VIRTUAL TOUR *See inside for details
FOR SALE 11954-11960 OR LEASE Wilshire Boulevard Los Angeles, CA 90025 Contact
T.C. MACKER | PRESIDENT (310) 966-4352 | [email protected] DRE # 01232033 www.westlacommercial.com
ERICA L. TAYLOR | VICE PRESIDENT (310) 966-4388 | [email protected] DRE # 01948923 www.westmac.com
JENNIFER MOSCOSO | ASSOCIATE (310) 966-4397 | [email protected] DRE # 02044716 www.westlacommercial.com
WESTMAC COMMERCIAL BROKERAGE COMPANY 1515 Sepulveda Boulevard, Los Angeles, CA 90025 310.478.7700 | www.westmac.com Company DRE# 01096973 © 2021 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission. EXECUTIVE SUMMARY
Prime West L.A. Owner-User or Investor Opportunity
WESTMAC Commercial Brokerage Company is pleased to present the opportunity to purchase or lease 11954-11960 Wilshire Boulevard, a two-unit, approximately 5,465 square foot commercial building located on approximately 5,480 square feet of land in premiere West Los Angeles. This is an ideal opportunity for a buyer or tenant looking for prime storefront retail or office space in the highly coveted Brentwood submarket of Los Angeles, CA.
Built in 1936, 11954-11960 Wilshire Boulevard features two (2) commercial units zoned [Q]C2-1L-CDO. 11954 Wilshire Boulevard is approximately 3,465 square feet of highly improved space ideal for retail, office, or showroom space. It is currently vacant. 11960 Wilshire Boulevard is approximately 2,000 square feet occupied by Sparky’s Grooming. Sparky’s has been a tenant since 2006 and is currently on a 3-year term NNN lease expiring July 31, 2023.
The property is well located along Wilshire Boulevard, where over 45,000 cars travel each day (per LA Traffic Department). This prime location benefits from the dense, high-earning demographic that resides in the area, and offers access to the highly affluent neighborhoods of Brentwood, Westwood, and Santa Monica. The property is directly across from ample amenities including: Ross Dress for Less, CVS, Jamba Juice, Rubio’s, Fatburger, and many more. The property offers easy access to the 405 freeway and is less than a 15-minute drive (3 miles) to Downtown Santa Monica.
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 4 OFFERING MEMORANDUM 5 Property INFORMATION
Offering ADDRESS 11954-11960 Wilshire Boulevard Los Angeles, CA 90025
APN 4263-005-041 Summary BUILDING SIZE ± 5,465 SF (4,730 SF per tax record) LOT SIZE ± 5,480 SF ASKING PRICE $5,465,000 TYPE Commercial/Retail; Office; Showroom OCCUPANCY 37% Leased PRICE PSF $1,000 per square foot BUILT 1936 LEASE RATE $3.45/SF/Month, NNN COMPOSITION One [1] floor with two [2] units (CAM Charges equal ±$0.75) ZONING LAC2 AVAILABLE SF ± 3,450 square feet
SCAN OR CLICK To View a Virtual Tour.
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 6 11954-11960 Wilshire Boulevard
OFFERING MEMORANDUM 7 Property HIGHLIGHTS
OUTSTANDING WEST LA VISIBILITY • Excellent signage opportunity for brand exposure located along Wilshire Boulevard, a major traffic artery with an estimated ±45,000 CPD.
POPULAR RETAIL CORE • Surrounded by popular national retailers and local businesses. The area services Brentwood and West Los Angeles residents and students from UCLA. AFFLUENT DEMOGRAPHICS • The subject property is located in the Brentwood submarket of Los Angeles. Brentwood is one of L.A.’s most luxurious communities. The median household GOSHEN A income within a 3-mile radius of the subject property is estimated at $91,656, while the average household income is estimated at $123,634. VENUE
AMENITY RICH AREA • The site is located in an exceptional retail market that serves the large surrounding residential neighborhoods. Immediate retailers include Ralph’s, Literati Cafe, CVS and US Bank.
