Northgate Gonzalez Market 2323 W Olympic Blvd

19,437 SF Retail Building Los Angeles, CA 90006 $26,000,000 ($1,338/SF)

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INVESTMENT HIGHLIGHTS

Entire Block of 1,653 AC = 72,002 SF Land Size , C2, C4, P1 Zone
Mixed Use Develpment Opportunity - well suited for 350 Units plus 60,000 Retail Spaces on bottom

W Olympic Blvd & Grand View & South Park View Intersection
A strong NNN Tenant *Northgate Market* Single Tenant occupying 19,436 SF building size

EXECUTIVE SUMMARY

The WIN Realty & Properties Team is excited to present an amazing opportunity to add value 2323 W Olympic Blvd Los Angeles large as 1.653 AC / 72,003 SF land size, C2, C4, P1 zone. The entire block of corner intersection of W Olympic Blvd & Grand View & South Park View Street. This land can offer redevelopment opportunity on prime W Olympic Blvd connecting from K Town onto Downtown area. Great Mixed Use Development Opportunity - This location is well-suited for 350 Residential Units plus 60,000 SF Retail Spaces by Density Bonus w/TOC Tier 3 incentive. Currently, a strong Single NNN Tenant (Northgate Market Los Angeles) with 5-year lease only, NO option to renew after February 28, 2030 since March 01, 2010 as a starting point. Northgate Market occupies building size 19,436 SF consists of leases with total income of $672,000 -next year $702,000, $12K increase per year, enjoy high rental income while processing onto obtaining permits and entitlements for further develop into a large multi-story Redevelopment, it sure will attract high visibility with major traffic occurrence on Olympic Blvd, just 6-7 blocks from Crypto.com Arena in Downtown Los Angeles.
A truly rare opportunity with tremendous development with a strong income portfolio to be added to your assets.

Contact exclusive agents Thomas Lee & Connie Kim (213 272-4545) for the marketing flyer, and/or to discuss any other details.

OM_2323 W Olympic Blvd_II

PROPERTY FACTS

Sale Type

Investment

Sale Condition

Redevelopment Project

Property Type

Retail

Property Subtype

Freestanding

Building Size

19,437 SF

Building Class

Year Built

1962

Price

$26,000,000

Price Per SF

$1,338

Tenancy

Single

Building Height

1 Story

Building FAR

0.27

Lot Size

1.65 AC

Zoning

C4, C2, P1 - TOC Tier #3

Parking

122 Spaces (6.28 Spaces per 1,000 SF Leased)

MAJOR TENANTS

Retailer
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At Northgate Market, they view their associates as an extension of their family. They have developed a culture that they are proud of and one that their employees can get behind. While they place much focus on their culture internally, they also understand the objective: serving their customers. They want the Northgate culture that they have worked so hard to develop, to shine through and bring joy to their communities. Their values are reflected in their service. At Northgate, they pledge to warmly welcome all, be attentive, and make shopping easy for customers. With over 40 stores, Northgate Market provides promising employment opportunities to members of their communities. Their employees’ dynamic cultures merge here with the desires of their customers to create one of the most welcoming and thriving companies to work for.