Deal numbers
A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.
Property details
- Bedrooms
- 4
- Building size
- 6,830 sqft
- Lot size
- 8,000 sqft
- Year built
- 1954
- Stories
- 0
- Heating
- Heat Pump
- Status
- Active
- Days on market
- 99
- MLS #
- 245108816
About this property
WESTMAC Commercial Brokerage Company is pleased to present the opportunity to purchase 12926 Venice Boulevard, a well positioned mixed use retail and live/work or creative office investment located in the highly desirable Venice submarket of Los Angeles. The property consists of approximately 7,968 square feet situated on approximately 7,998 square feet of land and features three ground floor retail suites along with an approximately 3,000 square foot fully renovated second floor penthouse opportunity ideal for an owner user, live/work occupancy, or creative office use.Positioned on the Southwest corner of Venice Boulevard and Lyceum Avenue, the property benefits from strong visibility, consistent vehicular traffic, and immediate access to surrounding Westside neighborhoods including Venice, Mar Vista, Santa Monica, and Culver City. The penthouse additionally features exclusive access to an approximately 2,000 square foot private rooftop deck not included in the building square footage, creating approximately 5,000 square feet of total indoor/outdoor penthouse space. The rooftop deck is exclusively designated for the penthouse space and is not accessible to the ground floor tenants. The property additionally includes rear on site parking for approximately nine (9) vehicles.The property is occupied by a curated mix of retail and service oriented tenants including Angel City Pizza, re_grocery, and Enter Martial Arts, creating strong tenant synergy and an activated street presence along Venice Boulevard. Existing leases include scheduled rental increases, tenant reimbursements, and limited landlord responsibilities, providing stable in place income.The offering is currently stabilized by the ground floor retail tenancy and includes a vacant 3,000 square foot second floor penthouse opportunity ideal for an owner user to live/work while benefiting from the existing income generated by the ground-floor retail tenants.
Location
12926 Venice Boulevard
Los Angeles, Los Angeles, CA, 90066