Los Angeles Infill Redevelopment/ Circle K Ground Lease

Highlights:

• Signalized Corner
• Short Term Lease
• High Traffic Corridor
• ~138,624 Buildable SF
• FAR 6:1
• Low Price/ Buildable SF
• Build ~100 units
• 4 curb cuts

Description:

Marc Perlof Group of Keller Williams Commercial is pleased to exclusively offer a Circle K Ground Lease at 1925 Crenshaw Blvd. Los Angeles, CA 90016. There are approximately 2 years 3 months left on the lease term with no additional options. The lease expires December 31, 2027. The tenant has a Right of First Refusal (ROFR) of 45 days from receipt. This is an ideal redevelopment opportunity for mixed use with apartments over retail.

1925 Crenshaw Boulevard is located on the Southwest signalized corner of Crenshaw Boulevard and Washington Boulevard. Retailers in the immediate area include 7-Eleven, Jack in the Box, Starbucks, Planet Fitness, KFC, Winchells, and more. The combined traffic count is ± 45,730 VPD (Alphamaps). There is ± 193.82' of frontage on Crenshaw Blvd. and ± 166.64' of frontage on Washington Blvd. There are 4 existing curb cuts. Metro Bus Route 35 and Route 210 are within 750' of the subject property.

The property is zoned LAC2-2D-CPIO (West Adams - Baldwin Hills - Leimert). This will allow a developer to build an approximately 138,624 SF building, based on a FAR of 6:1 (Buyer to verify). There is no height limit. By right a Developer can build 58 units. 98 units with the affordable housing density bonus. The property is in a Transit Oriented Community (TOC) Tier 3 area. State Enterprise Zone district also applies. The property is not located in an Opportunity Zone.