OFFERING PRICE:
$3,087,000 

CURRENT OCCUPANCY:
100%

TOTAL BUILDING AREA:
±4,792 SF
 
FEATURED LISTING:
SHOPS ON VAN NUYS
7921-7929 Van Nuys Blvd, Panorama City, CA
INVESTMENT HIGHLIGHTS
 
• Opportunity Zone Location - Providing Potential tax benefits to investors through forming an eligible corporation and partnership to become a Qualified Opportunity Fund (visit: www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions)
 
• Corporate, Long Term Lease – Shoe Palace is on a long-term NNN lease expiring in 2029 and occupies 49% of the GLA, reducing major near-term leasing responsibility and associated capital costs. Shoe Palace is a privately held company headquartered in Morgan Hill, CA and currently operates 160 locations across 8 states
 
•
 		 Excellent NOI Growth – Due to embedded rental increases, and converting the below market gross lease of the food stop tenant to a market NNN lease rate, the Net Operating Income is projected to grow approximately $106,971 (65%) during an anticipated 10-year hold period
 
• Main Retail Corridor – Shops on Van Nuys is well located along Van Nuys Blvd, the dominant retail arterial in the trade area. The property benefits from synergy with surrounding retailers such as Home Depot, Smart & Final, Regency Theatres, Ross Dress for Less, PetSmart, F21, McDonalds and In-N-Out among many others
 
•
 		 High Traffic Location – Strong traffic counts exceeding ±49,000 CPD at the intersection of Van Nuys Blvd and Blythe St, combined with the convenient ingress and egress complemented by ample parking make the property a patron favorite
 
• More than 779,200 people in a 5-mile radius with an Average Household Income exceeding $82,800


CLICK HERE TO DOWNLOAD OFFERING MEMORANDUM

 
FOR MORE
INFORMATION
PLEASE CONTACT:
 
NRP-WEST
JOHN EDDY
+1 949 725 8550
Lic. 01827465
john.eddy@cbre.com		 JAMES TYRRELL
+1 949 725 8473
Lic. 02012964
james.tyrrell@cbre.com		 PRESTON FETROW
+1 949 725 8538
Lic. 00923282
preston.fetrow@cbre.com
Share

You may also unsubscribe by calling toll-free +1 877 CBRE 330 (+1 877 227 3330).

Please consider the environment before printing this email.

CBRE respects your privacy. A copy of our Privacy Policy is available online. For California Residents, our California Privacy Notice is available here. If you have questions or concerns about our compliance with this policy, please email PrivacyAdministrator@cbre.com or write to Attn: Marketing Department, Privacy Administrator, CBRE, 200 Park Ave. 19-22 Floors, New York, NY 10166.

Address: 2100 McKinney Ave Suite 700, Dallas TX 75201

THIS IS A MARKETING COMMUNICATION

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.

All of CBRE's COVID-19 related materials have been developed with information from the World Health Organization, the Centers for Disease Control & Prevention (and similar global organizations), public health experts, industrial hygienists, and global subject matter experts across CBRE and our strategic suppliers. Our materials may not be suitable for application to all facilities or situations.

Ultimately, occupiers and landlords must make and implement their own reopening decisions for their individual stakeholders and facilities. CBRE's guidance is intended to help facilitate those discussions and expedite the implementation of those decisions once made by the client. We make no representations or warranties regarding the accuracy or completeness of these materials. CBRE cannot ensure safety and disclaims all liability arising from use of these materials.