Description
Property Overview
The subject property presents an investor an opportunity to purchase NNN leased retail building occupied by El Pollo Loco through December 2026. This rare drive-thru building offers a variety of future uses.
The tenant recently exercised their second and final options, which extends their lease to December 31, 2021. For the rest of 2020, their rent is $9,918.75. The lease also contains a percentage rent clause, which requires the tenant to pay 4% of their net sales above their rent amount.
This building is situated at the signalized corner of Sepulveda Blvd. and BerrymanAve. with an irreplaceable West LA location. Close to Playa Vista, Westfield Culver City, and Facebook LA.
Property Features
- Irreplaceable West LA location. Close to Playa Vista, Westfield Culver City, and Facebook LA.
- Lot size: 18,417 Sq.Ft.
- Signalized corner of Sepulveda Blvd.
- Building size: 2,234 Sq.Ft.
- Rare drive-thru excellent for future uses
- Traffic count is approximately 60,000cars/day
- NNN leased with strong operator
- Percentage lease that includes 4% of net sales with minimum rent of $9,918.75/month until December 31st 2021. Thereafter, a minimum monthly rent of $11,406.56 until December 31st 2026.
Area Overview: Culver City
Culver City is a suburb of Los Angeles and is one of the best places to live in California. Living in Culver City offers residents an urban/suburban feel. There are a lot of bars, restaurants, coffee shops, and parks. Many young professionals live in Culver City and the public schools are highly rated. The city is soaked in moviemaking history, features a buzzing dining and nightlife scene, which includes globally inspired eateries, gastropubs and cozy cocktail bars. Occupying the MGM lot, which dates back to 1924, Sony Pictures Studios offers behind-the-scenes tours of its legendary sound stages. Other cultural highlights include spare but sophisticated art galleries, playhouses and the storied Culver Hotel. In the early 1990’s, Culver City launched a successful revitalization program in which it renovated its downtown as well as several shopping centers in the Sepulveda Boulevard corridor near Westfield Culver City. The influx of many art galleries and restaurants to the eastern part of the city led to the creation of the Culver City Art District.
