Platinum Portfolio | 16909 Parthenia St
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Platinum Portfolio 16909 Parthenia St
24,199 SF 37% Leased Office Building Northridge, CA 91343 $7,138,000 ($295/SF)
Executive Summary
BEST VALUE THREE-STORY OWNER-USER NEIGHBORHOOD OFFICE BUILDING OPPORTUNITY
* Rare low-rise owner/user office building totaling 24,199 SF.
* Best value within 10 mile radius for a free-standing office building that can immediately accommodate a ~9,000 SF user.
* Allows owner-user to grow into additional space over time as leases expire.
* Recently renovated common area upgrades totaling approximately $100,000.
ROBUST NEIGHBORHOOD OFFICE MARKET FUNDAMENTALS
* Within the North Hills/Northridge neighborhood submarket there are 116 office properties under 50k SF totaling 1.2m SF with a very low vacancy rate of 8.6% (Costar).
* Historical vacancy within the subset has not exceeded 13.4% over the past decade (Costar).
* Situated west of the 405 Freeway, the project is insulated from the denser urban feel east of the 405 Freeway, offering professional tenants a welcoming setting at a 15-20% discount to alternative Class A and medical office spaces.
EXCELLENT NEIGHBORHOOD OFFICE LOCATION
* The property offers premier frontage on Parthenia Street just off Balboa Boulevard, benefiting from high exposure to ~30,781 cars passing each day (Costar) and provides convenient access to the 405, 118 and 101 Freeways.
* The project is around the corner from The Mix, a 40-acre creative campus home to Harman International, Amazon, and Regal Medical, which offers a variety of amenities including retail stores, restaurants, and a fitness center.
* There are 86,706 households within a 3-mile radius with the average household income of $87,477.
* Rare low-rise owner/user office building totaling 24,199 SF.
* Best value within 10 mile radius for a free-standing office building that can immediately accommodate a ~9,000 SF user.
* Allows owner-user to grow into additional space over time as leases expire.
* Recently renovated common area upgrades totaling approximately $100,000.
ROBUST NEIGHBORHOOD OFFICE MARKET FUNDAMENTALS
* Within the North Hills/Northridge neighborhood submarket there are 116 office properties under 50k SF totaling 1.2m SF with a very low vacancy rate of 8.6% (Costar).
* Historical vacancy within the subset has not exceeded 13.4% over the past decade (Costar).
* Situated west of the 405 Freeway, the project is insulated from the denser urban feel east of the 405 Freeway, offering professional tenants a welcoming setting at a 15-20% discount to alternative Class A and medical office spaces.
EXCELLENT NEIGHBORHOOD OFFICE LOCATION
* The property offers premier frontage on Parthenia Street just off Balboa Boulevard, benefiting from high exposure to ~30,781 cars passing each day (Costar) and provides convenient access to the 405, 118 and 101 Freeways.
* The project is around the corner from The Mix, a 40-acre creative campus home to Harman International, Amazon, and Regal Medical, which offers a variety of amenities including retail stores, restaurants, and a fitness center.
* There are 86,706 households within a 3-mile radius with the average household income of $87,477.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
24,199 SF
Building Class
B
Year Built
1984
Price
$7,138,000
Price Per SF
$295
Percent Leased
37%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
8,066 SF
Slab To Slab
10’
Building FAR
0.69
Lot Size
0.80 AC
Zoning
CR, Los Angeles
Parking
56 Spaces (2.31 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 101A | 1,257 SF | Office | - | Now |
| 1st Fl-Ste 103 | 2,503 SF | Office | Full Build-Out | Now |
| 2nd Fl-Ste 200 | 7,305 SF | Office | Full Build-Out | Now |
| 2nd Fl-Ste 204 | 1,550 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 301 | 1,782 SF | Office | Full Build-Out | Now |
| 3rd Fl-Ste 304 | 890 SF | Office | Full Build-Out | Now |
1st Fl-Ste 101A
| Size |
| 1,257 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste 103
| Size |
| 2,503 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 200
| Size |
| 7,305 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 204
| Size |
| 1,550 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 301
| Size |
| 1,782 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 304
| Size |
| 890 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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1st Fl-Ste 101A
| Size | 1,257 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
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1st Fl-Ste 103
| Size | 2,503 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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3D TOUR
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2nd Fl-Ste 200
| Size | 7,305 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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2nd Fl-Ste 204
| Size | 1,550 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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3rd Fl-Ste 301
| Size | 1,782 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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3rd Fl-Ste 304
| Size | 890 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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Walk Score ®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 2688-041-013 | Improvements Assessment | $2,578,740 |
| Land Assessment | $1,254,518 | Total Assessment | $3,833,258 |
PROPERTY TAXES
Parcel Number
2688-041-013
Land Assessment
$1,254,518
Improvements Assessment
$2,578,740
Total Assessment
$3,833,258
Contacts
-
Mark Shaffer -
Gerard Poutier -
Dylan Rutigliano -
Nick Williams -
Bryan Johnson -
CBRE, Inc.
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Platinum Portfolio | 16909 Parthenia St
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