12815-12825 Venice Blvd., Los Angeles, CA 90066
Description
Maher Commercial Realty is please to announce the sale of a commercial building on the corner of Venice Blvd and Beethoven St in Mar Vista.
MCR recognized a rare corner lot landbank opportunity with internet resilient tenants and immediate upside.
Maher Commercial Realty found this property as mis marketed and immediately recognized the upside and the value- of having two second generation restaurant spaces as well as a beer and wine license on premises. During escrow, Maher Commercial Realty was able to pull from their tenant relationships and bring forth multiple LOI’s from interested food and beverage operators, adding immense value.
Sale Price: $3,443,500
Building Size: 5,100 Sq.Ft.
Lot Size: 10,000
Price Per Sq.Ft. (Building): $675
Price Per Sq.Ft. (Land): $344
Buildable Units: +/-40
Cap Rate At Sale: 5.34%
Proforma Cap Rate: 7.42%
Address
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Address 12815 Venice Blvd., Los Angeles, CA 90066, USA
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Country United States
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Postal code/ZIP 90066
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Contact
Jeremy Shore
Property Agent
Jeremy Shore is an experienced professional with over 10 years of working across all aspects of commercial real estate brokerage, management and investment. Since joining Maher Commercial Realty in 2018, Mr. Shore has completed over $70,000,000 in transaction volume, between signed leases and closed sales. On the sales front, Mr. Shore is arranging development, investment, and owner-user transactions across retail, industrial, multifamily, and office product types in the greater Los Angeles area. Mr. Shore dives deep into properties he analyses to find the 'highest and best use' to maximize revenue and valuation for his clients, which include prominent family offices and institutional investment firms. On the leasing side of the business, Mr. Shore has represented owners and tenants of food and beverage spaces, industrial warehouses, general retail and office space. With deep contract knowledge and careful diligence, Mr. Shore strives to complete transactions where at the end of the day, both landlord and tenant are satisfied and can look forward to the start of a years' long relationship. Mr. Shore enjoys the feeling of shaping a neighborhood and providing a home for entrepreneurs to flourish. Mr. Shore takes pride in having a role in improving the communities in which he operates, whether by adding housing to combat Los Angeles' affordability crisis or making a neighborhood more desirable by placing a cafe which becomes a gathering place for locals. In his spare time, Mr. Shore enjoys staying active with cycling, tennis, skiing, and hiking with his wife and dog. BRE#02020539
