28941-29001 canwood st
PRICE
BUILDING SIZE
AGOURA HILLS, CA 91301
$16,300,000
15,000 SF
LOT SIZE
2.16 ACRES
CAP RATE
PRICE/SF (BLDG)
PRICE/SF (LOT)
4.42%
$1,087
$410
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 28941-29001 Canwood Street, a 15,000 square foot Trader Joe’s anchored retail center situated on 2.16 acres (94,072 SF) of land ideally positioned along the Interstate 101 Ventura Freeway, with excellent freeway visibility and frontage and daily traffic counts north of 162,000 vehicles per day in the affluent Los Angeles County submarket of Agoura Hills, CA.
Trader Joe’s, founded in 1958, has 569 locations throughout the United States. The privately held company employs more than 50,000 employees and is headquartered in Monrovia, CA. Annual revenues exceed $16.9 billion. It is among America’s best employers, as well as America’s best employers for women. The eclectic and retail-fan-favorite Trader Joe’s is well-known to its loyalists for low prices on unique food items, ranging from cookie butter to salsas, cheeses and ready-to-eat packaged meals.
This location has a history of strong performance, ideally catering to the direct needs of the surrounding residents in the affluent immediate trade area which includes Westlake Village to the West, Calabasas to the East, and Malibu to the South, with average household incomes exceeding $172,000. The property had a full exterior remodel in 2023.
29001 Canwood Street, formerly the beloved Jinky’s Café, has been repositioned with a highly anticipated new restaurant. The new tenant will pay $12,500 per month ($5.00/SF) or $150,000 per year on a NNN lease. Their lease starts 5/1/2025 with annual three percent (3%) rent increases through the duration of their ten (10) year lease. The tenant will have two (2) consecutive five (5) year options to extend their lease. Most importantly, the future income stream is secured by the tenant’s excellent credit, a floating personal guarantee six (6) months from default with a $20 million net worth.