11938 Pico BlvdLos Angeles, CA 90064

Property Details for 11938 Pico Blvd

Year built

1940

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

3,522 SF

Zone code

LAC2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

4259-039-012

APU

4259039012

Description

This exceptional turnkey restaurant opportunity is located at 11938 W Pico Blvd, Los Angeles, CA 90064. The 3,522 square foot building sits on a 4,395 square foot lot and is zoned LAC2. Built in 1940, it underwent renovations in 2018 and 2021. The single-story building offers 100% occupancy until October 31, 2024. The sale includes the real estate and all restaurant equipment, representing a complete turnkey operation. A significant advantage is the inclusion of a Type 47 unrestricted liquor license, enabling a full range of beverage service options. This property enjoys a highly desirable location, benefiting from over 25,000 cars passing daily on Pico Boulevard, providing exceptional visibility and accessibility. Its proximity to the 10 and 405 freeways, along with its walkability (Walk Score of 88) and proximity to the Expo/Bundy Metro Line, ensures convenient access for customers from various locations, including Santa Monica and Downtown LA. The surrounding area boasts strong demographics, with over 300,000 people residing within a 3-mile radius and an average household income exceeding $130,000 annually. This centrally located property, situated between Santa Monica, Culver City, Westwood, and Beverly Hills, presents a rare and unparalleled opportunity for a new or expanding restaurant business. The asking price is $3,795,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,278,899

  6.5%

  $1,180,522

  7%

  $1,096,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,684,694

  Geo Method

  $1,687,754

• Alternative Use

  Use

  Valuation

  Residential

  $995,815

  Hospitality

  $912,161

  Educational

  $758,907

  Medical

  $785,007

  Retail

  $1,180,522

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0296

Longitude

-118.449

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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