Kanan Crossing 28955 Pacific Coast Hwy

17,614 SF 40% Leased Retail Building Malibu, CA 90265 $9,600,000 ($545/SF) 6.24% Cap Rate

Investment Highlights

  • Contemporary architecture with ample outdoor space with balconies overlooking the ocean
  • Great for owner user who is in the Medical, Wellness or Professional Office space
  • High visibility location with 45000 car per day
  • Offering 5% Commissions on our spaces available for Lease

Executive Summary

Great property on a busy intersection with 45000 cars per day. Building has been redesigned and can make a great NNN investment and also suitable for an owner user. 42 parking spots in the back lot provide ample parking. Call Ben today for a private showing 818 495 5215 Perfect for owner user!

Financial Summary (Pro forma - 2025)

Annual Annual Per SF
Gross Rental Income $925,119 $52.52
Other Income - -
Vacancy Loss $138,768 $7.88
Effective Gross Income $786,351 $44.64
Taxes $85,000 $4.83
Operating Expenses $91,547 $5.20
Total Expenses $176,547 $10.02
Net Operating Income $609,804 $34.62

Property Facts

Sale Type
Investment or Owner User
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
17,614 SF
Building Class
B
Year Built/Renovated
1987/2019
Price
$9,600,000
Price Per SF
$545
Cap Rate
6.24%
NOI
$599,167
Percent Leased
40%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.94
Lot Size
0.43 AC
Zoning
LCC1-2 - Wellness, Professional office, Medical
Parking
42 Spaces (2.38 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Corner Lot
  • Freeway Visibility
  • Signage
  • Signalized Intersection
  • Air Conditioning
  • Balcony

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 110
  • 1,000 SF
  • Office/Retail
  • -
  • Now

Rent of $1/SF NNN built in.

  • 120
  • 800 SF
  • Office/Retail
  • -
  • Now

Rent of $1/SF NNN built in.

  • 210-310
  • 3,200 SF
  • Office/Retail
  • -
  • Now

Rent of $1/SF NNN built in.

Space Size Space Use Position Available
110 1,000 SF Office/Retail - Now
120 800 SF Office/Retail - Now
210-310 3,200 SF Office/Retail - Now

110

Size
1,000 SF
Space Use
Office/Retail
Position
-
Available
Now

120

Size
800 SF
Space Use
Office/Retail
Position
-
Available
Now

210-310

Size
3,200 SF
Space Use
Office/Retail
Position
-
Available
Now

Nearby Major Retailers

Starbucks
Bank Of America
Chase Bank
Pavilions
Coffee Bean & Tea Leaf

PROPERTY TAXES

  • Listing ID: 31119333

  • Date on Market: 3/4/2024

  • Last Updated:

  • Address: 28955 Pacific Coast Hwy, Malibu, CA 90265