For Sale: Multi-Tenant Property in Glendale | 3601 N Verdugo Rd
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For Sale: Multi-Tenant Property in Glendale 3601 N Verdugo Rd
6,371 SF 37% Leased Retail Building Glendale, CA 91208 £2,524,725 (£396/SF) 4.73% Net Initial Yield
Investment Highlights
- Multiple Use property including Retail, Office, and Warehouse
- In place rental income from existing tenants with flexible lease terms
- The property has a conveniently accessible parking lot with 15 regular parking spaces and 2 tandem parking spaces
- Strategically located on the signalized corner of N Verdugo Blvd. and Broadview Drive.
- Nestled in the Montrose Shopping Park district, a thriving area featuring nearly 250 businesses and over 7,000 households within a 1 mile radius
- Well-connected via major freeways including the I-210 and State Route 2 ("Glendale Freeway")
Executive Summary
illi Commercial Real Estate is pleased to present 3601-3609 North Verdugo Road and 1913-1917 Broadview Avenue, a generational asset located in North Glendale, just steps away from the Montrose Shopping Park district.
The property consists of three separate buildings, totaling approximately 6,371 square feet, on a 12,478 square foot corner parcel on a signalized intersection. Benefiting from historically high occupancy, the project has been an excellent family operated investment for many years. With long-term tenants who currently have short-term leases in place, an investor can benefit from a flexible future for the asset. One may negotiate new terms with existing tenants, replace tenants with new higher paying operators, occupy all or a portion of the project for onesself, or possibly consider a full redevelopment of the land. Don’t miss this opportunity to own a prime piece of a thriving Los Angeles suburb.
The property consists of three separate buildings, totaling approximately 6,371 square feet, on a 12,478 square foot corner parcel on a signalized intersection. Benefiting from historically high occupancy, the project has been an excellent family operated investment for many years. With long-term tenants who currently have short-term leases in place, an investor can benefit from a flexible future for the asset. One may negotiate new terms with existing tenants, replace tenants with new higher paying operators, occupy all or a portion of the project for onesself, or possibly consider a full redevelopment of the land. Don’t miss this opportunity to own a prime piece of a thriving Los Angeles suburb.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
6,371 SF
Building Class
C
Year Built
1948
Price
£2,524,725
Price Per SF
£396
Net Initial Yield
4.73%
NOI
£119,419
Percent Leased
37%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.51
Lot Size
0.29 AC
Frontage
134 ft on North Verdugo Road
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalised Intersection
Walk Score ®
Walker's Paradise (94)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5615-001-023 | Improvements Assessment | £132,070 |
| Land Assessment | £197,870 | Total Assessment | £329,941 |
PROPERTY TAXES
Parcel Number
5615-001-023
Land Assessment
£197,870
Improvements Assessment
£132,070
Total Assessment
£329,941
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For Sale: Multi-Tenant Property in Glendale | 3601 N Verdugo Rd
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