9 Bay Autobody, Permitted Spray Booth, Office | 18812 Parthenia St
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9 Bay Autobody, Permitted Spray Booth, Office 18812 Parthenia St
5,720 SF 100% Leased Retail Building Northridge, CA 91324 £2,346,111 (£410/SF) 6.87% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 9 Bay Autobody with Permitted Spray Booth and Office
- Next to Autobody Servicing National Accounts
- Bays Separately Metered for Electricity
- 6.9% Current Cap Rate with Upside in Rents
- Month to Month Tenants – Ideal for Owner-user or Leasing out
- Affluent Population
EXECUTIVE SUMMARY
PLEASE SEE ATTACHED MARKETING PACKAGE FOR FULL INFORMATION:
OFFERING SUMMARY: 18812 Parthenia St in Northridge, offers an investor the opportunity to acquire a 5,720 SF automotive property with spray booth. With the leases being month to month, an owner can occupy all or a portion of the building or continue to rent out the bays. The property provides easy access with street to street access from both Parthenia St & Bryant St. The M1 zoning allows any industrial or automotive use. Located between Reseda Blvd & Tampa Ave and with easy access to the 118 Fwy, gives easy access to all clients.
DEMOGRAPHICS: Affluent and dense population with heavy automotive needs. Over 28,000 residents within 1 mile and over 235,000 within 3 miles. Average Household income averages over $94,000 yearly within 1 mile and over $106,000 yearly within 3 miles.
PRICE: $2,950,000 – 5,720 SF on 12,584 SF Lot with a Current 6.9% Cap Rate
OFFERING SUMMARY: 18812 Parthenia St in Northridge, offers an investor the opportunity to acquire a 5,720 SF automotive property with spray booth. With the leases being month to month, an owner can occupy all or a portion of the building or continue to rent out the bays. The property provides easy access with street to street access from both Parthenia St & Bryant St. The M1 zoning allows any industrial or automotive use. Located between Reseda Blvd & Tampa Ave and with easy access to the 118 Fwy, gives easy access to all clients.
DEMOGRAPHICS: Affluent and dense population with heavy automotive needs. Over 28,000 residents within 1 mile and over 235,000 within 3 miles. Average Household income averages over $94,000 yearly within 1 mile and over $106,000 yearly within 3 miles.
PRICE: $2,950,000 – 5,720 SF on 12,584 SF Lot with a Current 6.9% Cap Rate
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,720 SF
Building Class
C
Year Built
1988
Price
£2,346,111
Price Per SF
£410
Net Initial Yield
6.87%
NOI
£161,178
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.44
Lot Size
0.30 AC
Zoning
M1 - Industrial Commercial
Parking
15 Spaces (3.37 Spaces per 1,000 SF Leased)
Frontage
50 ft on Parthenia St
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2785-001-080 | Improvements Assessment | £454,001 |
| Land Assessment | £477,899 | Total Assessment | £931,900 |
PROPERTY TAXES
Parcel Number
2785-001-080
Land Assessment
£477,899
Improvements Assessment
£454,001
Total Assessment
£931,900
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9 Bay Autobody, Permitted Spray Booth, Office | 18812 Parthenia St
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