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109-111 N Fairfax Ave 3,000 sq ft 100% Let Retail Property Los Angeles, CA 90036 £2,628,243 (£876.08/sq ft)
INVESTMENT HIGHLIGHTS
- Exceptional location, situated between 3rd St + Beverly Blvd
- Adjacent to CBS TV City, Original Farmers Market + the Grove
- 2-unit property leased to popular, established restaurant tenants
EXECUTIVE SUMMARY
This highly sought-after 2-unit commercial property is home to the well-known Chao Krung Thai Restaurant and the other space is currently vacant. Superbly located, the property is positioned between Beverly Boulevard and 3rd Street, situated directly across from CBS Television City, soon to undergo a transformative $1 billion+ redevelopment. The property further benefits from its prime location just north of and across the street from The Original Farmers Market and The Grove, two of Los Angeles’ most popular retail and dining destinations.
Onsite parking: 6 shared spaces.
Additional enclosed storage area behind the building – Leased To 111 N. Fairfax Ave.
Soaring traffic counts: Fairfax Ave + Beverly Blvd - 38,888 CPD.
Buyer has been informed that Seller may engage in a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code. Buyer agrees to reasonably cooperate with Seller to complete the exchange. This exchange will cause no additional expense or liability to Buyer.
Price + financial prospectus available upon request.
Onsite parking: 6 shared spaces.
Additional enclosed storage area behind the building – Leased To 111 N. Fairfax Ave.
Soaring traffic counts: Fairfax Ave + Beverly Blvd - 38,888 CPD.
Buyer has been informed that Seller may engage in a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code. Buyer agrees to reasonably cooperate with Seller to complete the exchange. This exchange will cause no additional expense or liability to Buyer.
Price + financial prospectus available upon request.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Shopfront
Property Size
3,000 sq ft
Costar Property Class
C
Year Built
1948
Price
£2,628,243
Price per sq ft
£876.08
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.49
Total Plot Size
0.14 ac
Use Class
C2 - general commercial district for medium to high-intensity
Parking
6 Spaces (1 Spaces per 1,000 sq ft Leased)
Frontage
58 ft on N Fairfax Ave
Walk Score®
Excellent pedestrian access (98)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 5511-001-007 | Improvements Assessment | £289,124 |
| Land Assessment | £2,906,961 | Total Assessment | £3,196,086 |
PROPERTY TAXES
Parcel Number
5511-001-007
Land Assessment
£2,906,961
Improvements Assessment
£289,124
Total Assessment
£3,196,086
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109-111 N Fairfax Ave
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