Florence Plaza Retail FOR SALE


Los Angeles, CA
$18,500,000 USD
213-943-1850
, Los Angeles, CA for Sale
$18,500,000 USD
Retail - FOR SALE
1/3
null | 5.65% Cap Rate

Florence Plaza
Los Angeles, CA


HIGHLIGHTS

  • HIGH VISIBILITY FRONTAGE
  • MAIN & MAIN SIGNALIZED INTERSECTION
  • ESTABLISHED RETAIL CORRIDOR

OVERVIEW

FINANCIAL HIGHLIGHTS RECOVER CONTRACTED NNN REIMBURSEMENTS The Property is currently priced at a 5.65% cap rate based on actual CAM reimbursements of $26,805 (in-line only), which is substantially below what is contractually owed under the leases. With improved property management and proper enforcement of lease terms, a new owner could recover the full CAM reimbursements—boosting NOI by approximately $175,000. MARK-TO-MARKET RENT POTENTIAL With 22 of the 24 tenants lacking renewal options and a WALT of just 2.1 years, Florence Plaza offers near-term flexibility to increase below-market rents. Strategic leasing efforts and repositioning of key spaces can unlock immediate rental upside and improve the quality of the tenant mix. REPOSITION AND RE-TENANT THE ASSET With ±900 feet of frontage along two of the area’s most trafficked corridors, the Property offers significant physical and operational upside. Investors can reconfigure storefronts, expand GLA, and attract stronger national or regional tenants, ultimately driving NOI growth and long-term asset value. CREDIT-TENANT PAD INCOME - BURGER KING PARCEL Included in the offering is a freestanding Burger King drive-thru on a separate legal parcel, operating under a new 10-year lease. This corporatebacked, single-tenant asset contributes stable, long-term income to the overall portfolio and enhances the blended yield profile. The pad also provides additional collateral value and optional liquidity. BREAK-UP SALE STRATEGY FOR MAXIMIZED EXIT VALUE With the Burger King on its own parcel and featuring a long-term net lease, the asset is well positioned for a future break-up sale. A buyer could elect to sell the pad separately at a lower cap rate to a 1031 exchange buyer or net lease investor—unlocking premium pricing while retaining the upside of the core strip center.

ASK ABOUT THIS PROPERTY

Enrique WongMarcus and MillichapMore Info
213-943-1850

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Enrique WongMarcus and MillichapMore Info
213-943-1850

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