6801 Van Nuys Boulevard

Description:

IRREPLACEABLE SINGLE TENANT NET LEASED ASSET IN THE HEART OF THE SAN FERNANDO VALLEY

PLS Financial Services, Inc. (PLS) is one of the largest check cashing companies with over 200 locations in twelve (12) states. The company offers a variety of financial services including, Check Cashing, Money Orders, Bill Payment, Motor Vehicle, Tax Preparations and Money Transfers.

The subject property is a passive Single Tenant Net Leased investment on a highly prominent corner in Urban Los Angeles. The asset is well positioned across the street from the Van Nuys Court House, several day time businesses, and a dense housing stock.

The property, sits on .30 acres, consists of a single story (1) freestanding building totaling 5,811 sq. ft. with ample parking. This strategic signalized corner commands impressive traffic counts that exceed 96,000 cars per day at the intersection of Van Nuys Blvd. and Vanowen Blvd.

The PLS lease includes structured increases of 2.5% annually, providing an inflation hedge. Furthermore, the current rents are below market rates, presenting potential for future income growth as lease terms are renewed.

The lease is thoughtfully structured to allow NNN reimbursement by Tenant, along with a fifteen percent (15%) administrative fee reimbursement on CAMS, excluding taxes., creating a passive investment with minimal operating exposure for the Landlord.

PLS has successfully operated at this location since 2015. Furthermore, the Tenant recently exercised the first (1st) of their remaining two (2), five (5)-year options to extend, showing strong commitment to the location.

Centrally located in Van Nuys, the asset contains an ideal consumer base in a densely populated area. The immediate surrounding vicinity consists of robust trade area with over 46,400 residents within a 1-mile radius, 328,851 within a 3-mile radius, and a daytime population surpassing 278,160 within a 3-mile radius. This creates a continuous stream of consumers round the clock.

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