4 28-436 LINCOLN BOULEVARD Venice, CA 90291 FOR SALE Retail Office Billboard along Lincoln Boulevard
TABLE OF CONTENTS 4 Executive Summary 6 Property Information 8 Photos 10 Offering Highlights 12 Floor Plan 13 Aerial Snapshot 14 Area Map 16 Market Summary 2018 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. 2
1515 Sepulveda Blvd. Los Angeles, CA 90025 P. 310.478.7700 www.westmac.com Company DRE# 01096973 4 28-436 LINCOLN BOULEVARD Venice, CA 90291 3
EXECUTIVE SUMMARY Coldwell Banker Commercial WESTMAC, as exclusive agent, is pleased to present the opportunity to purchase 428-436 Lincoln Boulevard. 428-436 Lincoln Boulevard is a commercial property situated along one of the most highly-traveled boulevards on the Westside. It is made up of approximately 3,520-square feet of land with a 1,589-square foot, one-story building. The entire property is currently vacant. The property is located on a prime strip of Lincoln Boulevard that is frequently used by commuters and visitors traveling through Venice, and an ideal spot surrounded by walkable amenities, including Whole Foods, Smart & Final, CVS, California Chicken Cafe, Wurstkuche Restaurant, and many others. 428-436 Lincoln Boulevard is located along the East side of Lincoln Boulevard, just North of Sunset Avenue (2 blocks South of Rose Avenue) in Venice. The property is being offered for sale and includes a double-sided billboard. The building is currently vacant, and the billboard has a lease in place. 428-436 Lincoln Boulevard is 1.5 miles to Venice Beach and the famous Venice Beach Boardwalk, which draws thousands of visitors on a daily basis. 4
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PROPERTY INFORMATION ADDRESS 428 Lincoln Boulevard, Venice, CA 90291 NEAREST CROSS STREET BUILDING SIZE** LAND SIZE Lincoln Boulevard and Sunset Avenue ± 1,589-square feet (buyer to verify) per tax record ± 3,520-square feet per tax record APN 4243-018-008 ZONING (Q)C2-1-CDO BUILT 1949 PROPERTY TYPE Office / Retail (check with city for use) SALE PRICE $2,995,000 ** buyer to verify BILLBOARD LEASE LESSOR TERM LENGTH The Lamar Companies 5 years (approximately 3 years remaining) TERM COMMENCEMENT June 1, 2016 ANNUAL RENT $1,800 6
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Store Store Service Area Service Area 8
Hardscape Office Rear Front 9
OFFERING HIGHLIGHTS Irreplaceable Venice Location Located along Lincoln Boulevard, one of the most high trafficked thoroughfares in the City in the heart of Venice and Silicon Beach. Surrounded by plentiful walkable amenities along a major thoroughfare. Surrounded by dense residential neighborhoods of Venice and Mar Vista. Vacant Commercial Space Commercial building is currently vacant, this unique offering presents a great location for owner-users or value creation potential to capitalize on the high demand, low supply of Venice commercial real estate. Double-Sided Billboard & Unique Design Elements Offering comes with a double-sided billboard that overlooks the highly-traveled, pedestrian friendly streets of Lincoln Boulevard. Property features: spacious hardscape, roomy interior with multiple rolling service doors, 2 partitioned rooms with independent hardscape access (bathroom and small office), and cement flooring throughout. Accessibility & Transit Oriented Just north of major thoroughfares Venice Boulevard along Lincoln Boulevard which gives access to Pacific Coast highway and the I-10 Freeway. The I-10 Freeway is approximately 1.5 mile from the property, giving travelers access to and from all parts of the city. A Big Blue Bus stop is located at corner of Lincoln Boulevard and Sunset Avenue. Near Popular Tourist Destinations Venice Beach is the 2nd-largest tourist attraction in Southern California after Disneyland. Close to Abbott Kinney Boulevard, Venice State Beach, Venice Beach Boardwalk, Windward Plaza, and the Venice Canals. 10
The Boardwalk The Plaza The Canals The Beach 11
FLOOR PLAN 12
AERIAL SNAPSHOT LINCOLN BOULEVARD SUNSET AVENUE 13
DOWNTOWN SANTA MONICA PACIFIC PALISADES 1 1 DEWEY STREET 5TH AVENUE 7TH AVENUE LINCOLN BOULEVA AREA MAP 14
SANTA MONICA PICO BOULEVARD OCEAN PARK BOULEVARD MARINE STREET MARINE PARK PENMAR GOLF COURSE RD ROSE AVENUE 1 428-436 Lincoln Boulevard SUNSET AVENUE 1 15
MARKET SUMMARY Venice embodies the Southern California spirit - attracting visitors and transplants from all over the world. Known as the hub of creativity and artistic expression, the cool, innovative, and successful come to soak up the sun and experience all the unique sights that make Venice special. From luxurious homes along the Venice canals to the bohemian lifestyle found along Venice Beach and Boardwalk, Venice is a place for anyone looking to live, work and play in this one-of-a-kind, culturally diverse, seaside community. Venice is part of Silicon Beach, home to over 500 tech startups, major technology & media corporate giants like, Facebook, Google, Snap Inc., and HBO. Silicon Beach s growth has fed an influx of residents, businesses and tourists. The effect has led to a rise in housing and rental prices, a spike in employment rates, and revitalized interest in development projects. Abbot Kinney boasts an eclectic mix of trendy shops, bats and restaurants, transforming Abbot Kinney Boulevard into one of the most popular streets in the City. There were 10 million visitors in 2015; the largest proportion of visitors were between the ages of 25 and 34 62% of visitors have an average income over $50,000 43.8% of visitors are from areas outside of Los Angeles County and Southern California 37,705 population in 2000, according to the U.S. Census. The L.A. Department of City Planning estimated a population of 40,885 in 2008 Venice is approximately 3.17 square miles with neighboring communities like Culver City, Marina Del Rey, Mar Vista, Playa Del Rey and Santa Monica 16
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4 28-436 LINCOLN BOULEVARD Venice, CA 90291 SALE CONTACT: T.C. Macker, CCIM President D. 310.966.4352 tcmacker@westmac.com DRE# 01232033 www.westlacommercial.com SALE CONTACT: Brian C. Peterson Executive Vice President D. 310.966.4385 peterson@westmac.com DRE# 01326439 Coldwell Banker Commercial WESTMAC 1515 Sepulveda Blvd., Los Angeles, CA 90025 P. 310.478.7700 www.westmac.com DRE# 01096973