Overview

Description

WESTMAC Commercial Brokerage Company and Beitler Commercial Realty Services are pleased to present the opportunity to acquire 11826 San Vicente Boulevard in Brentwood, Los Angeles, a single tenant triple net (NNN) leased retail property located along highly trafficked San Vicente Boulevard, just west of Barrington Avenue.

11826 San Vicente was built in 1950 and fully renovated in 2020, including building structure and systems. The property is approximately 5,926 rentable square feet of storefront retail building situated on approximately 8,751 square feet of land. It is located in the highly affluent and densely populated Brentwood neighborhood, where average household income is estimated at $144,033 within a one-mile radius.

11826 San Vicente is currently leased to a single-tenant, milk + honey, a high-end med spa and salon, on a triple-net basis. The current rental rate is $48,723, with annual 3% increases. The Initial Term of the Tenant’s lease is set to expire on July 31, 2030, and has two (2) additional five (5) year options to extend. The Tenant is responsible for all operating expenses.

The subject property is walking distance to dozens of restaurants and other amenities, including: Mendocino Farms, Whole Foods Market, Sugarfish, Baltaire, Barry’s Brentwood, Starbucks, Katsuya, and more. There is also a Wells Fargo Bank, Chevron, CVS, and a Bank of America all on the same corner. The area boasts a walk score of 92 (Walker’s Paradise).

Highlights

• Single-Tenant NNN Investment Opportunity – Low management property, highly maintained asset, and guaranteed lease.
• Excellent 1031 Exchange Up-Leg Property – 6 years remaining on Lease term, annual 3% increases, and two (2), five (5) year
• Option to Extend.
• Passive NNN Lease – The Tenant is financially responsible for Taxes, Utilities, Insurance, and CAM charges relating to the property.
• Excellent Building Condition – The building was fully renovated in 2020 including building structure and systems.
• Ideal Brentwood Location – Ideal Brentwood location, along the main strip, comprised of high-income levels and strong purchasing power (the average household income is ± $144,000 within a 1-mile radius).
• High Traffic Retail Corridor – Located in the heart of Brentwood, the subject property sits one block away from the corner of San Vicente and Barrington, a corner that sees ±29,000 vehicles per day.
• Ample Area Amenities – The property is walking distance to dozens of restaurants and other amenities, including: Mendocino Farms, Whole Foods Market, Sugarfish, Baltaire, Barry’s Brentwood, Starbucks, Katsuya, and more. There is also a Wells Fargo Bank, Chevron, CVS, and a Bank of America all on the same corner. 92 (Walker’s Paradise).

Documents

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