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$ 6,300,000
Est. payment | /mo
15,470 SqFt
$ 6,300,000
Est. payment | /mo
15,470 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 15,470 sqft
Price per Sqft $407
MLS Listing ID 26660051
Year Built 1990
Lot Size 0.793 Acres
Acres 0.7933
Property Description
Park Broadway Shopping Center is a 15,470-square-foot, multi-tenant retail strip center occupying a prominent full-block position on South Broadway in Los Angeles. Situated on approximately 34,522 square feet of land, the property comprises eleven retail suites ranging from 500 to 4,939 square feet and is currently 95.48% occupied by a diverse mix of internet-resistant, service-oriented tenants. The tenant roster includes a fast-food operator, coin laundry, medical office, chiropractic practice, nail salon, wireless retailer, donut shop, insurance agency, and tax service businesses that serve daily needs and generate consistent foot traffic regardless of broader e-commerce trends. The center benefits from a generous parking ratio of 3.1 spaces per 1,000 square feet, a meaningful competitive advantage in an urban infill environment where parking is often scarce. The property is offered at $6,990,000, representing approximately $452 per square foot and a projected cap rate of 6.41% upon full implementation of the triple-net leases already in place.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAC2
Exterior
Garage Spaces 48.0
Building
Story 1
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by NAI Capital Commercial Inc.
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