freeway visible multi-tenant retail & office investment€¦ · 3 13305-29 moorpark st sherman...

CARTER D’AURIA· Senior Associate

818.501.2212 x132· [email protected]

DRE #01975444

GREG OFFSAY· Vice President, Sales & Leasing


DRE #01837719

TODD NATHANSON· President


DRE #00923779

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage are approximate. References to neighboring retailers are subject to change, and may not be adjacent to the vacancy being marketed either prior to, during, or after signing. Buyer must verify the information and bears all risk for any inaccuracies.

CALABA SA S CANYON CENTER FREEWAY VISIBLE MULTI-TENANT RETAIL & OFFICE INVESTMENT



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The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be

reviewed only by the party receiving it from illi Commercial Real Estate and should not be made available to any other

person or entity without the written consent of illi Commercial Real Estate. This Marketing Brochure has been prepared to

provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the

subject property. The information contained herein is not a substitute for a thorough due diligence investigation. illi

Commercial Real Estate has not made any investigation, and makes no warranty or representation, with respect to the

income or expenses for the subject property, the future projected financial performance of the property, the size and

square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos,

the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial

condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject

property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;

however, illi Commercial Real Estate has not verified, and will not verify, any of the information contained herein, nor has illi

Commercial Real Estate conducted any investigation regarding these matters and makes no warranty or representation

whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate

measures to verify all of the information set forth herein.

The subject property contains operating businesses. Do not disturb tenants or speak with staff of businesses about this offering.

CALABA SA S CANYON CENTER CONFIDENTIALITY & DISCLAIMER



DRE #01975444



DRE #01837719



DRE #00923779


illi Commercial Real Estate is pleased to present an opportunity to purchase the Calabasas Canyon Center, an exceptional

multi-tenant commercial property located along the 101 Freeway at the Las Virgenes Road exit. The site consists of two

buildings, on two adjacent parcels, including retail, convenience, and office units, as well as an AT&T cell tower.

The Shopping Center, which was built circa 1989-1990 with a combined Building Area of 13,839 SF situated on 38,468 SF of

Commercially Zoned land offers a prime location with direct visibility and access to both the 101 Freeway and Las Virgenes

Road, one of the main thoroughfares in Calabasas, one of the most affluent and desirable suburbs of Los Angeles.

With long-term tenants, recent exterior paint and shopping center improvements, Calabasas Canyon Center is available for

purchase at an asking price of $5,750,000, offering investors ease of management and steady income.

CALABA SA S CANYON CENTER INVESTMENT OVERVIEW



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EXCELLENT LOCATION ON LAS VIRGENES ROAD AND THE 101 FREEWAY

Highly visible to traffic along the 101 Freeway, the property is located

directly adjacent the on & off ramps at Las Virgenes Road.

HIGH TRAFFIC COUNTS

Daily traffic counts of approximately 34,000 vehicles per day on

Las Virgenes Road and 185,000 cars per day on the 101 Freeway.

DAYT IME WORKING POPULAT ION

Great medical and professional neighbors along the 101 Freeway

Corporate Corridor, with nearly 10,000 white-collar employees

within a 1-mile radius.

LONG-TERM STABLE TENANTS

Established retail and office tenants offer a stable income stream,

with upside potential in future rent growth.

AFFLUENT COMMUNITY

Strong suburban demographics with average household incomes

ranging from nearly $113,000—$135,000 in a 1 to 5-mile radius.

CALABASAS LOCATION

Proximate and well situated to serve the communities of

Calabasas, Agoura Hills, Hidden Hills, Westlake, and Woodland Hills.

