NNN Retail Center Redevelopment
698 S Vermont Ave Los Angeles, CA 90005
For Sale
$17,950,000
Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.
Property Size16,451 SF
Price / SF$1,091
Days on Market49
Property Features for 698 S Vermont Ave
General Information
Standard status
Active
Size
16,451 SF
Property subtype
Shopping Strip
Building Details
Year Built
1984
Listing Agency:
Marcus & Millichap - Dallas
(972) 755-5283
Listed By:
William Kim · License #License(s): CA: 01344741, TX: 755628, NV: S.0204443
(972) 755-5283
Source:
Marcusmillichap
Added: Jun 9
Changed: Jul 10
Last Checked: Jul 27 at 2:22AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
The property consists of an existing 16,451-square-foot retail center on a 0.6-acre trophy lot. The center is currently fully operational and features 14 tenants on NNN leases, supported by a 605-square-foot building management office. The asset is presented as a redevelopment platform with an emphasis on unlimited-height development opportunity under the existing entitlement framework described in the offering.
The site is located at the signalized northeast corner of Vermont Avenue and 7th Street in Los Angeles. It is positioned in the heart of Koreatown and is described as being one block south of the Wilshire Center corridor, directly across from the Bank of Hope high-rise.
From a development standpoint, the property is marketed with C2-2 zoning and a described 6:1 Floor Area Ratio (FAR). The offering notes residential density defaulting to R4, and it outlines a by-right development approach with flexibility for uses such as premier retail, multi-family luxury apartments, corporate offices, or a flagship mixed-use high-rise. For buyers or operators seeking an existing income-producing retail asset while pursuing a higher-and-better development plan, this site combines an operating tenant base with redevelopment upside supported by the zoning parameters stated in the materials.
The site is located at the signalized northeast corner of Vermont Avenue and 7th Street in Los Angeles. It is positioned in the heart of Koreatown and is described as being one block south of the Wilshire Center corridor, directly across from the Bank of Hope high-rise.
From a development standpoint, the property is marketed with C2-2 zoning and a described 6:1 Floor Area Ratio (FAR). The offering notes residential density defaulting to R4, and it outlines a by-right development approach with flexibility for uses such as premier retail, multi-family luxury apartments, corporate offices, or a flagship mixed-use high-rise. For buyers or operators seeking an existing income-producing retail asset while pursuing a higher-and-better development plan, this site combines an operating tenant base with redevelopment upside supported by the zoning parameters stated in the materials.
Key Highlights
- 0.6‑acre Koreatown site at the signalized NE corner of Vermont Ave and 7th St
- Fully operational 16,451‑SF retail center with 14 tenants on NNN leases
- C2‑2 zoning with 6:1 FAR; residential density defaults to R4
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.
Where is this strip mall located?
The property is located at 698 S Vermont Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $17,950,000.
What are key features of this property?
This property features: 0.6‑acre Koreatown site at the signalized NE corner of Vermont Ave and 7th St; Fully operational 16,451‑SF retail center with 14 tenants on NNN leases; C2‑2 zoning with 6:1 FAR; residential density defaults to R4
