1841 N Western Ave
Los Angeles, CA 90027
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Excellent Location with Substantial Residential or Commercial Development Opportunity.
- Occupied by Rite Aid for Over 25 Years with NNN Lease
- Large 1.26 AC Lot Zoned LAC4 with Tier 3 TOC Program
- Potential Additional Opportunity to Acquire Adjacent Lots:
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
31,000 SF
Building Class
B
Year Built/Renovated
1963/2023
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.63
Lot Size
1.13 AC
Zoning
LAC4
Parking
48 Spaces (1.55 Spaces per 1,000 SF Leased)
Frontage
294’ on N Western Ave
AMENITIES
- Bus Line
- Pylon Sign
- Signalized Intersection
ABOUT 1841 N WESTERN AVE , LOS ANGELES, CA 90027
Azzi Advisors of Marcus & Millichap is pleased to present the rare opportunity to acquire this single-tenant retail property located at 1841 North Western Avenue in Los Angeles, California. Built in 1963, this single-tenant property is composed of 24,354 square feet of gross leasable area and is situated on a large 1.26 acre lot zoned LAC4 and classified Tier 3 by the TOC Program, allowing for future development. Rite Aid, the current tenant, pharmacy, has an existing lease ending January 31, 2023 with option to terminate after June 1, 2019 with 270 day notice, leaving the Buyer numerous exit strategies. ***ALL OFFERS DUE APRIL 27TH ***
PROPERTY TAXES
| Parcel Number | 5544-004-035 | Improvements Assessment | $2,809,779 |
| Land Assessment | $23,905,167 | Total Assessment | $26,714,946 |
