4020-4028 W Martin Luther King Jr Blvd - Storefront FOR SALE


Los Angeles, CA 90008- Crenshaw
$4,250,000 USD
310-658-3375
4020-4028 W Martin Luther King Jr Blvd, Los Angeles, CA for Sale
$4,250,000 USD
Storefront - FOR SALE
1/6
null | Request Cap Rate

4020-4028 W Martin Luther King Jr Blvd
Los Angeles, CA 90008
Crenshaw


HIGHLIGHTS

  • Restaurant or Medical Conversion Opportunity - 2021 Restaurant Certificate of Occupancy Modified Due to Reduced Parking Requirements
  • 24,937 Potential Development Site - Rear Alley Access 20 Foot
  • 200 Feet of MLK Frontage
  • 2 Free Standing Buildings - Multi-Tenant Street Level Retail
  • MTM Tenancy / Modified Gross Leases - Immediate Upside w/ NNN Leases
  • 9 Tenants - 2 Buildings - Generous Parking Ratio

OVERVIEW

Baldwin Village multi-tenant retail opportunity situated on 24,937 square foot parcel. There are two free-standing retail buildings with 200 Feet of Martin Luther King Jr. Blvd frontage. The current tenancy has a diverse tenant mix which are all on month-to-month leases, paying only their own electrical meter (Modified Gross). An Owner-user can immediately capture the upside for any of the unused square footage by implement NNN leases and raising to market rents or an investor could boost up their Cap Rate with these long-term seasoned tenants. The Zoning and State Enterprise Zone will allow Medical Office or Restaurant conversion with the reduced parking requirements under this designation. In 2021 due to this reduced parking concession allowed, the Certificate of Occupancy was modified from Grocery Store to Restaurant It's situated in density location and adjacent to the Baldwin HIlls Crenshaw Mall.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$462 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

25K Lot - 2 Free Standing Retail Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,737 SF

ZONING

C1.5-1-SP

APN/PARCEL ID

5032-007-002

ASK ABOUT THIS PROPERTY

Jay MartinezKidder MathewsMore Info
310-658-3375

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Jay MartinezKidder MathewsMore Info
310-658-3375

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.