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$ 1,115,000
Est. payment | /mo
2,500 Sqft Lot
$ 1,115,000
Est. payment | /mo
2,500 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26207014
HOA Y/N No
Year Built 2014
Lot Size 2,500 Sqft
Property Sub-Type Mixed Use
Property Description
Absolute NNN with actual 5% CAP and 23-unit mixed-use redevelopment potential. Freestanding restaurant building on a high-traffic stretch of Burbank Blvd in North Hollywood. 100% leased under an absolute triple-net (NNN) lease through 12/31/2029 with a 60-month renewal option. Contractual rent growth is locked in via a Fixed Rental Adjustment schedule. Building constructed in 2014. LAC4 zoning with confirmed Transit Oriented Communities (TOC) Tier 3 status and no minimum parking requirement under state law (AB 2097). Approximately 0.5 miles to the North Hollywood Metro Station (B/Red Line + G/Orange Line). This is a living trust sale -- no court confirmation required. The adjacent parcel at 11486 Burbank Blvd is separately available; combined, the two contiguous parcels support up to 23 mixed-use units across 6 stories under confirmed TOC Tier 3 zoning.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAC4
Interior
Fireplace No
Laundry None
Exterior
Present Use Commercial
Building
Lot Description Street Level
Story 1
Water Public
Others
Tax ID 2350004059
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Trust
Listed by Nick Nekoo Prestige Beverly Hills 310-906-0055, DRE #01337329
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