For Sale
$48,650,000

11021 Pico BlvdLos Angeles, CA 90064

High-Cap Rate Storefront in Los Angeles

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional single-tenant retail storefront, located at 11021 W Pico Blvd, Los Angeles, CA 90064, presents a compelling investment opportunity. The property boasts 6,204 square feet on a 10,230 square foot lot and features 18 parking spaces (including 9 tandem stalls). Currently occupied by Barbeque's Galore, a regional credit tenant with 18 locations across California, Arizona, and Texas, this property has enjoyed a long-term lease, with the current tenant occupying the space for the past 22 years. The lease expires on May 14, 2026. This is a rare opportunity, as the property is being offered for sale for the first time in 75 years. The asking price is $48,650,000, representing a price per square foot of $7,841.72 and a strong 5.00% capitalization rate, with a Net Operating Income (NOI) of $2,452,303.20. The one-story building is situated in Los Angeles County and offers significant potential for long-term appreciation and stable cash flow. This is a unique chance to acquire a well-established, single-tenant retail property in a prime Los Angeles location with a proven track record of success. The property's long-term lease history and strong tenant occupancy provide a secure investment with substantial upside potential. Don't miss this opportunity to own a piece of Los Angeles real estate history.

Highlights

  • 18 parking spaces (9 tandem).
  • Single-story building, net-leased to Barbeque's Galore for 22 years; lease expires 5/14/2026. Regional credit tenant with 18 locations.
  • Offered for sale for the first time in 75 years.

Property Details for 11021 Pico Blvd

Property type
Retail properties, Retail space
Square Feet
6,204 SF
Stories
1

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0381605
Longitude
-118.4332678
11021 Pico Blvd, Los Angeles, California

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11021 Pico Blvd
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