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6416 Tampa Avenue
Reseda, CA 91335

Price: $10,500,000 CAO Rate: 6.28%
Bldg SF: 14,200 SF Price/SF: $739
Land SF: 62,215 SF Price/SF (Land): $169
Year Built:  2009 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


Lior Regenstreif
(818) 212-2730
lregenstreif@marcusmillichap.com
License # 01267761

6416 Tampa Avenue, Reseda, CA 91335
Price: $10,500,000
Bldg SF: 14,208 SF
Land SF: 62,215 SF
Year Built: 2009
CAP Rate: 6.28%
Price/SF: $739
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


Lior Regenstreif
(818) 212-2730
lregenstreif@marcusmillichap.com
License # 01267761

Investment Highlights

Stable and Secure Income Stream from Two Globally Recognized Tenants

  • Seventy five year lease with Walgreens expires in 2033 with nine
    – 5 year options
  • Walgreens directly benefits from the flow of medical patients
    accessing the adjacent West Valley Medical Square and serves the
    direct needs of the residents in the densely populated surrounding
    area
  • Yogurtland has successfully operated at this location for ten years,
    and has exemplified outstanding sales history at this location
  • Yogurtland has 15% increase every 5 years

 

Walgreens – Trusted Since 1901

  • Walgreens Boots Alliance, Inc has business operations in over 25 countries
  • Over 13,700 retail stores in operation in the US under the Walgreens and Duane Reade brands
  • Boots Segment operated over 4,600 stores internationally
  • Walgreens is the second largest pharmacy store chain in the United States
  • 2018 sales revenue exceeded $131 billion
  • Walgreens Boots Alliance is not part of the Dow Jones Industrial Index

 

Yogurtland – A High Performing Location

  • Outstanding sales revenue out of the 1,200 square foot pad located directly on the signalized corner
  • Strong performance at this location for almost ten years
  • Currently paying percentage rent as a result of their outstanding sales performance
  • Yogurtland has over 330 stores in 20 US stats and Internationally
  • Total Sales Revenue exceeds $130,000,000

 

Centralized San Fernando Valley Location

  • Northeast signalized corner of Tampa Avenue and Victory Boulevard in Reseda, CA
  • Within close proximity to the Ventura 101 Freeway, San Diego 405 Freeway and California State Route 118 Freeway, major airports, Downtown Los Angeles, the Tri-Cities, the Westside of Los Angeles, and the Warner Center
  • High daily traffic counts exceed 40,000 vehicles per day
  • 157 feet of frontage along Victory Boulevard and
    357 feet of frontage along Tampa Avenue
  • Multiple access points allow for ease of ingress
    and egress
  • 68 parking spaces with 62 surface parking spaces
    and 6 spaces located within the parking structure
    above Walgreens
  • Newer Construction (2009)

 

Dense Immediate Submarket

  • Population of over 635,000 people within a 5 mile radius
  • Average household income over $94,000
  • The San Fernando Valley boasts a population of over
    1.75 million people, which exceeds the populations
    of all but the four largest cities in the country – New
    York, Los Angeles, Chicago and Houston
  • Strong local economy with significant growth and population projections