1
1

19456 Nordhoff Street
Northridge, CA 91324

Price: $6,000,000 Zoning: C4
Bldg SF: 13,175 SF Price/SF: $455
Land SF: 57,283 SF Parking: 68 Spaces
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Address: 19456 Nordhoff Street, Northridge, CA 91324
Price: $6,000,000
Bldg SF: 13,175 SF
Land SF: 57,283 SF
Price/SF: $455
Zoning: C4
Property Type: Retail/Office
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Investment Highlights

Prime Northridge Location

 

  • Ideally located directly across from the Northridge Fashion Plaza and Nordhoff Plaza

  • Located less than two miles from California State University Northridge

  • Within close proximity to significant new multi-family development

  • Significant growth in the immediate area north of 15% over the past decade

  • High daily traffic counts exceeding 35,000 vehicles per day

 

NNN Lease in Place with Publicly Traded Company

 

  • Currently leased to Total Woman Gym & Day Spa

  • Lease expired 12/31/2022

  • Total Woman Gym & Day Spa has 10 locations throughout California

  • Lease is Guaranteed by Town Sports International Holdings

  • Traded on the NASDAQ under CLUB

  • TSI Holdings operates 190 clubs with approximately 605,000 members

 

Unique Covered Land Opportunity

 

  • 13,175 square foot building currently leased to Total Woman Gym & Day Spa through 12/31/2022

  • 57,283 square feet of land zoned C4

  • Current zoning allows for “by-right” development of one residential unit per 400 square feet of land

  • Site is eligible for a 35% state density bonus

  • Ideal location for residential redevelopment

 

Strong Immediate Demographics and Dense Population

 

  • High Barriers to Entry make this a strong West San Fernando Valley rental pocket

  • Multiple national retailers and restaurants in the immediate area

  • Vibrant single-family home market in the immediate area with a median home value of $684,908

  • 18,411 people within one mile of the subject property, 235,116 people within three miles, and over 528,000 people within five miles

  • Affluent demographic with an average income of $100,179 within one mile and a median household income of $80,619

 

Highly Amenitized Local Sub-Market with Significant Development

 

  • Significant development in the immediate area including the brand new Symmetry Apartments, a brand new contemporary apartment community, directly across the street

  • Within less than 1.5 miles from the 24 acre approved master planned MGA Entertainment Campus

  • Multiple national retailers in the immediate area including Lowe’s Home Improvement, Chick-Fil-A, Costco Warehouse, Best Buy, Target, Kohl’s, PetSmart, and many others

  • Centralized West San Fernando Valley location with access to the 118 and 101 Freeways