Banquet Hall & Strip Center Portfolio 6451-6453 Van Nuys Blvd

Kidder Mathews is pleased to present for sale a multi-tenant retail center and banquet hall buildings, at the highly trafficked intersection of Van Nuys Blvd and Gilmore St in the epicenter of the San Fernando Valley. The portfolio is comprised of 16,000 square feet spread across three buildings and four different parcels on approximately 28,300 of total square feet of Tier 4 TOC land. The stripcenter properties are contiguous and they are ideal properties for an owner-user looking to occupy a portion, such as a law firm or other uses, who benefit being in proximity to the goverment center/court house. The other batch of parcels are a banquet hall and parking lot, which could be a tremendous opportunity for an Banquet Hall Operator looking to convert existing church use back to the lucurative cash business of hosting events, in this density populated Van Nuys pocket. The banquet hall building is tied by covenant to the adjacent 8,251 square foot parking lot and this pair must be sold together. The strip center buildings must also be sold together as they too are tied by covenant.
Any unused square footage could be supplement income stream for a Buyer, along with rental upside with the month-to-month and short-term tenancy. The banquet hall has a Certificate of Occupancy for that use with 140 occupancy limit.
Seller is also offering qualified buyers, up to 80% Loan-to-Value and interest only loan payments for up to 5 years.