8628 WOODMAN AVENUE
PRICE
BUILDING SIZE
ARLETA, CA 91331
$4,850,000
9,829 SF
LOT SIZE
30,007 SF
CAP RATE
OCCUPANCY
YEAR BUILT
7.10%
100%
1965
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present Branwood Center, 8628 Woodman Avenue (the “Property”), an eleven-tenant strip center in Arleta, California, offered 100% occupied at a 7.10% capitalization rate. The center has 9,829 square feet of one-story buildings, nine in-line suites and two freestanding pads, on a 30,007-square-foot parcel fronting Woodman Avenue, one parcel north of the signalized Branford Street intersection in the East San Fernando Valley.
All eleven suites are leased to neighborhood-serving tenants, from a drive-through dairy and a hamburger stand to a print shop, a salon and a church. Weighted by square feet, tenancies average 13.5 years: Boris Shoe Repair has operated here since 1981, Alta-Dena Dairy since 1988 and Tip Top Hamburgers since 1996.
Woodman Avenue carries 35,914 vehicles a day past the Property, and Branford Street, one parcel south, carries 13,941 more. Interstate 5 is 1.3 miles away and Kaiser Permanente Panorama City is 0.6 miles south, with 701,220 residents within five miles.
Every tenancy is NNN: all eleven tenants, including the month-to-month suites pro rata, reimburse 100% of operating costs, and the two pads (42.0% of base rent) are leased through 2031 with scheduled 3% increases. At $162 per square foot of land, the offering compares with eight San Fernando Valley center sales that averaged a 5.84% cap rate and $187 per square foot of land.