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$ 6,300,000
Est. payment | /mo
0.79 Acres Lot
$ 6,300,000
Est. payment | /mo
0.79 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26660051
HOA Y/N No
Year Built 1990
Lot Size 0.793 Acres
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 C42 - Downtown L.A.
Zoning LAC2
Interior
Fireplace No
Exterior
Total Parking Spaces 48
Building
Story 1
Others
Tax ID 5110010034
Special Listing Condition Standard
Listed by Rob Zaharia NAI Capital Commercial Inc. #01404426
Nearby Locations
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3020 Old Ranch Parkway Suite 250, Seal Beach, CA, 90740, US