5321 Laurel Canyon BlvdLos Angeles, CA 91607

Property Details for 5321 Laurel Canyon Blvd

Year built

1967

Lot size

0.22 AC

Property size (Sq ft)

6,490 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents the fee simple ownership (land and building) of a Shakey's Pizza restaurant in Los Angeles, CA. Located at 5321 Laurel Canyon Blvd, Los Angeles, CA 91607, this 6,490 square foot restaurant sits on a 0.22-acre lot and is zoned C2 - Commercial Zone. The property, built in 1967, boasts a strong location near Universal Studios Hollywood and NOHO West shopping center, benefiting from high traffic counts and a dense population with affluent demographics. The current franchisee tenant has a lease with approximately 8.1 years remaining, including two 5-year options to extend, demonstrating a long-term commitment. The lease features 3% annual rental increases, protecting against inflation. The lease is a triple-net lease (NNN), with landlord responsibilities limited to roof and structure, making this a low-management investment. The asking price is $3,415,000, representing a price per square foot of $526.19 and a cap rate of 5.35%. The current Net Operating Income (NOI) is $182,719. The property includes five parking spaces directly behind the building. An easement and right-of-way exist along the property line

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.1674

Longitude

-118.397

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