5060 Venice Blvd pic2
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CLOSED ESCROW

SHOPPING AUTO CENTER

5060 VENICE BOULEVARD

LOS ANGELES, CA 90019

PRICE:

PRICE/SF:

CAP RATE CURRENT/ PRO FORMA:

YEAR BUILT:

LOT SIZE:

$3,750,000

$326

4.66%/8.73%

1964

35,086

DEAL HIGHLIGHTS​:

  • Over 15 Offers

  • Tenant had 1st Right of Refusal

  • Sold $250,000 Above List Price

  • 10 Day Non Contingent All Cash Close

 

ASSET HIGHLIGHTS

  • Large Corner Lot

  • Value-Add

  • High Traffic Counts on Venice Boulevard

  • Signalized Corner of Venice Boulevard and  Redondo Boulevard

  • Down The Street From LAPD Station

  • Bordered by Wilshire's Miracle Mile

THE ASSET

Marcus & Millichap is pleased to present a unique investment opportunity at 5060 Venice Boulevard in Los Angeles, California. The subject property presents a wide-range of development possibilities to the strategic investor. The offering is comprised of 11,508-square feet of retail on 35,086-square feet of land. 

 

Located at the heavily traveled signalized intersection of Venice Boulevard and Redondo Boulevard, this burgeoning neighborhood’s infrastructure has seen an unprecedented resurgence within the last few years.  The property is safely positioned down the street from a Los Angeles Police Department Station. As a value-add property it offers a savvy investor a prime commercial corner lot with ultimate exposure.

 

The recent surge in development within the area has proven a dynamic demographic, dramatically increasing retail appeal. Traffic counts along the busy Venice Boulevard are approximately 35,000 to the east and 35,000 to the west.  The population within one-mile is a dense 45,441 and 365,576 in three-miles.