Description

Maher Commercial Realty is please to announce the sale of a commercial building on the corner of Venice Blvd and Beethoven St in Mar Vista.

MCR recognized a rare corner lot landbank opportunity with internet resilient tenants and immediate upside.

Maher Commercial Realty found this property as mis marketed and immediately recognized the upside and the value- of having two second generation restaurant spaces as well as a beer and wine license on premises.  During escrow, Maher Commercial Realty was able to pull from their tenant relationships and bring forth multiple LOI’s from interested food and beverage operators, adding immense value.

This transaction was difficult and had many challenges.  Maher Commercial was able to coordinate with the existing tenants, the seller, the listing agent, the lender, and the new prospective tenants to create a win-win for all parties.

 

Sale Price: $3,443,500
Building Size: 5,100 Sq.Ft.
Lot Size: 10,000
Price Per Sq.Ft. (Building): $675
Price Per Sq.Ft. (Land): $344
Buildable Units: +/-40
Cap Rate At Sale: 5.34%
Proforma Cap Rate: 7.42%


40
Bedrooms

Property ID

12815-12825 Venice Blvd., Los Angeles, CA

Property Type

Retail

Status

Sold

Price

$3,443,500.00

Additional Features

N

los angeles commercial real estate

N

los angeles development

N

los angeles investment property

N

maher commercial realty

N

mar vista commercial real estate

N

mar vista development

N

mar vista investment property

N

mar vista redevelopment


Agents

Oron Maher

Oron Maher

Director Broker

  • (310) 464-1453
  • OM@MaherCR.com
  • MaherCR.com
Jeremy Shore

Jeremy Shore

Senior Investment Associate

  • 310-464-1453
  • JS@MaherCR.com
  • MaherCR.com

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