10K+ SF Retail Facility - Great Owner User Or Redev Opp.
Multiple Redevelopment Uses Possible - See OM
Marketing description
Oakmore, on behalf of ownership, is pleased to exclusively offer for sale the opportunity to acquire the 100% fee simple interest of 1427-1431 S Atlantic Blvd, East Los Angeles, CA 90022 (the “Property”). The Property consists of a 10,175 SF building on a 0.53 acre (23,101 SF) parcel of land. The Property is leased to East Los Angeles Women’s Center. The tenant receives government grants, which subsidizes a significant portion of the rent. However, the tenant is operating under an existing lease with one (1) year left of term and no options. This allows an investor to collect rent while re-tenanting the property, or securing permits and entitlements for a redevelopment.
The Property boasts outstanding frontage along Atlantic Blvd, a highly trafficked thoroughfare located just off the Interstate 5 Freeway, which sees more than 232,000 vehicles per day, and close to the 710 Freeway. With ample on-site gated parking and access, the Property provides an easy destination experience for customers. The area surrounding the Property is comprised predominantly of single-family housing, retail and industrial properties.
The Property is a half mile north from Citadel Outlets, an expansive shopping center anchored by Disney Store, Starbucks, Nike, Puma, Chipotle, Converse, Auntie Anne’s, Vans, GUESS, Sketchers, Ruby's Diner, Coach, Tommy Hilfiger, H&M, Under Armour, GAP, and other national many retailers.
Similarly, the Property is half a mile south of Commerce Center, another expansive shopping center anchored by Target, Ross Dress for Less, WaBa Grill, Starbucks, Regency Theaters and several other national retailers.
Given the Property’s close proximity to several national retailers, strong traffic counts, dense infill location and easy access to the I-5 and 710 freeways it makes an ideal redevelopment and/or re-tenanting investment opportunity. Freeway adjacent properties with redevelopment potential rarely become available in Southern California.
Investment highlights
Small Box Redevelopment/Re-Tenanting Opportunity on primary thoroughfare in Los Angeles County. – Current tenant has one (1) year left of term, allowing a developer or owner user the perfect opportunity to reposition the asset for their use.
Potential Uses - Potential uses that may be a good fit include, Discount Grocer, Clothing and Apparel, Medical Office and Urgent Care, Pharmacies, Fitness, etc. With ample gated parking of approximately 28 on site spaces this investment is ideal for multiple retail uses.
Other Uses - Zoning allows for multiple potential uses, including multi family development with large density bonus for affordable housing and some limited Industrial use (please see Development section).
Visible Pylon Signage – The Property benefits from strong visibility from all directions.
Immediately adjacent to the I-5 Freeway (Traffic Counts Exceed 232,000 Cars Per Day) and less than mile from the 710 Freeway (192,000 Cars Per Day). Freeway adjacent properties with redevelopment potential rarely become available in Southern California.
Great Street Frontage and Visibility – This location offers ±225 feet of street frontage along the main corridor Atlantic Blvd. with Strong Traffic Counts exceeding 28,200 Cars Per Day.
Direct Residential Consumer Base - Strong Demographics in 5 Mile Trade Area, with 710,581 Residents and an Average Household Income of $94,918
Desirable asset in the highly competitive and saturated Southern California retail market.
Strong retail corridor with multiple national retailers in the immediate area such as, Disney Store, Starbucks, Nike, Puma, Chipotle, Converse, Auntie Anne’s, Vans, Target, Ross Dress for Less, WaBa Grill, Regency Theaters and many more national retailers.
Proximity to main shopping centers, such as Citadel Outlet and Commerce Center catering to millions of shoppers annually.
Just east of Downtown Los Angeles. Minutes from USC, California Science Center, Montebello Country Club, Kyoto Gardens, Dodger Stadium, Union Station, Chinatown and Olvera Street.
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