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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$992,112
6.5%
$915,796
7%
$850,382
Comparable approach
Method
Valuation
Relative Method
$695,270
Geo Method
$696,533
Alternative Use
Use
Valuation
Industrial / Distribution
$1,782,190
Mixed-Use / Specialty
$914,026
Hospitality / Lodging
$672,539
Office
$910,153
Institutional / Educational
$950,753
Residential Income
$1,112,380
Multifamily
$1,325,840
Automotive / Energy
$814,931
Parking / Income-Based Land
$279,746
Restaurant / Food Service
$478,583
Healthcare / Senior Housing
$935,783
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
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Pico Blvd Los Angeles, CA 90064
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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