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 8 NEIGHBORS
FEDEX KFC SUBWAY WIL CALIFORNIA HOME FITNESS SHIRE BOULEV
LAZY DAISY CAFE BELLE VIE FOOD & WINE TEXA COST AVENUE ARD ARMA S A MC DONALDS VENUE ROSS DRESS FOR LESS VENUE OCKTON A CALIFORNIA PITA GRILL SUBJECT BR
NORTHERN CAFE NINA’S KITCHEN BATH & HARDWARE COCO ICHIBANYA CALIFORNIA WOK VENUE CVS SALTAIR A LADY CHOCOLATT
KLT FLORAL
GOSHEN A SCHOOL OF ROCK
VENUE WIL RALPHS SHIRE BOULEV PETSTAURANT STARBUCKS
ARD
LITERATI CAFE
US BANK
OFFERING MEMORANDUM 9 Tenant OVERVIEW
11954 WILSHIRE BOULEVARD 11960 WILSHIRE BOULEVARD
AKM Management Company, LLC LESSEE and Sparky’s, LLC USE Pet Grooming COMMENCEMENT August 1st, 2020 EXPIRATION July 31st, 2023 ±3,465 SF $3.45/SF/MONTH NNN BASE RENT $7,052.50 CAM EXPENSES $1,314* SECURITY DEPOSIT $8,366.50 LEASE RATE $3.45 per square foot, per month ANNUAL INCREASES None SIZE ±3,465 square feet OPTION TO EXTEND None Triple Net ($0.75 CAM charges or LEASE TYPE approximately $2,587/month) RIGHT OF FIRST None REFUSAL TERM One [1] to three [3] years
* Lessor shall remain responsible for the exterior roof and structural elements of the buildings. Lessor reserves the right to notify Lessee in writing, of any increases to the Estimated Triple Net Cost Expenses paid by Lessee, each month, to prevent shortfall
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 10 Property PHOTOS
OFFERING MEMORANDUM 11 11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 12 OFFERING MEMORANDUM 13 11954 Wilshire FLOOR PLAN
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 14 OFFERING MEMORANDUM 15 Area SUMMARY & Highlights
BRENTWOOD The subject property borders and attracts consumers from the the south, the Santa Monica city limits on the southwest, the border of Brentwood neighborhood. One of West Los Angeles, California’s Topanga State Park on the west and Mulholland Drive along the ridge premier neighborhoods with affluent demographics. The 2000 U.S. line of the mountains on the north. Census counted 31,344 residents in the 15.22-square-mile Brentwood neighborhood—or 2,059 people per square mile, among the lowest A popular area for dining and coffee for local residents is located in population densities for the city and the county. In 2008, the city Brentwood Village at the intersection of Barrington and Sunset. More estimated that the population had increased to 33,312. In 2000 the than a dozen restaurants and coffee shops are located within a two- median age for residents was 35, which was old for city and county block stretch offering a wide variety of cuisine. neighborhoods. The percentages of residents aged 50 and older were among the county’s highest. With housing ranging from luxury hillside homes to both luxury and affordable housing multi-family complexes, Brentwood boasts a wide Brentwood is located at the base of the Santa Monica Mountains, range of great places to live. bounded by the San Diego Freeway on the east, Wilshire Boulevard on
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 16 Area DEMOGRAPHICS
FROM SUBJECT PROPERTY
POPULATION 1-MILE 3-MILE 5-MILE
Population (2020) 52,802 264,470 535,335
Population (2025 Forecast) 53,657 266,580 538,630
HOUSEHOLD 1-MILE 3-MILE 5-MILE
Households (2020) 27,159 121,643 243,587
Med. Household Income (2020) $92,360 $98,373 $97,013
Avg. Household Income (2020) $118,796 $130,538 $130,303
BUSINESS 1-MILE 3-MILE 5-MILE
Total Businesses 4,705 25,665 48,246
Total Employees 36,405 320,881 510,385
Total Consumer Spending $759,406,727 $3,685,714,960 $7,395,842,047
OFFERING MEMORANDUM 17
B B
U U
N N
D D
Y Y
D D
R R
I I
V V
E E
WILSHIRE BOULEVARD WILSHIRE BOULEVARD
11954-11960 Wilshire Boulevard
BUND
Y DRIVE
S S
L L A A
R R B B
T T
A A R R I I A A
T T K K C C O O
E E U U N N E E V V
A A N N O O
E E U U N N E E V V
11954-11960 W WASHINGTON BOULEVARD | LOS ANGELES, CA 18 DISCLAIMER
This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company or by the Seller.
This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
The contents herein are confidential and are not to be reproduced without the express written consent. It should be noted that any and all market analyses, estimates and projections contained in this Offering are provided for general reference purposes only and are based on assumptions related to the general economy, competition, real estate market trends, and other factors beyond the control of the Seller or Broker.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise,
incurred by them.
R R B B
T T K K C C O O
A A N N O O
E E U U N N E E V V
OFFERING MEMORANDUM 19 Contact
T.C. MACKER | PRESIDENT (310) 966-4352 | [email protected] DRE # 01232033 www.westlacommercial.com
ERICA L. TAYLOR | VICE PRESIDENT (310) 966-4388 | [email protected] DRE # 01948923 www.westmac.com
JENNIFER MOSCOSO | ASSOCIATE (310) 966-4397 | [email protected] DRE # 02044716 www.westlacommercial.com
WESTMAC COMMERCIAL BROKERAGE COMPANY 1515 Sepulveda Boulevard, Los Angeles, CA 90025 310.478.7700 | www.westmac.com Company DRE# 01096973