Rare NE Heights Retail Pad

Listing was updated at: 03/25/2020
Property Overview
Price/Rent PSF $ 995,000.00
Asset Type Retail
Trade Type Sale & Lease
SQ. FT. Available 2,424
Date Available 03/25/2020
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Description

Location
The property is located in the SWQ Wyoming Blvd and Montgomery Blvd, directly south of the La Mirada Shopping Center. This far NE Heights site features over 36,000 cars per day on Wyoming and joins a dense retail corridor as it approaches the Montgomery intersection. The Far NE Heights has seen little new construction and decreasing vacancy over the past few quarters, making opportunities like this more and more valuable near the high trafficked Montgomery/Wyoming intersection.

Sale
This rare NE Heights retail pad has come on the market at a time when few opportunities currently exist. The NE Heights overall features just 11% vacancy; one of the lowest in the city. Finding pad sites for new retail development is even more difficult with a mature market and having to assemble multiple parcels in order to accumulate the desired size for the majority of retailers. 4201 Montgomery is a former bank building that sits on 0.83 acres and is zoned MX-L. Owner has the ability to deliver with a variance to allow for Drive-Thru pending city approval. With the option to purchase, lease, ground lease or build-to-suit this site, the options are open for national and local retailers to take advantage of this exclusive opportunity in a desirable submarket.

Lease
This rare NE Heights retail pad has come on the market at a time when few opportunities currently exist. The NE Heights overall features just 11% vacancy; one of the lowest in the city. Finding pad sites for new retail development is even more difficult with a mature market and having to assemble multiple parcels in order to accumulate the desired size for the majority of retailers. 4201 Montgomery is a former bank building that sits on 0.83 acres and is zoned MX-L. Owner has the ability to deliver with a variance to allow for Drive-Thru pending city approval. With the option to purchase, lease, ground lease or build-to-suit this site, the options are open for national and local retailers to take advantage of this exclusive opportunity in a desirable submarket.

Location