Office/Retail Shell Near DTLA Hotspots
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Office/Retail Shell Near DTLA Hotspots
2 Retail Properties Online Auction Sale Los Angeles, CA
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Investment Highlights
- This offer provides a blank canvas for retail/office users and investors and allows entry into one of Downtown Los Angeles’ most well-known corridors.
- Currently in shell condition, the asset received ±$1M in renovations, but due to vandalism, ±$500,000 is required to repair mechanical and plumbing.
- Growing 1-mile population of more than 82,000 and daytime employment exceeding 160,000 provides a valuable pool of employees and customers.
- Walkable from popular hotspots, including the Grand Central Market, LA Art Walk, LA City Hall, the Museum of Contemporary Art, and Pershing Square.
- Within 10 minutes of Dodger Stadium, the Crypto.com Arena, LA LIVE, and the Los Angeles Union Station public transit terminal.
Executive Summary
KW Commercial Beverly Hills invites users, investors, and developers to discover a contiguous mixed-use portfolio near the heart of Downtown Los Angeles, California, at 335-345 S Broadway.
The buildings, totaling ±45,726 square feet, were originally constructed in 1940 and sit on 0.38 acres, zoned LAC2, with direct frontage to the historic Broadway corridor. Delivered vacant and in cold shell condition, the property provides an easy entry point for businesses looking to operate in the area or value-add investors hoping to lease it and generate robust cash flow.
The current owner of 335-345 S Broadway invested approximately $1 million in upgrading and renovating the property. Due to recent vandalism, $500,000 will need to be invested to repair damage to the building’s mechanical and plumbing.
Nestled off the high-traffic corner of Broadway and 4th Avenue, the property enjoys direct visibility from more than 37,700 passing vehicles daily. Thanks to convenient connections to the 101, 110, and 10 Freeways, commuters can easily reach the property. The location is central to several of Downtown Los Angeles’ hotspots. Major landmarks, including Pershing Square, the Bradbury Building, the DTLA Art Walk, the Museum of Contemporary Art, and LA City Hall, are all walkable from the subject property. The Grand Central Market neighbors the property, the city's oldest public market that draws over 2 million annual visitors. Additionally, Dodger Stadium, the Crypto.com Arena, LA LIVE, the LA Convention Center, and LA’s Union Station are reachable in just 10 minutes.
Recent population growth in downtown Los Angeles delivers a valuable demographic profile when looking just one mile from 335-345 S Broadway. The population of more than 82,000 has grown by over 9% since 2020, with daytime employment currently exceeding 160,000. Residents are well-educated, with 44% carrying a bachelor’s degree or higher and the average household income surpassing $90,000. This results in a significant pool of potential employees and customers for new businesses in the area.
Become part of the future of one of Downtown Los Angeles’ most historic thoroughfares with the blank office and retail canvas at 335-345 S Broadway.
The buildings, totaling ±45,726 square feet, were originally constructed in 1940 and sit on 0.38 acres, zoned LAC2, with direct frontage to the historic Broadway corridor. Delivered vacant and in cold shell condition, the property provides an easy entry point for businesses looking to operate in the area or value-add investors hoping to lease it and generate robust cash flow.
The current owner of 335-345 S Broadway invested approximately $1 million in upgrading and renovating the property. Due to recent vandalism, $500,000 will need to be invested to repair damage to the building’s mechanical and plumbing.
Nestled off the high-traffic corner of Broadway and 4th Avenue, the property enjoys direct visibility from more than 37,700 passing vehicles daily. Thanks to convenient connections to the 101, 110, and 10 Freeways, commuters can easily reach the property. The location is central to several of Downtown Los Angeles’ hotspots. Major landmarks, including Pershing Square, the Bradbury Building, the DTLA Art Walk, the Museum of Contemporary Art, and LA City Hall, are all walkable from the subject property. The Grand Central Market neighbors the property, the city's oldest public market that draws over 2 million annual visitors. Additionally, Dodger Stadium, the Crypto.com Arena, LA LIVE, the LA Convention Center, and LA’s Union Station are reachable in just 10 minutes.
Recent population growth in downtown Los Angeles delivers a valuable demographic profile when looking just one mile from 335-345 S Broadway. The population of more than 82,000 has grown by over 9% since 2020, with daytime employment currently exceeding 160,000. Residents are well-educated, with 44% carrying a bachelor’s degree or higher and the average household income surpassing $90,000. This results in a significant pool of potential employees and customers for new businesses in the area.
Become part of the future of one of Downtown Los Angeles’ most historic thoroughfares with the blank office and retail canvas at 335-345 S Broadway.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Los Angeles - CA USA
Market Cap Rate
Los Angeles - CA USA
Market Sale Price per SF by Star Rating
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4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
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Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Conditions | Auction Sale | Number of Properties | 2 |
| Sale Type | Investment | Total Building Size | 45,726 SF |
| Status | Active | Total Land Area | 0.38 AC |
| Sale Conditions | Auction Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Building Size | 45,726 SF |
| Total Land Area | 0.38 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 341-345 S Broadway, Los Angeles, CA 90013 | Retail | 25,014 SF | 1940 |
| 335-337 S Broadway, Los Angeles, CA 90013 | Retail | 20,712 SF | 1940 |
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Sale Advisor
Sale Advisor
Jordan Petito, Investment Sales
(310) 734-2245
Contact
Before transitioning into brokerage, he gained valuable insights into construction processes, enabling him to assess development opportunities with a keen understanding of costs and project logistics.
Throughout his career, Jordan has been instrumental in facilitating over $100 million in real estate transactions. His passion for real estate, combined with his commitment to delivering exceptional results for clients, sets him apart in the competitive Los Angeles market. Jordan Petito is the trusted partner you need for all your commercial real estate needs.
Jordan earned his bachelor’s degree in business administration from the University of Southern California, Marshall School of Business, at the age of 20 with honors
Throughout his career, Jordan has been instrumental in facilitating over $100 million in real estate transactions. His passion for real estate, combined with his commitment to delivering exceptional results for clients, sets him apart in the competitive Los Angeles market. Jordan Petito is the trusted partner you need for all your commercial real estate needs.
Jordan earned his bachelor’s degree in business administration from the University of Southern California, Marshall School of Business, at the age of 20 with honors
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Derek Rudd
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Jordan Petito -
KW Commercial Beverly Hills
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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