2127-2133 Colorado blvd
EAGLE ROCK, CA 90041
PRICE
$5,880,000
BUILDING SIZE
7,849 SF
LOT SIZE
9,296 SF
CAP RATE
5.8%
PRICE/SF (LAND)
$749
PRICE/SF
(BLDG)
$633
The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale 2127-2133 Colorado Boulevard, a 7,849 square foot multi-tenant retail storefront and creative office property situated on 0.21 acres of land (9,296 SF) located on the signalized corner of Colorado Boulevard & Caspar Avenue, in Northeast Los Angeles submarket of Eagle Rock, CA.
2127-2133 Colorado Boulevard is currently 100% occupied by four tenants, a desirable mix of restaurant, service, and production uses. The property’s three retail storefronts are occupied by two restaurants, Relentless Brewing & Sprits and Penny Oven both with CUB for alcohol use, now local staples since their openings in 2019, and Mathnasium, a math tutoring company with both a national and international presence. Cherry Soda Studios occupies the creative office/production space with access to the rear of the property off Caspar Avenue. The fully stabilized asset boasts a strong average history of occupancy in excess of 8 years with more than 4.5 years of average term remaining. The current tenancy pays $27,935 per month, or $3.56/SF, on NNN leases (rents are as of August 2024).
The property is ideally located on Colorado Blvd, just one block east of the intersection of Colorado Blvd & Eagle Rock Boulevard. The center benefits from not only its excellent visibility, with more than 90’ of frontage along Colorado Boulevard, but also great traffic counts in excess of 30,000 vehicles per day and walk score of 90, a “walker’s paradise”. The site offers 8 surface parking spaces, a parking ratio of 1.02 per 1,000 square feet. While originally built in 1938/1948, ownership completed renovations in 2018 to reposition the property to its current form.
Positioned on Colorado Boulevard, Eagle Rock’s primary commercial corridor. Tenants of 2127-2133 Colorado Boulevard are supported by a mix of neighboring national brands, boutique retailers, and local Eagle Rock staples. The property is wedged between the 67,000 SF Sprouts anchored center off Eagle Rock Boulevard to the West, the 63,000 SF Vons center off N Figueroa Boulevard to the East, and Trader Joes just 0.7 miles to the east on Colorado Boulevard. Colorado Boulevard has traffic counts in excess of 30,000 vehicles per day and connects Eagle Rock with the primary trade areas of Glendale and downtown Pasadena.
OFFERING MEMORANDUM
BRANDON MICHAELS
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685