1
1

7227 Owensmouth Avenue
Canoga Park, CA 91303

Price: $4,250,000 Zoning: LAC2
Bldg SF: 15,380 SF Price/SF: $276
Land SF: 14,930 SF Current Vacancy: 94%
Year Built:  2008 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


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Address: 7227 Owensmouth Ave, Canoga Park, CA 91303
Bldg SF: 15,380 SF
Land SF: 14,930 SF
Year Built: 2008
ProForma CAP Rate: 5.93%
Price/SF: $276
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


Steven Schechter
(818) 212-2793
Steven.schechter@marcusmillichap.com
License # 01089464

Investment Highlights

Excellent Canoga Park Location

 

  • Ideally Located less than a mile from the Warner Center
  • Located one mile from Westfield Topanga & The Village, a 2.1 million square foot shopping center
  • Just North of Sherman Way, a may east west thoroughfare through the San Fernando Valley

 

Mixed-Use Retail and Office Building with Excellent Flexibility

 

  • Currently 94% vacant
  • Each floor is subdivided into multiple units/suites, allowing for flexibility in tenancy or owner occupancy
  • The first floor is 3,750 square feet and is subdivided into four retail units
  • The second and third floors are each 6,000 square feet, and are further subdivided into 4 office suites each

 

Ideal Owner-User or Value Add Opportunity

 

  • Flexibility in leases would allow an owner-user buyer to occupy a portion of the property
  • An owner-user could occupy part of the property and lease out the rest for additional income
  • Property is 94% vacant, which allows for immediate upside upon leasing

 

Ideally located less than half a mile from Warner Center

 

  • Located less than one mile from the Warner Center
  • Uptown at Warner Center is receiving a $3 billion capital infusion to complete a mixed-use development
  • Within two miles of the Westfield Promenade, which is set to undergo a $1.5 billion renovation
  • Thousands of new residential units coming online with a strong desire to attract millennials
  • Recent office conversions hope to attract top national companies to enhance growth and opportunity

 

Multi-Billion Dollar Sub-Market Complete with Retail Attractions and Premiere Office Hub

 

  • Close proximity to the newly built, open-air retail center “The Village” at Westfield Topanga and Westfield Topanga, encompassing over 2.7 million square feet of retail space with over 250 top brands, restaurants and entertainment options
  • Close proximity to the Westfield Promenade, a $1.5 billion renovation that includes retail, Class A office, two hotels, 14,000 residential units, and an entertainment and sports center
  • Within close proximity to Uptown at Warner Center is receiving a $3 billion capital infusion to complete a mixed-use development
  • Local retailers include: Apple, Nordstrom, Neiman Marcus, Target, Macy’s,. REI, Costco, Best Buy Electronics, Crate & Barrel
  • Local restaurants include: Roy’s Asian Fusion, Fleming’s Steakhouse, California Pizza Kitchen, Cheesecake Factory, Chipotle, Il Fornaio, Pizza Rev, Guacho Grill, Coffee Bean & Tea Leaf, P.F. Changs and many more
  • Approximately 40,000 employees work within Warner Center.
  • Major employers include HealthNet Inc., Zenith Insurance, Kaiser Permanente Hospital, Pratt & Whitney, and Pierce College

 

Strong Immediate Demographics and Population Density

 

  • Average household income of $78,000 - $104,000
  • Strong local economy with significant job growth over a multitude of diverse sectors
  • Over 80,000 new jobs, 37 million square feet of business and residential buildings, 14 million square feet of non-residential building area, 200,000 residential units projected in the immediate area
  • Over 2 million residents and 850,000 jobs in the densely populated San Fernando Valley