Signalized Corner Development
For Sale
$3,999,000
6961 Van Nuys, Los Angeles, CA 91405
Signalized corner property currently includes a mechanic shop and multiple active retail storefronts.
Property Size6,938 SF
Days on Market165
Property Features for 6961 Van Nuys
General Information
Standard status
Active
Size
6,938 SF
Property subtype
Commercial
Building Details
Building Size
6,938 SF
Listing Agency:
Coldwell Banker Quality Properties
Listed By:
Janet Aguilera · License #01488231
(310) 724-7100
Source:
Elliman
Added: May 10
Changed: Oct 20
Last Checked: Oct 20 at 9:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Quality Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This signalized corner development site is currently improved with a mechanic shop and several active retail storefronts. The property is positioned at the intersection of Van Nuys Boulevard and Hart Street in Van Nuys, CA.
An adjacent lot is also currently available for purchase through a different broker, creating the opportunity to assemble contiguous property on the corner. Together, the parcels are described as offering an expansive footprint of approximately 54,000 square feet of contiguous property.
An adjacent lot is also currently available for purchase through a different broker, creating the opportunity to assemble contiguous property on the corner. Together, the parcels are described as offering an expansive footprint of approximately 54,000 square feet of contiguous property.
Key Highlights
- Signalized corner at Van Nuys Blvd & Hart St in Van Nuys, CA
- Approximately 54,000 SF contiguous footprint combining two adjacent parcels
- Current uses include a mechanic shop plus multiple active retail storefronts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,011
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,220,220
$3.2M
Cap Rate 7%
$2,300,157
$2.3M
Cap Rate 9%
$1,789,011
$1.8M
Market Conditions
NOI Build-Up for 6,938 SF
Gross rent
$256.4K $36.96/SF
− Vacancy
−$26.4K −$3.81/SF
EGI
$230.0K $33.15/SF
− OpEx
−$69.0K −$9.95/SF
NOI
$161.0K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,220,220
Cap Rate 7%
$2,300,157
Cap Rate 9%
$1,789,011
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $161,011 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,188 @ 7.0% cap · market cap 2.16%
Theoretical Best
Multifamily LT 5
$140.56M
$122.99M – $163.99M
NOI $9,839,180 @ 7.0% cap · market cap 246.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,266
Businesses Nearby
255k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 24%
Groceries 13%
Electronics 4%
Jons Marketplace
Groceries
34,248 visits/mo
0.4 miles
Starbucks
Dining
30,784 visits/mo
0.2 miles
McDonald's
Dining
24,189 visits/mo
0.1 miles
PLS Financial Services
Shops & Services
17,136 visits/mo
0.2 miles
LUV Car Wash
Shops & Services
15,540 visits/mo
0.3 miles
Demographics for 91405, CA
55,319
Population
19,822
Households
2.8
Avg Household Size
36
Median Age
26%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
16,270
Density / Sq Mi
$61,207
Median Household Income
$34,833
Median Earnings
$1,736
Median Rent
$698,100
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Frequently Asked Questions
What type of property is this?
Commercial land - Signalized corner property currently includes a mechanic shop and multiple active retail storefronts.
Where is this commercial land located?
The property is located at 6961 Van Nuys Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: Signalized corner at Van Nuys Blvd & Hart St in Van Nuys, CA; Approximately 54,000 SF contiguous footprint combining two adjacent parcels; Current uses include a mechanic shop plus multiple active retail storefronts
