For Sale | 16,397 SF Office Building

23480 Park Sorrento, Calabasas, CA

   SOLD!   

$6,975,000

Price

3.28%

Cap Rate

$228,941

NOI

Overview
Cap Rate
3.28%
NOI
$228,941
Building Size
16,397 sqft
Lot Area
2.65 acres
Occupancy
65.19%
Year Built
1974
Price Per Sqft
$425.38
Description

Marcus & Millichap is pleased to present 23480 Park Sorrento, a 16,397 SF office building on 83,999 SF of land. This unique investment opportunity is zoned CMU and lies in the center of the affluent city of Calabasas. Calabasas is a city in Los Angeles County, California, United States, located in the hills west of the San Fernando Valley and in the northwest Santa Monica Mountains between Woodland Hills, Agoura Hills, West Hills, Hidden Hills, and Malibu. 23480 Park Sorrento has a prime location in the celebrity-renowned business district. Situated just south of the 101 Freeway, one of Los Angeles major East West thoroughfares, the property is surrounded by affluent neighborhoods, home to expensive residences, as well as fine dining and entertainment at Carusos, The Commons at Calabasas

The subject property is just east of the highly sought after shopping center, which boasts upscale tenants, such as Sugarfish, Barnes and Noble, Lululemon, Rolex, and Corner Bakery. 23480 Park Sorrento also lies directly next door to the Avanti at the Calabasas Village; Calabasas’ newest high end, mixed-use development offering upscale living, dining, and shopping experience. The Crown Jewel of the San Fernando Valley, Calabasas is home to high profile celebrities, entrepreneurs, and entertainers.

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