Owner User Penthouse | Mixed Use Investment | Venice, CA

Highlights:

• Stabilized mixed use retail investment with in place income
• Live and work upstairs for free while downstairs tenants cover the cost
• Ideal for owner user, live/work, or creative office occupancy
• Exclusive ±2,000 SF private rooftop deck for penthouse use only
• Approximately 5,000 SF of total indoor/outdoor penthouse space
• Curated tenant mix including Angel City Pizza, re_grocery, and Enter Martial Arts
• Annual rental increases and favorable lease structures: NNN leases
• Rear on site parking for approximately nine (9) vehicles
• Prime Venice corner location with strong visibility and traffic counts
• Strong Westside demographics with high household incomes and consumer spending power

Description:

WESTMAC Commercial Brokerage Company is pleased to present the opportunity to purchase 12926 Venice Boulevard, a well positioned mixed use retail and live/work or creative office investment located in the highly desirable Venice submarket of Los Angeles. The property consists of approximately 7,968 square feet situated on approximately 7,998 square feet of land and features three ground floor retail suites along with an approximately 3,000 square foot fully renovated second floor penthouse opportunity ideal for an owner user, live/work occupancy, or creative office use.

Positioned on the Southwest corner of Venice Boulevard and Lyceum Avenue, the property benefits from strong visibility, consistent vehicular traffic, and immediate access to surrounding Westside neighborhoods including Venice, Mar Vista, Santa Monica, and Culver City. The penthouse additionally features exclusive access to an approximately 2,000 square foot private rooftop deck not included in the building square footage, creating approximately 5,000 square feet of total indoor/outdoor penthouse space. The rooftop deck is exclusively designated for the penthouse space and is not accessible to the ground floor tenants. The property additionally includes rear on site parking for approximately nine (9) vehicles.

The property is occupied by a curated mix of retail and service oriented tenants including Angel City Pizza, re_grocery, and Enter Martial Arts, creating strong tenant synergy and an activated street presence along Venice Boulevard. Existing leases include scheduled rental increases, tenant reimbursements, and limited landlord responsibilities, providing stable in place income.

The offering is currently stabilized by the ground floor retail tenancy and includes a vacant ±3,000 square foot second floor penthouse opportunity ideal for an owner user to live/work for free at a 3.8% cap rate, or as a lease-up opportunity to a 6.21% cap rate.

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