Prime Tarzana Retail/Office Investment - Ventura Blvd
rime Tarzana Retail/Office Investment Opportunity & Parking Structure | Along Ventura Blvd
Marketing description
Kidder Mathews is pleased to exclusively offer Wall Street Plaza, a ±46,776 SF mixed-use retail and office investment with a dedicated adjacent parking structure at 18645-18663 Ventura Boulevard in Tarzana, California.
Situated at the signalized northeast corner of Yolanda Avenue and Ventura Boulevard, the property commands frontage along one of the most heavily traveled commercial corridors in the San Fernando Valley, with daily traffic volumes approaching 40,000 vehicles along the property frontage and exceeding 41,000 just east of the site.
Wall Street Plaza is a three-story, architecturally distinctive building originally constructed in 1986 and renovated in 2004. The property sits on two parcels totaling approximately ±58,867 SF of land and includes a dedicated adjacent parking structure providing approximately 211 total parking spaces at a 4.3:1,000 SF ratio.
The property is currently approximately 90% leased to a diversified mix of restaurant, medical, financial services, beauty, bridal, and daily-needs tenants, many of whom have long-standing occupancy histories and significant investment in their spaces. With available vacancy for near-term lease-up, in-place rents below current submarket levels, and many tenants operating on gross leases without full CAM reimbursement, Wall Street Plaza presents investors with a rare opportunity to acquire durable in-place income with multiple paths to organic growth through rent resets, NNN conversion, lease-up, and potential parking monetization.
Offered at $16,950,000 ($362/SF of GLA), Wall Street Plaza is priced well below the cost of constructing a comparable building with a dedicated parking structure in today's market. Delivered free and clear of debt, the combination of in-place cash flow, below-market rents, lease-up upside, NNN conversion opportunity, and irreplaceable Ventura Boulevard positioning makes this a rare acquisition for investors seeking both income stability and organic growth.
Investment highlights
- IRREPLACEABLE CORNER ON VENTURA BLVD - Signalized hard-corner positioned on Ventura Boulevard with dedicated parking structures rarely trade. East- and westbound access, monument signage at the intersection, and 211 parking spaces at a 4.3:1,000 SF ratio. For medical, restaurant, and professional tenants where parking is a dealbreaker, this property delivers.
- ONE BLOCK FROM $542M HOSPITAL EXPANSION - Providence Cedars-Sinai Tarzana Medical Center (249 beds, 800+ physicians, 1,450+ employees) is one block east and in the middle of the largest healthcare construction project in Valley history. The new 200,000 SF Friese Family Tower opened October 2023, Phase 2 broke ground 2024, and expansion continues. A growing institutional anchor generating sustained daily foot traffic.
- IMMEDIATE CASH FLOW WITH UPSIDE - Wall Street Plaza offers durable in-place income at approximately 90% current occupancy, with clear upside through lease-up of the remaining vacancy, below-market rent resets, NNN conversion, and potential parking monetization. The property provides investors with current cash flow today and multiple paths to increase net income over time.
- SHORT LEASE TERM ACCELERATES MARK TO MARKET UPSIDE - With a weighted-average remaining lease term of under two years, investors benefit from near-term opportunities to reset rents to current market levels across a meaningful portion of the rent roll. In a below-market rent environment, short WALT provides flexibility to capture organic rent growth and improve lease structures over time.
- CLEAR PATH TO NNN CONVERSION - Most tenants operate on gross leases and are not reimbursing full CAM as allowed under their agreements. Transitioning to NNN on renewal directly increases net income without raising base rents. Combined with potential parking monetization, this is a layered value-add most competing corridor offerings do not provide.
- SUPPLY CONSTRAINED MARKET - The San Fernando Valley retail submarket maintains approximately 5% vacancy with virtually zero new construction deliveries. Limited supply supports sustained occupancy and continued rent growth across the corridor.
- PRICED BELOW REPLACEMENT COST - At $362/SF of GLA, the property is priced well below the all-inclusive cost of constructing a comparable mixed-use building plus dedicated parking structure in today's LA market, where hard costs alone run $350 to $500+/SF before land, entitlements, and carry.
- DEEP TENANT ROOTS & PROVEN DEMAND - Kravings, Della Curva Bridal, Optical Universe, Lili Bridals, Pozi's Greek House, D'Amore's Pizza, and others have been in place for years with significant buildout investment. The property's long-standing tenancy, high-visibility location, and dedicated parking structure support consistent tenant demand, while the remaining vacancy creates a near-term opportunity to add income through lease-up.
- Restaurant, dental/medical, optical, insurance, bridal, beauty, financial services, and legal. No single tenant exceeds 12% of the building. Hospital employees, bridal parties, diners, and dental patients all feed a self-reinforcing foot traffic ecosystem.
- Widely regarded as one of the most unique buildings in the San Fernando Valley. 17-foot ceilings, oak paneling, grand staircase with chandelier, private patios, and award-winning design. The kind of building tenants seek out, stay in, and photograph well for social media-driven businesses.
- Over 163,000 residents and 160,000 daytime workers within 3 miles. Average household income of $147,224, per capita income of $56,987, and average home values exceeding $1.1 million. Nearly 48% of adults hold a bachelor's degree or higher. Consumer spending indexes 120 to 135 above the national average across dining, health care, apparel, and personal care.
- The property includes approximately 211 total parking spaces and existing EV charger infrastructure, creating a clear opportunity for additional income through paid or validated parking and expanded EV charging. Even modest parking revenue could create meaningful incremental income beyond the property's existing revenue streams.
- Full flexibility to acquire all-cash or secure new financing at competitive terms. A clean capital structure removes transaction friction and lets buyers optimize their own leverage and return profile.
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