Mini-Market Business & Real Estate for Sale

Los Angeles, CA (Los Angeles County)

Mini-Market Business & Real Estate for Sale
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Asking Price: $7,000,000

Gross Revenue: $2,600,000

Price/Sq. Ft.: N/A

NOI: $500,000

Building SF: 3,216

FF&E: N/A

Year Built: 1976

Mini-Market Business & Real Estate for Sale

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Property Description

E & M Advisors, Inc., as exclusive broker is pleased to present for sale a .43 acre (18,541 sq.ft.) site located in the Mid-City market of Los Angeles. On Washington Blvd. near Hauser, between La Brea and Fairfax, this property’s location is geographically equidistant between Downtown Los Angeles and the Pacific Ocean. This property is just two miles south of Miracle Mile, two miles northeast of Culver City and only 1.5 miles north of the 10 freeway.

There are multiple ways to look at this opportunity. The property benefits from a standalone mini-market with a liquor license and two additional tenants that use the property for storage purposes. The new owner/user could operate the business while building equity in the property. This is also an excellent development opportunity for someone who may want to reposition the property for other mixed-use purposes or sell to a developer in the near future in a high-demand area.

Two miles north, the Miracle Mile submarket is experiencing multiple high-profile developments. The Academy of Motion Picture Arts and Sciences new $388-million dollar museum is slated for completion in 2019. The $600-million dollar LACMA expansion is expected for completion in 2023 to coincide with the opening of the Purple Line's Wilshire/Fairfax Station. Multifamily developments are achieving close to $5.25 plus in high-rise apartment rents and $4.25 plus in mid-rise apartment rents for new construction.

Detailed Information

Location:
Los Angeles, CA
Type:
Retail
Building SF:
3,216
Building Status:
Established
Facilities:
Owner of the real estate is also the owner of the standalone mini-market so terms are negotiable. Contact Listing Broker for details.
Location Description:
Mid-City market of Los Angeles. On Washington Blvd. near Hauser, between La Brea and Fairfax.
Current and Prior Use:
Standalone Mini-Market & Real Estate
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Caroline Lee

Property Listed By:
Caroline Lee

E & M Advisors, Inc.

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