966 la cienega boulevard, los angeles, ca 90069

PRIME LA CIENEGA BOULEVARD RETAIL OPPORTUNITY PERFECT FOR OWNER­USER OR INVESTOR 966 LA CIENEGA BOULEVARD, LOS ANGELES, CA 90069 FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 PROPERTY INFORMATION INVESTMENT HIGHLIGHTS ADDRESS:
966-972 North La Cienega Boulevard
Los Angeles, CA 90069
™ Beautiful Bow-Truss showroom with unique architectural
PARCELS:
5529-006-042 & 043
™ Prime location along trendy La Cienega Boulevard,
BUILDING SIZE: Approximately 8,800 square feet
LAND SIZE:
Approximately 8,800 square feet
ZONING:
C4-1VL
PARKING:
Ten (10) spaces: eight (8) tandem spaces
and two (2) individual spaces
™ Highly visible corner location on a high traffic Boulevard.
YEAR BUILT: 1954/1948
™ Multi-Tenant, Single Tenant or Owner User.
SALES PRICE:
$7,250,000 ($823 per square foot)
STORIES:
±6,900 square feet ground floor retail
±1,900 square feet second floor office
PROFORMA RENT:
Ground floor: $5.60, net net net
Second Floor: $1.85, net net net
Blended Rent: $4.80, net net net
details.
adjacent to clubs and restaurants Koi, Area, The Spanish
Kitchen, Nobu, STK and Republic and nearby luxury
retailers Marc Jacobs, Alexander McQueen, Diesel, and
BCBG Max Mara.
INVESTMENT SUMMARY 966 La Cienega Boulevard presents a unique opportunity to purchase an
architecturally striking retail showroom along one of L.A.’s trendiest and
most highly trafficked blocks. Long home to interior designers, furniture
stores and carpet dealers, in recent years La Cienega Boulevard has been
transformed into one of L.A.’s destination areas. From celebrity-studded
nightclubs such as Area, Republic and Koi, to acclaimed restaurants
Nobu and STK, La Cienega Boulevard between Melrose Avenue and
Santa Monica Boulevard has become prime real estate, catering to a
wealthy and discerning clientele. Nearby, luxury retailers Marc Jacobs,
Alexander McQueen and Diesel have set up shop, making the area a hip
retail destination.
966 La Cienega Boulevard features a large, spacious layout, a beautiful
bow-truss ceiling, and its street frontage enables the space to be easily
demised into multiple store fronts, presenting an upscale retailer a
striking setting to sell high-end merchandise.
ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated. FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 PROPERTY IMAGES ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated. FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 NEIGHBORHOOD DESTINATIONS ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated. FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 AERIAL
ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated. FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 AREA MAP ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated. FOR SALE: 966 LA CIENEGA BOULEVARD | LOS ANGELES | CA 90069 SOLD COMPARABLES ADDRESS PRICE SQUARE FEET PSF SALE DATE 812 North La Cienega Boulevard
$3,600,000
3,927
$916.73
04/25/2008
741 North La Cienega Boulevard
$3,350,000
3,887
$861.65
06/13/2007
624-630 North La Cienega Boulevard
$13,900,000
11,588
$1199.51
10/02/2007
CURRENT RENTAL COMPARABLES ADDRESS ASKING PSF SQUARE FEET NOTES 920 North La Cienega Boulevard
$5.15
3,400
800 North La Cienega Boulevard
$8.75
3,222
Achieved rent: $4.41, NNN (October, 2008)
2-story building, inferior visibility with 50%
second floor space.
Full Service Gross
847 North La Cienega Boulevard
$8.00
1,500
NNN
729 North La Cienega Boulevard
$5.50
900
NNN
629 North La Cienega Boulevard
$7.00
2,600
NNN
ALEXANDER B. SACHS BRIAN C. PETERSON STEPHEN J. DEBRO Senior Vice President [email protected] Senior Vice President [email protected] Associate [email protected] COLDWELL BANKER COMMERCIAL WESTMAC 1515 Sepulveda Boulevard, Los Angeles, CA 90025
Tel: 310.478.7700 Fax: 310.479.3989 ©2008 Coldwell Banker Real Estate Corporation. All Rights Reserved. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission. Coldwell Banker Commercial® is a licensed trademark to Coldwell Banker Real Estate Corporation. An Equal Opportunity Company. Each Office Is Independently Owned and Operated Except Offices Owned and Operated by NRT Incorporated.