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Two Office/Retail Buildings For Sale in West Hollywood, CA

$13,400,000

8229-8235 Santa Monica Boulevard, West Hollywood, CA 90046

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Last Updated: 08/31/2021

21,906 sqft

Combined Building Size

17,615 sqft

Combined Lot Area

Details:
Combined Building Size:    21,906 sqft
Combined Lot Area:    17,615 sqft
Year Built:    2000
Price Per Sqft:    $612
Parking Spots:    47
Highlights:
  • Unique and hard to find retail and office building complex available for sale in prime West Hollywood.
  • Potential Owner/User availability. 8229 Santa Monica currently has two (2) available suites. 8235 Santa Monica has over 50% of its existing tenant base on a month-to-month basis with remaining leases expiring by the end of 2022.
  • Value Add Opportunity. Tremendous upside, as existing rents are under market. This presents a great opportunity for an investor seeking upside potential through lease-up of the vacant spaces and bringing below rents up to market, or for an owner user looking for a headquarters.
  • 8235 Santa Monica Boulevard is well positioned at the corner of Santa Monica Boulevard and Harper Avenue. Both properties are located on the north side of the street between Harper Avenue and Havenhurst Avenue. The intersection at Santa Monica Boulevard and Havenhurst Avenue has an estimated traffic volume is reportedly well-over 50K vehicles per day.
  • Numerous dense residential neighborhoods generate significant demand for area retailers and services. The area is surrounded by an upscale community, populated by a high-earning demographic with a median household income reported at over $89,000 within a 1-mile radius of the subject properties.
  • There is an array of amenities located up and down Santa Monica Boulevard. Trendy retailers and restaurants cater to community residents, neighborhood workforce, and tourists from around the world. Destination retailers within walking distance include Whole Foods, Trader Joe’s, Starbucks, and many more.
  • West Hollywood is one of the most high-profile locations and top-performing submarkets in the Los Angeles metro. Correspondingly, asking rates in the submarket are among the priciest in the metro.
Description:

The Opportunity
8229 Santa Monica Boulevard and 8235 Santa Monica Boulevard are two (2) office/retail buildings for sale in West Hollywood, CA. The combined square footage for both properties is approximately 21,906 square feet (per tax record). The total lot size for both properties is approximately 17,615 square feet

Asking Price
8229 Santa Monica Boulevard and 8235 Santa Monica Boulevard are two (2) separate buildings being sold together. Asking price is $13,400,000 ($612/SF)

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