21339 Sherman Way 1,118 SF Retail Building Canoga Park, CA 91303 $2,100,000 ($1,878.35/SF)

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, 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, pylon signage, and an abundance of parking.
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.