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Property Overview

Price/Rent PSF $ 7,500,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 30,300
Date Available 11/06/2019
Additional URL Link
Parking 100
Floors 2
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Description

Location
The city of Pacoima, deemed the oldest neighborhood in the northern San Fernando Valley is bordered by Mission Hills on the west, Arleta on the south, Sun Valley on the southwest, Lake View Terrace on the northnest and by the city of San Fernando on the north. The property is ideally situated near several arterial highways including the 5, 118, 210, 405, and 170 highway connections that provides direct access to all corners of Los Angeles County. The property offers significant amount of frontage on the highly trafficked Van Nuys Boulevard and is centrally located at the city's downtown district near Pacoima's city hall and public library.

Sale
Located in Pacoima on the highly trafficked Van Nuys Boulevard corridor, the Pacoima Skills Center is predominately operating as a class B retail property with office use permitted given the current C2 zoning. Spanning over 1.15 acres, the center offers Tenants approximately 100 overall surface parking spaces or 3.3/1000 parking ratio. The subject property consists of 30,300 building SF shared between (2) two-story structures and is operating at 75% occupancy with the Los Angeles County Probation Office as the primary tenant alongside The Chrysalis Center, a non profit organization as the second largest Tenant. Property is overall well maintained with minor exterior deferred maintenance. This investment property offers an ideal value-add opportunity to lease up the vacancies and increase rental rates to market rent.

Location

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