Van Nuys and Sherman Way Shopping Center | 14434-14480 Sherman Way
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Van Nuys and Sherman Way Shopping Center 14434-14480 Sherman Way
18,296 SF 100% Leased Retail Building Van Nuys, CA 91405 $12,595,000 ($688/SF) 5.45% Cap Rate
Investment Highlights
- A highly prominent and passive two-tenant retail center investment. Occupied by the nationally recognized investment-grade tenant, DaVita (DVA-NYSE).
- The DaVita lease includes structured increases of 2.5% annually and 15% every five (5) years for the Gallo Giro lease, providing an inflation hedge.
- Centrally located in Van Nuys, the asset contains an ideal consumer base in a densely populated area.
- Spread over 1.2 acres, consists of two (2) buildings totaling 18,296 sq. ft. and seventy (70) parking spaces.
- The property features long-term leases with optimal NNN lease structures. Leases are thoughtfully structured to allow NNN reimbursement by tenants.
- The immediate surrounding vicinity consists of robust trade area with over 46,400 residents within a 1-mile radius.
Executive Summary
Irreplaceable Two-Tenant Asset In The Heart of the San Fernando Valley
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
18,296 SF
Building Class
C
Year Built
1995
Price
$12,595,000
Price Per SF
$688
Cap Rate
5.45%
NOI
$686,635
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.35
Lot Size
1.21 AC
Opportunity Zone
Yes
Zoning
C2-1L / TOC Tier 4 - Commercial
Parking
70 Spaces (3.83 Spaces per 1,000 SF Leased)
Frontage
31 FT on Sherman Way
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Air Conditioning
Walk Score ®
Very Walkable (81)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,071,164 | |
| Land Assessment | $3,277,091 | Total Assessment | $5,348,255 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$3,277,091
Improvements Assessment
$2,071,164
Total Assessment
$5,348,255
Contacts
-
Patrick Wade -
Alex Kozakov -
Matthew Greenberg -
Jack Webber -
Bo Henderson -
Vivian Tran -
CBRE, Inc.
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Van Nuys and Sherman Way Shopping Center | 14434-14480 Sherman Way
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