CALABA SA S CANYON CENTER PROPERTY HIGHLIGHTS



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CALABASAS CANYON CENTER

4937 Las Virgenes

2 PARCELS

4955 Las Virgenes

Tenants Malibu Liquor &

Elegant Look Beauty Salon

Holistic Veterinary Center, Calabasas Animal Clinic,

Canyon Medical Center & Urgent Care, Dentist

Property Type Convenience Store Retail / Office

Approximate Building Size 2,835 SF 11,004 SF

Approximate Lot Size 0.52 AC/ 22,647 SF 0.36 AC/ 15,821 SF

Zoning & Year Built CSCR-SC* - 1990 CSCR-SC - 1989

Parcel Number 2064-001-027 2064-001-028

Parking 10 free Surface Spaces are available;

Ratio of 8.53/1,000 SF

20 Surface Spaces are available;

Ratio of 1.82/1,000 SF

Frontage 120' on Las Virgenes 237' on Las Virgenes Rd & 279' on US-101 Freeway

CALABA SA S CANYON CENTER SITE DETAILS



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Approximate GLA (Building SF) 13,839

Approximate Land Area 38,468

NOI After Sale $308,453

Sale Price $5,750,000

CAP Rate 5.36%

Pro Forma CAP Rate 10.19%

Price/SF (Building) ± $415

Price/SF (Land) ± $149

*Est After Sale **Pro Forma

Income $ 447,204 $ 724,892

Expense $ (138,751) $ (138,751)

Net Income $ 308,453 $ 586,141

Cap At Sale Price 5.36% 10.19%

*Based on 2017 Year End P&L, Tenant Detail Reports + Tax after sale at

Proposed Price

**Based on Average of $3.00/sf Net Rents

CALABA SA S CANYON CENTER FINANCIAL ANALYSIS



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Address City Property Size (SF) Sale Price Sale Price / SF Cap Rate

1 4444 Lankershim Blvd North Hollywood 23,807 $ 10,500,000 $ 441 5.50%

2 252 W. Los Angeles Ave Moorpark 19,556 $ 7,600,000 $ 389 6.00%

3 13305-29 Moorpark St Sherman Oaks 13,265 $ 7,000,000 $ 528 5.00%

4 389 E. Thousand Oaks Thousand Oaks 7,143 $ 2,800,000 $ 392 4.71%

5 18501-17 Ventura Blvd Tarzana 8,768 $ 5,900,000 $ 673

6 20929 Ventura Blvd Woodland Hills 12,000 $ 5,604,332 $ 467

7 12080 Ventura Pl Studio City 13,106 $ 7,000,000 $534

Average 13,949 $ 6,629,190 $ 489 5.30%

CALABA SA S CANYON CENTER RECENTLY SOLD COMPS



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POPULATION

1-mile 22,914

3-mile 177,688

5-mile 600,266

AVERAGE HH INCOME

1-mile $118,974

3-mile $108,988

5-mile $95,516

DAYTIME POPULATION

1-mile 9,879

3-mile 87,587

5-mile 352,273

TRAFFIC COUNTS: ±46,358 cars per day on Las Virgenes and the 101 Freeway

Calabasas is one of the most affluent and sought after

communities in Greater Los Angeles. In addition to being a

suburban residential oasis, the city has also become a hub for

many luxury retailers, fine dining restaurants, hotels, and

professional office users.

Real Estate investors are drawn to Calabasas, as is evident by

the numerous development projects in its pipeline. The Las

Virgenes corridor is particularly primed for considerable

economic growth through new developments and upgrades

to existing projects.

Within a few blocks of the Calabasas Canyon Center, Paxton

Calabasas will bring 78 new luxury townhomes, while the West

Village at Calabasas will bring 180 more residential units and

approximately 6,000 square feet of retail, restaurant and

outdoor community gathering facilities.

With its recent off-market acquisition of the Calabasas

Corporate Center, Majestic Asset Management plans to

modernize the 325,016 square foot office complex with

creative finishes and improved outdoor common areas, in an

effort to attract new tech, media and bioscience tenants.

Slated to open in 2019, Choice Hotels International and

Weintraub Real Estate recently unveiled plans for a new 121-

room Cambria Hotel along the 101 Freeway, offering top

notch amenities for both leisure and business travelers alike.

CALABA SA S CANYON CENTER COMMUNITY HIGHLIGHTS AND DEMOGRAPHICS



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DRE #00923779


CALABA SA S CANYON CENTER AERIAL VIEW

freeway visible multi-tenant retail & office investment€¦ · 3 13305-29 moorpark st sherman...

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