Venice Center | 10020-10036 Venice Blvd
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Venice Center 10020-10036 Venice Blvd
9,773 SF 100% Leased Retail Building Culver City, CA 90232 $6,695,000 ($685/SF)
Investment Highlights
- High Profile Signalized Corner Center Surrounded by Extraordinary Luxury Residential Developments
- Excellent Private Parking at Signalized Intersection with High Traffic Count
- Incredible Culver City Location directly Adjacent to Sony Studios
Executive Summary
* PLEASE READ ENTIRE DESCRIPTION * SIGNIFICANT VALUE-ADD OPPORTUNITY & UPSIDE *
Douglas Elliman Commercial is proud to present a substantial opportunity for a buyer willing to put in the effort to reposition it and realize extraordinary value. Six of the seven Leases are near or at the end of their terms, creating an opportunity for repositioning and enhanced cash-flow. Privately owned and family-operated for over 30 years. *It is under-managed, with operational inefficiencies that are prime for a new owner to optimize.
*IMPORTANT TO NOTE: Typical income/expense records are not available for this property as it has been under managed for some time which provides a new owner an opportunity to optimize the potential inefficiencies in management operations and increase annual revenue.
Many rents are below market rates. Tenants are currently NOT paying NNN (Triple Net) expenses, providing a new owner opportunities to increase revenue through lease enhancements.
This opportunity is ideal for an experienced Buyer who has the expertise to unlock the asset's potential, improve operations, align rents with market rates, and enforcing NNN leases, can and will, dramatically improve cash flow.
Douglas Elliman Commercial is proud to present a substantial opportunity for a buyer willing to put in the effort to reposition it and realize extraordinary value. Six of the seven Leases are near or at the end of their terms, creating an opportunity for repositioning and enhanced cash-flow. Privately owned and family-operated for over 30 years. *It is under-managed, with operational inefficiencies that are prime for a new owner to optimize.
*IMPORTANT TO NOTE: Typical income/expense records are not available for this property as it has been under managed for some time which provides a new owner an opportunity to optimize the potential inefficiencies in management operations and increase annual revenue.
Many rents are below market rates. Tenants are currently NOT paying NNN (Triple Net) expenses, providing a new owner opportunities to increase revenue through lease enhancements.
This opportunity is ideal for an experienced Buyer who has the expertise to unlock the asset's potential, improve operations, align rents with market rates, and enforcing NNN leases, can and will, dramatically improve cash flow.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,773 SF
Building Class
B
Year Built
1985
Price
$6,695,000
Price Per SF
$685
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.58
Land Acres
0.39 AC
Zoning
LAC2 - Zoning, Use and All Square Footage are per the Public Assessor. Buyer to rely solely on their own professional investigation(s).
Parking
19 Spaces (1.94 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Cali Tandoor Cuisine
- Accommodation and Food Services
- 2,353 SF
- -
- Triple Net
- Aug 2033
- Fishbowl
- Accommodation and Food Services
- 940 SF
- -
- Triple Net
- Nov 2024
- Nature Aquarium
- -
- 834 SF
- -
- Triple Net
- Dec 2024
- Phovorite
- Accommodation and Food Services
- 940 SF
- -
- Triple Net
- -
- Restaurante Juquila 2 Inc
- Accommodation and Food Services
- 1,220 SF
- -
- Triple Net
- Mar 2025
- The Grain Cafe
- Accommodation and Food Services
- 2,715 SF
- -
- Triple Net
- -
- Wave Nails
- Services
- 660 SF
- -
- Triple Net
- Dec 2024
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Cali Tandoor Cuisine | Accommodation and Food Services | 2,353 SF | - | Triple Net | Aug 2033 | |
| Fishbowl | Accommodation and Food Services | 940 SF | - | Triple Net | Nov 2024 | |
| Nature Aquarium | - | 834 SF | - | Triple Net | Dec 2024 | |
| Phovorite | Accommodation and Food Services | 940 SF | - | Triple Net | - | |
| Restaurante Juquila 2 Inc | Accommodation and Food Services | 1,220 SF | - | Triple Net | Mar 2025 | |
| The Grain Cafe | Accommodation and Food Services | 2,715 SF | - | Triple Net | - | |
| Wave Nails | Services | 660 SF | - | Triple Net | Dec 2024 |
Walk Score ®
Walker's Paradise (97)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 4207-005-035 | Improvements Assessment | $1,386,957 |
| Land Assessment | $1,213,581 | Total Assessment | $2,600,538 |
PROPERTY TAXES
Parcel Number
4207-005-035
Land Assessment
$1,213,581
Improvements Assessment
$1,386,957
Total Assessment
$2,600,538
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Jason Froehlich -
Jordyn Braff -
Douglas Elliman Commercial
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Venice Center | 10020-10036 Venice Blvd
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