MLS® ID: DW19010431

17020 Chatsworth Street

Granada Hills, California, 91344

$9,395,000 Active
  • - SQFT
The property consists of a single story 99 Cent Only Store along with a two story multi-tenant retail / office building. 99 Cent Only has recently exercised their fifth option to extend their lease. That option period begins in February 2019. They have one remaining 5 year option beginning in February 2024. 99 Cent Only has been at this location for over 20 years and although they do not report sales for this location, the store is always busy and 99 Cent Only is reporting expected 2018 company revenue of $2.25 Billion and 8%-8.5% increase in same store sales. The office and retail shop space portion of this offering is where investors will find the value add component. There are currently 6 retail shop units and 34 office suite units. The office portion is equipped with HVAC and an elevator. All of the office suites are currently on month to month lease terms and the average rent is only $1.18 gross per sq. ft. The rents on these units should be increased to market levels of $2.00 gross per sq. ft., delivering a pro forma cap rate of 8%. The property sits on a massive 1.8 acre lot with approximately 125 parking stalls. The property also has strong future development potential of commercial or residential units with C 1- 1VL zoning.
Read More

Listing courtesy of Apex Properties

Amenities

  • Full baths
    0
  • Half baths
    0
  • Three-quarter Baths
    0
  • Total Baths
    0
  • Zip
    91344
  • Office name
    Apex Properties
  • SQFT
    0
  • Bedrooms
    0
  • Property type
    Office
  • Year built
    1962
  • Lot size
    79109.00
  • Heating
    Forced Air
  • Tax year
    0
  • Agent name
    Chris Comfort
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $2m+
  • Square Feet Range
    < 1000 sq ft.
  • Year Built Range
    1989 (and earlier)
  • Office ID
    YAPX
  • Agent ID
    YCOMFCHR

Location

Have questions?

We can help.

Let's chat!

First Name
Last Name
Email
Phone
Best time to call

Success!

We'll get in touch with you soon.

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info