate paying tenants. An owner-user buyer can occupy a portion or all of the property for their own business use.
The front and rear units are divided by a gate secured yard/parking area, which can serve as additional storage or parking, accessible via the adjacent Rigoletto Street. The property is zoned C4 in the Ventura/Cahuenga Boulevard Corridor Specific Plan which allows for a variety of potential uses with a flexible building layout that can accommodate a variety of uses.
The occupied units are paying a combined $11,300.00 per month ($3.01/SF) or $135,600.00 per year, on modified gross leases. Along the property’s frontage is a double-sided billboard for additional income. While the structure is owned by CBS Outdoor, they are on a lease which is set to expire 1/31/2027 paying $325..00 per month