LA Fashion District Retail with Parking | 510 E Olympic Blvd
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LA Fashion District Retail with Parking 510 E Olympic Blvd
19,500 SF 56% Leased Retail Building Online Auction Sale Los Angeles, CA 90015
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Investment Highlights
- This versatile collection of modern retail suites with 60 parking stalls offers an ideal option for owner/user occupancy or a value-add investment.
- Prime location places businesses within minutes of Downtown LA, the Fashion District, the Arts District, and the Entertainment District.
- Positioned just one block from the future City Market development project.
- Desirable features include street-level showrooms with mezzanine, onsite parking, gated alleyways, full glass storefronts, and signage opportunities.
- This high-traffic corner is visible to over 14,000 VPD and easily accessible by major area freeways, including the 10, 5, 101, and 110.
Executive Summary
Lee & Associates is pleased to exclusively present the opportunity to acquire a 100% fee simple interest in 510 E Olympic Boulevard. This vibrant collection of retail storefronts provides investors with an income-producing asset on a high-traffic corner of the Los Angeles Fashion District.
Discover the modern features and amenities that set 510 E Olympic Boulevard apart from other properties in the area. Totaling 19,500 square feet, the property was constructed in 1993 on a 0.44-acre lot with M2 zoning. Suites feature street-level showrooms, an on-site parking garage with 60 stalls, gated alleyways, full-glass storefronts, and highly visible tenant signage. A ceiling height of 16 to 18 feet provides ample clearance and makes the space ideal for a wide variety of business uses. The property is currently 55.5% occupied primarily by businesses in garment-related industries, providing the opportunity for either an owner/user occupancy or a value-add investment.
Benefit from 510 E Olympic Boulevard’s top-tier location near major traffic drivers and area freeways. The one-story building is ideally located at the northwest corner of Olympic Boulevard and Wall Street. Excellent visibility to these arteries provides exposure to more than 14,000 vehicles daily. Additionally, the property is easily accessible from the area’s busiest freeways, including the 10, 5, 101, and 110. Proximity to the Downtown Los Angeles Financial District, LA Live Sports and Entertainment District, the Arts District, and Santee Alley further enhances its appeal.
Don’t miss out on this chance to acquire a performing asset with a prime location near Los Angeles’ busiest hotspots at 510 E Olympic Boulevard.
Discover the modern features and amenities that set 510 E Olympic Boulevard apart from other properties in the area. Totaling 19,500 square feet, the property was constructed in 1993 on a 0.44-acre lot with M2 zoning. Suites feature street-level showrooms, an on-site parking garage with 60 stalls, gated alleyways, full-glass storefronts, and highly visible tenant signage. A ceiling height of 16 to 18 feet provides ample clearance and makes the space ideal for a wide variety of business uses. The property is currently 55.5% occupied primarily by businesses in garment-related industries, providing the opportunity for either an owner/user occupancy or a value-add investment.
Benefit from 510 E Olympic Boulevard’s top-tier location near major traffic drivers and area freeways. The one-story building is ideally located at the northwest corner of Olympic Boulevard and Wall Street. Excellent visibility to these arteries provides exposure to more than 14,000 vehicles daily. Additionally, the property is easily accessible from the area’s busiest freeways, including the 10, 5, 101, and 110. Proximity to the Downtown Los Angeles Financial District, LA Live Sports and Entertainment District, the Arts District, and Santee Alley further enhances its appeal.
Don’t miss out on this chance to acquire a performing asset with a prime location near Los Angeles’ busiest hotspots at 510 E Olympic Boulevard.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
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
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Building Size
19,500 SF
Building Class
B
Year Built
1993
Percent Leased
56%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.03
Land Acres
0.44 AC
Opportunity Zone
Yes
Zoning
LAM2
Parking
60 Spaces (3.24 Spaces per 1,000 SF Leased)
Frontage
505 FT on E Olympic Blvd
Amenities
- Bus Line
- Signage
- Signalized Intersection
Walk Score ®
Very Walkable (86)
Transit Score ®
Rider's Paradise (96)
Bike Score ®
Very Bikeable (81)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
57,122
477,792
1,175,372
2020 Population
51,334
497,495
1,236,176
2029 Population
56,906
462,494
1,135,105
2024-2029 Projected Population Growth
-0.4%
-3.2%
-3.4%
Daytime Employees
114,553
343,862
566,456
Total Businesses
14,290
38,791
69,879
Average Household Income
$91,333
$69,696
$75,194
Median Household Income
$56,929
$46,448
$52,328
Total Consumer Spending
$766.8M
$4.1B
$10.7B
Median Age
38.6
35.2
36.2
2024 Households
30,488
168,465
396,384
Percent College Degree or Above
30%
17%
16%
Average Home Value
$846,998
$722,833
$756,150
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5145-019-026 | Improvements Assessment | $2,566,611 |
| Land Assessment | $7,395,121 | Total Assessment | $9,961,732 |
PROPERTY TAXES
Parcel Number
5145-019-026
Land Assessment
$7,395,121
Improvements Assessment
$2,566,611
Total Assessment
$9,961,732
Sale Advisors
Sale Advisors
Matthew C. Sullivan, Managing Director, Principal
(213) 623-0800 x1
Contact
Matthew C. Sullivan, a 35+ year commercial real estate veteran, is a Founding Principal of Lee Investment Services Group, a member of the Lee Group of Companies. He specializes in investment advisory and brokerage for multi-family, industrial, office, medical, mixed use and retail properties. He has successfully executed or assisted in the close of more than 300 transactions valued in excess of $2 billion over the course of his career.
