|
|
9/29/23
|
A 3.2k sf retail storefront in Los Angeles traded for $2.7 mil, or $849/sf. Located at 5818 W 3rd St, just west of La Brea Ave, on trendy 3rd Street, the property enjoys a thriving location with a high traffic count of 34.4k, making it an ideal destination for businesses seeking maximum exposure.
Surrounded by a wealth of retail establishments along 3rd St and La Brea Ave, the building’s location provides an abundance of foot traffic and a bustling atmosphere. The property is also within walking distance to renowned attractions such as The Grove, The Beverly Center, museums, parks, theaters, and numerous local hotspots, providing an enticing allure for both employees and customers.
Tim Steuernol and Rob Zaharia with NAI Capital Commercial represented the seller, Dash Family 2009 Trust, in the transaction. According to Steuernol, the family trust had owned the asset for over 20 years.
Zaharia said, “This versatile space, currently occupied by a high-end architectural firm on a month-to-month lease with rent significantly below market rate, opens doors to various possibilities, including office, retail, and medical use. We are witnessing significant interest from investors for well-located, high-quality retail assets like this one.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
