7321 Santa Monica BlvdWest Hollywood, CA 90046
- Retail properties
- 7,522 SF
Property Details for 7321 Santa Monica Blvd
- Year built
- 1958
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.25 AC
- Property size (Sq ft)
- 7,522 SF
- Zone code
- WDC2A*
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 5531-004-049
- APU
- 5531004049
Description
This exceptional West Hollywood restaurant and bar presents a lucrative investment opportunity. Located at 7321 Santa Monica Blvd, in the vibrant West Hollywood submarket of Los Angeles County, California, this single-tenant property boasts 3,200 square feet, inclusive of a permitted al-fresco patio (patio area not included in the 3,200 sq ft). The building itself totals 7,522 square feet and was constructed in 1958. The property features a Type-47 liquor license, allowing for live entertainment and dancing, with permitted hours of operation until 2:00 AM, seven days a week. A new five-year lease is in place, with two additional five-year options available. The asking price for the business assets is $700,000, and the approximate modified gross lease rate is $12,000 per month. This one-story building presents a unique chance to acquire a well-established and profitable entertainment venue in a high-demand location. The property is situated in the 90046 zip code.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,203,752
- 6.5%
- $2,957,310
- 7%
- $2,746,073
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,604,566
- Geo Method
- $3,604,566
-
Alternative Use
- Use
- Valuation
- Residential
- $2,494,601
- Hospitality
- $2,285,041
- Educational
- $1,901,128
- Medical
- $1,966,510
- Retail
- $2,957,310
Location Insight
- City
- West Hollywood
- County
- Los Angeles
- State
- California
- Latitude
- 34.091
- Longitude
- -118.35
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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