Mixed-Use Building in Panorama
8741-8751 Van Nuys Panorama City, CA 91402
8741-8751 Van Nuys, Panorama City, CA, 91402
Contact for pricing
For Sale
Contact for pricing
Pending
15,046 SF building suitable for medical or apartment conversion.
Property Size15,046 SF
Lot Size0.59 Acres
Days on Market676
Property Features for 8741-8751 Van Nuys
General Information
- Standard status
- Pending
- Size
- 15,046 SF
- Lot size
- 0.59 Acres
- Property subtype
- Multifamily, Office, Land
Listing Agency
Commercial Real Estate Investments
(310) 826-8200
Listed by
Karl Niehaus · License #CA 01450751
Source
Crexi
Added: Sep 12, 2024 Checked: Jul 19 at 7:06 am
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 Commercial Real Estate Investments
Investment Insights
Based on property information with market context.
The property at 8741-8747 Van Nuys presents an opportunity to acquire an existing 15,046 square foot building that can be converted into a medical office or developed into apartments. An additional 9,155 square foot lot provides abundant parking and supports medical uses. The location offers convenient access to amenities, including two supermarkets within one block, as well as a Walmart, malls, and retailers within three blocks. Transportation options are readily available, with a new rail station under construction three blocks away, providing connections to the Orange, Red, and Metro Link rail lines. Numerous bus lines and easy access to the 405, 5, 118, and 170 freeways further enhance accessibility. The property is situated within a mile of seven schools and just over a mile from the Kaiser Permanente Medical Center. The surrounding area has a high housing demand, with over 73,000 residents within one mile and 175,000 residents within two miles. The average household income is over $71,000 within one mile and $82,000 within two miles. The property is located on a 16,774 square foot land, with an additional 9,155 square foot lot available.
Key Highlights
- Potential for medical office conversion or apartment development of an existing 15,046 SF building.
- Additional 9,155 SF lot provides abundant parking and qualifies the property for medical uses.
- Excellent location with walking access to supermarkets, Walmart, malls, and retailers.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $585.0k | $38.88 |
| − Vacancy | −$108.8k | −$7.23 |
| EGI | $476.2k | $31.65 |
| − OpEx | −$119.0k | −$7.91 |
| NOI | $357.1k | $23.74 |
15,046 SF · lease $38.88/SF/yr · vacancy 18.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.10M
$4.46M – $5.95M
NOI $357,135 @ 7.0% cap · market cap 8.07%
Second Best
Mixed Use
$4.35M
$3.81M – $5.08M
NOI $304,682 @ 7.0% cap · market cap 6.89%
Theoretical Best
Multifamily LT 5
$304.82M
$266.72M – $355.63M
NOI $21,337,605 @ 7.0% cap · market cap 482.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 15,046 SF building suitable for medical or apartment conversion.
Where is this mixed-use property located?
The property is located at 8741-8751 Van Nuys Panorama City, CA.
What is the asking price?
The asking price for this property is $4,425,000.
What are key features of this property?
This property features: Potential for medical office conversion or apartment development of an existing 15,046 SF building.; Additional 9,155 SF lot provides **abundant parking** and qualifies the property for medical uses.; **Excellent location** with walking access to supermarkets, Walmart, malls, and retailers.
