T-Mobile Storefront Retail

Listing was updated at: 12/10/2019
Property Overview
Price/Rent PSF $ 5,995,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 13,037
Date Available 12/10/2019
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Description

Location
Located in the busiest intersection of Van Nuys.

Sale
6371-6377 Van Nuys Boulevard consists of 2 contiguous lots with a total of 12,420 lot SF located on one of the busiest signalized corners in the San Fernando Valley. The total building consists of approximately 13,037 SF with a total of 6 Tenants including T-Mobile's top producing flagship store as the anchor tenant and a fitness center as the largest tenant on a 10 year lease. At 81% occupancy (2,373 SF vacant), the going-in CAP rate is 5.62% with additional upside potential by vacancy absorption at market rent of $1.95/SF NNN. This property offers an ideal owner/user retail location or investment opportunity for a savvy Investor to re-lease the vacant units with an estimated pro forma CAP rate of 6.5%. Additionally, the subject property is situated in the Van Nuys Enterprise Zone and offers numerous business incentives for operators which also includes parking access at a nearby adjacent city parking lot.

Location