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21339 Sherman Way 1,118 SF Retail Building Canoga Park, CA 91303 $2,100,000 ($1,878.35/SF)
INVESTMENT HIGHLIGHTS
- Situated in a rapidly developing Los Angeles sub-market
- Close to Sherman Way Orange Line Station
- Located near high-traffic intersection of Sherman Way & Canoga Ave
EXECUTIVE SUMMARY
21339 Sherman Way is a 12,196 square-foot property strategically located on the busy Sherman Way commercial corridor in Canoga Park, one of the most rapidly developing sub-markets in Los Angeles. This densifying area is home to a diverse and growing population, with a variety of nearby slated developments underway.
The property features an 1,118 square foot office structure featuring a drive-in bay and lift, abundant parking, prominent frontage on Sherman Way, as well as strong fundamentals such as adjacency to the high-traffic intersection of Canoga Ave and Sherman Way, proximity to the Sherman Way Orange Line Station, and pylon signage.
This unique opportunity appeals to a wide range of buyers: Investors may consider the opportunity to stabilize the asset at market rents and maximize returns. Developers may pursue a complete repurposing of the property for alternative purposes, given that it is located in a Tier 3 Transit Oriented Community and State Enterprise Zone. An Owner-Operator with substantial parking requirements would see undeniable value in the property’s current configuration, as well as the prominent pylon signage and outsize traffic counts at Sherman Way and Canoga Ave. Further, buyers can benefit from existing cash flow while planning their future project, due to an incumbent tenant with flexible lease terms.
The property features an 1,118 square foot office structure featuring a drive-in bay and lift, abundant parking, prominent frontage on Sherman Way, as well as strong fundamentals such as adjacency to the high-traffic intersection of Canoga Ave and Sherman Way, proximity to the Sherman Way Orange Line Station, and pylon signage.
This unique opportunity appeals to a wide range of buyers: Investors may consider the opportunity to stabilize the asset at market rents and maximize returns. Developers may pursue a complete repurposing of the property for alternative purposes, given that it is located in a Tier 3 Transit Oriented Community and State Enterprise Zone. An Owner-Operator with substantial parking requirements would see undeniable value in the property’s current configuration, as well as the prominent pylon signage and outsize traffic counts at Sherman Way and Canoga Ave. Further, buyers can benefit from existing cash flow while planning their future project, due to an incumbent tenant with flexible lease terms.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,118 SF
Building Class
C
Year Built
1985
Price
$2,100,000
Price Per SF
$1,878.35
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.28 AC
Opportunity Zone
Yes
Zoning
PF
Parking
40 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Magic Auto Center Canoga
- Retailer
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Magic Auto Center Canoga | Retailer | - | - | - |
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2111-030-018 | Improvements Assessment | $107,299 |
| Land Assessment | $640,315 | Total Assessment | $747,614 |
PROPERTY TAXES
Parcel Number
2111-030-018
Land Assessment
$640,315
Improvements Assessment
$107,299
Total Assessment
$747,614
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21339 Sherman Way
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