8151 W 3rd St
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8151 W 3rd St
3,508 SF 100% Leased Retail Building Los Angeles, CA 90048 $5,500,000 ($1,568/SF) 5.18% Cap Rate
Investment Highlights
- Dispensary Lease Personally Guaranteed
- Located in the highly sought after neighborhood of Beverly Grove
- Excellent 1031 Exchange Property
- Recently Renovated
Executive Summary
Lee & Associates, Los Angeles West Inc. is pleased to present for sale, 8151 W 3rd Street, a two-tenant retail building located on a hard corner in the highly sought after neighborhood of Beverly Grove (located between the Beverly Center and the Farmer’s Market).
8151 W 3rd Street is a rare opportunity to purchase a pride of ownership retail asset in a highly coveted area with a stabilized income stream which should appeal to both investors and 1031-exchange buyers.
Totaling ±3,011 square feet, the property is divided into two units: The main unit consists of ±2,528 square feet and is leased to a dispensary until November 30th, 2033. The second unit, which consists of ±483 square feet plus a generous amount of outdoor patio space, is lease to a café, Neighborhood, until March 31st, 2028 . The property has 10 parking spaces plus a single space dedicated to handicapped parking.
8151 W 3rd St. is located in the coveted Beverly Grove part of town, a busy and upper scale commercial district with plenty of options for shopping and dining, including a massive shopping center and chic boutique shops on busy but pedestrian-friendly streets. It's dominated by The Grove and Beverly Center, but the main drags also feature a wealth of foodie-friendly restaurants, trendy independent cafes, art galleries, and high-end shopping.
8151 W 3rd Street is a rare opportunity to purchase a pride of ownership retail asset in a highly coveted area with a stabilized income stream which should appeal to both investors and 1031-exchange buyers.
Totaling ±3,011 square feet, the property is divided into two units: The main unit consists of ±2,528 square feet and is leased to a dispensary until November 30th, 2033. The second unit, which consists of ±483 square feet plus a generous amount of outdoor patio space, is lease to a café, Neighborhood, until March 31st, 2028 . The property has 10 parking spaces plus a single space dedicated to handicapped parking.
8151 W 3rd St. is located in the coveted Beverly Grove part of town, a busy and upper scale commercial district with plenty of options for shopping and dining, including a massive shopping center and chic boutique shops on busy but pedestrian-friendly streets. It's dominated by The Grove and Beverly Center, but the main drags also feature a wealth of foodie-friendly restaurants, trendy independent cafes, art galleries, and high-end shopping.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,508 SF
Building Class
C
Year Built
1977
Price
$5,500,000
Price Per SF
$1,568
Cap Rate
5.18%
NOI
$285,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Land Acres
0.20 AC
Zoning
C2-IVL, Los Angeles
Parking
11 Spaces (3.14 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Walker's Paradise (94)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5511-020-030 | Improvements Assessment | $892,413 |
| Land Assessment | $4,852,506 | Total Assessment | $5,744,919 |
PROPERTY TAXES
Parcel Number
5511-020-030
Land Assessment
$4,852,506
Improvements Assessment
$892,413
Total Assessment
$5,744,919
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Paul Brehme -
Aleks Trifunovic -
Lee & Associates - West LA
1 of 18
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8151 W 3rd St
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