The subject property is a 3,600 square foot free-standing retail property. Currently 1,900 square feet is occupied by the Seller and IBC Sales Corporation (Interstate Bakery), occupies 1,700 square feet of the 3,600 square feet and is currently on a month-to month tenancy paying $3,500/month modified gross. The Seller bought the property a year ago with plans to open a BBQ restaurant, but has decided to sell this property in order to relocate his operation to downtown Los Angeles. He put a new roof on the property which is less than a year old. This property offers an investor several creative options. If a new Buyer decides to vacate the current tenant and release the entire space to a single tenant who will pay $2.05/ft NNN, it will be a 6.5% cap rate investment with a 5% vacancy factor. It is also a perfect owner/user opportunity for either the entire building or a portion of the building. IBC has indicated to the Seller that they would be willing to pay $3,800/month for their 1,700 square feet ($2.23/ft) if the Seller would negotiate a 2 year lease with them. IBC has been a tenant of the property for over 30 years. A new buyer could also potentially purchase the property and occupy 1,900 square feet as an owner/user and qualify for SBA financing (with over 51% occupancy), with a tenant in place to help offset the mortgage payment. For an owner/user who wants to occupy the entire building, it offers a great corner location with a stand alone building, good signage, and 16 parking spaces on a high traffic count street.

Property Type: Retail
Year Built: 1968
Level Number: 1
Max Continuous Area: 3,600
Zoning: Hawthorne CM
Listing ID: GE3BF2
Style: Other Style
Building Size: 3,600 SF
Lot Size: 12,785 SF
Area Description

Region: Hawthorne

Property Features
Parking Places: 16