11021 Pico Blvd Los Angeles, CA 90064-1931

Property Details for 11021 Pico Blvd

Year built

1948

Construction

TILT-UP CONCRETE

Lot size

0.23 lot acres

Property size

6,204 SF

Zone code

LAC2

Property type

Retail space

APN

4322-015-014

APU

4322015014

Description

This exceptional single-tenant retail storefront, located at 11021 W Pico Blvd, Los Angeles, CA 90064, presents a compelling investment opportunity. The property boasts 6,204 square feet on a 10,230 square foot lot and features 18 parking spaces (including 9 tandem stalls). Currently occupied by Barbeque's Galore, a regional credit tenant with 18 locations across California, Arizona, and Texas, this property has enjoyed a long-term lease, with the current tenant occupying the space for the past 22 years. The lease expires on May 14, 2026. This is a rare opportunity, as the property is being offered for sale for the first time in 75 years. The asking price is $48,650,000, representing a price per square foot of $7,841.72 and a strong 5.00% capitalization rate, with a Net Operating Income (NOI) of $2,452,303.20. The one-story building is situated in Los Angeles County and offers significant potential for long-term appreciation and stable cash flow. This is a unique chance to acquire a well-established, single-tenant retail property in a prime Los Angeles location with a proven track record of success. The property's long-term lease history and strong tenant occupancy provide a secure investment with substantial upside potential. Don't miss this opportunity to own a piece of Los Angeles real estate history.