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9346 Corbin Avenue
Northridge, CA 91324

Price: $3,650,000 Zoning: C2
Bldg SF: 12,500 SF Price/SF: $292
Land SF: 23,274 SF Occupancy: 100%
Year Built:  1972 Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

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

Price: 9346 Corbin Avenue, Northridge, CA 91324
Bldg SF: 12,500 SF
Land SF: 23,274 SF
Year Built: 1972
CAP Rate: 3.84%
Price/SF: $292
Occupancy:  100%
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

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

Investment Highlights

VALUE-ADD MULTI-TENANT STRIP CENTER
◆ 62% current occupancy allows for significant upside through stabilization
◆ Strong mix of local tenants which cater to the dense immediate population
◆ Current vacant space is grandfathered in for medical use
◆ Current rents are below market, and Seller is not collecting NNN charges
◆ Upon stabilization, the center will generate a stable and secure cash with upside in rent in the existing tenant base

EXCELLENT NORTHRIDGE LOCATION WITH SIGNIFICANT NEW DEVELOPMENT

◆ Adjacent to a brand new, 402 unit luxury apartment development, as well as a 125 unit senior assisted living community
◆ Strong daily traffic counts north of 30,000 vehicles per day
◆ Excellent access to the 101, 405, and 118 freeways
◆ Less than a mile from the MGA Entertainment Campus, a 1.2 million square foot development with 660 apartment units
◆ Within close proximity to Cal State Northridge, Metro Line 243, and the Northridge Metrolink
◆ Strong immediate population growth has created an increased demand in the immediate area for residential, which creates upside potentials for retail rents

DENSE LOS ANGELES COUNTY SUBMARKET

◆ Over 480,000 people within a five mile radius
◆ Affluent submarket with average household income north of 107,000 within a 1-mile radius
◆ Strong local residential market with multi-million dollar homes, trendy restaurants and a plethora of national retailers
◆ Significant growth projections and new developments in the immediate and surrounding areas