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28955 Pacific Coast Highway - Kanan Crossing, Malibu, CA

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28955 Pacific Coast Highway - Kanan Crossing

Malibu, CA 90265 - Pacific Palisades/Malibu Submarket

Property Type:Retail Sub Type:Storefront Retail/Office Status:Existing Year Built:1987
Building Size:15,967 SF Land Area:.43 AC (18,731 SF)
For Sale Price:$9,660,000 Price/SF:$605.00
Cap Rate:-
Parking:23 Surface spaces are available; 13 Covered spaces are available; Ratio of 2.72/1,000 SF
Features:Balcony, Signage, Signalized Intersection, Center Mixed Use

The City of Malibu is a 27-mile strip of Pacific coastline; a beachfront community famous for its warm, sandy beaches, and for being the home of countless movie stars and others associated with the Southern California motion picture and recording industries. Most Malibu residents live within a few hundred yards of Pacific Coast Highway (California State Route 1) which traverses the city; the city is also bounded (more or less) by Topanga and Pacific Palisades to the east, the Santa Monica Mountains to the north, the Pacific Ocean to the south, and Ventura County to the north and west. Its other beaches include Malibu State Beach and Topanga State Beach; its parks include Malibu Creek State Park and the Santa Monica Mountains National Recreation Area.
This irreplaceable office/retail building is situated on one of the busiest corners in the City of Malibu, on Kanan and Pacific Coast Highway. The location offers unbelievable visibility and huge traffic counts for retail and office tenants alike.
Price is not based on current income but for it's potential. 2.5 story bldg over 6000sqft. Street level retail is occupied by Malibu Gym. Professional offices at the upper levels. Note: Bldg sf is 14,378, net rentable 13,500 per owner but tax assessor's is 12,316. Buyer to verify. Owner is getting 3.00/sf for NR area. Potential is at $4.50/sf or $729K per year. Do not disturb tenants.

Neal Golub
(310) 550-2667

Matthew Perlmutter
(310) 550-2538

Alex Kozakov
(213) 613-3031

Patrick W Wade
(213) 613-3071

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