SHOPPING AUTO CENTER
5060 VENICE BOULEVARD
LOS ANGELES, CA 90019
CAP RATE CURRENT/ PRO FORMA:
Over 15 Offers
Tenant had 1st Right of Refusal
Sold $250,000 Above List Price
10 Day Non Contingent All Cash Close
Large Corner Lot
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
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.