Mr. Sullivan has developed a loyal client list that includes both public and private sector companies, developers and institutional investors who rely on his counsel and transactional acumen to realize their wealth accumulation goals. He has ranked as the No. 1 or No. 2 producer in the companies he has been affiliated with for several years.
Mr. Sullivan was most recently with Colliers International where he was a charter member and Advisory Board member of the Private Capital Advisors team, developed to serve investors who place their own money into commercial and multi-housing real estate investments.
Earlier in his career, Mr. Sullivan served as Senior Investment Associate and Director of the national office and Retail Investment Group of Marcus & Millichap. The Senior Investment Associate title, which he was awarded in 1992, is given to less than 2 percent of the agents who start with the company.
Mr. Sullivan began his real estate career with Charles Dunn Co. and Coldwell Banker.
Mr. Sullivan has developed a loyal client list that includes both public and private sector companies, developers and institutional investors who rely on his counsel and transactional acumen to realize their wealth accumulation goals. He has ranked as the No. 1 or No. 2 producer in the companies he has been affiliated with for several years.
Mr. Sullivan was most recently with Colliers International where he was a charter member and Advisory Board member of the Private Capital Advisors team, developed to serve investors who place their own money into commercial and multi-housing real estate investments.
Earlier in his career, Mr. Sullivan served as Senior Investment Associate and Director of the national office and Retail Investment Group of Marcus & Millichap. The Senior Investment Associate title, which he was awarded in 1992, is given to less than 2 percent of the agents who start with the company.
Mr. Sullivan began his real estate career with Charles Dunn Co. and Coldwell Banker.
Sehyung Kim, Senior Vice President | Principal
(213) 290-3599
Contact
Sehyung has been providing brokerage services in Los Angeles since 2001 when he joined one of the oldest Korean American Brokerage Firms in Los Angeles. In 2004, he joined Daum Commercial Real Estate Services, where he was consistently one of the top producers in the downtown Los Angeles office, where he was a top-10 producer company-wide in multiple years.
He joined Lee + Associates Los Angeles with over two decades of brokerage experience bringing extensive experience working with private and institutional investors as well as owner-users. He has represented both landlords and tenants across many industries for all asset types including industrial, retail and office. Prior to brokerage, Sehyung worked as a real estate consultant for Ernst and Young, where he provided real estate services for national and multi-national real estate firms on many levels including marketing, market analysis, and comprehensive feasibility and investment analysis.
Leveraging his consulting experience at Ernst and Young, Sehyung also worked in business process management consulting for a venture capital start-up company in
Boston, MA, now part of EMC, a multi-billion dollar publicly traded company. Having worked with executives and managers of such Fortune 500 companies as Verizon,
General Electric, Unisys, and Honeywell, he has a unique insight into the real estate needs and requirements of a variety of businesses that he can translate to meet the needs and requirements of his clients in varying scales.
He joined Lee + Associates Los Angeles with over two decades of brokerage experience bringing extensive experience working with private and institutional investors as well as owner-users. He has represented both landlords and tenants across many industries for all asset types including industrial, retail and office. Prior to brokerage, Sehyung worked as a real estate consultant for Ernst and Young, where he provided real estate services for national and multi-national real estate firms on many levels including marketing, market analysis, and comprehensive feasibility and investment analysis.
Leveraging his consulting experience at Ernst and Young, Sehyung also worked in business process management consulting for a venture capital start-up company in
Boston, MA, now part of EMC, a multi-billion dollar publicly traded company. Having worked with executives and managers of such Fortune 500 companies as Verizon,
General Electric, Unisys, and Honeywell, he has a unique insight into the real estate needs and requirements of a variety of businesses that he can translate to meet the needs and requirements of his clients in varying scales.
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
Cheri Mascitelli
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Matthew C. Sullivan -
Sehyung Kim -
Lee & Associates
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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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LA Fashion District Retail with Parking | 510 E Olympic Blvd
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