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11460 Porter Ranch Drive
Porter Ranch, CA 91326

Price: $10,200,000 Zoning: LAC4
Bldg SF: 47,566 SF Price/SF: $214
Land SF: 180,888 SF Occupancy: Vacant
Year Built:  1999 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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Price: $10,200,000
Bldg SF: 47,566 SF
Land SF: 180,888 SF
Year Built: 1999
ProForma CAP Rate: 11.19%
Price/SF: $214
Occupancy:  Vacant
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


Matthew Luchs
(818) 212-2727
matthew.luchs@marcusmillichap.com
License # 01948233

Investment Highlights

Prime Retail Building Ideally Located in the Porter Ranch Town Center

 

  • Ideally situated as a part of the Porter Ranch Town Center, a 560,000 square foot Power Center
  • The Porter Ranch Town Center is one of the dominant Power Centers in the West San Fernando Valley and the home to several national credit tenants including Walmart, Jo-Ann Fabrics, CVS, Ralphs, Burlington, Party City, Petco, In-N-Out Burger, Starbucks, Wells Fargo Bank, Chase Bank, Islands, TGI Fridays, and Souplantation
  • Located directly across the street from the Vineyards at Porter Ranch, a shopping center which includes Nordstrom Rack, Whole Foods, Ulta Beauty, and the Kaiser Permanente Porter Ranch Medical Office
  • Strong rental pocket with significant demand from national tenants
  • The subject property is the only major vacancy in the Porter Ranch Town Center
  • The subject property has a depressed loading dock with two bays at the rear of the property

 

 

Excellent Retail Fundamentals Create a Unique Buying Opportunity

 

  • Ideally located at an end-cap of the Porter Ranch Town Center, the dominant power center in the immediate area
  • 205 feet of building frontage
  • The entrance to the Porter Ranch Town Center is located off of the signalized intersection of Porter Ranch Drive and Rinaldi Street
  • Right to signage at three highly visible locations: the Pylon sign at Porter Ranch Drive and the CA-118 off ramp, the monument sign at the southwest corner of the center, and the monument sign at the southeast corner of the center
  • Excellent parking with a total of 224 parking spaces, a parking ratio of 4.71 parking spaces per 1,000 square feet
  • Situated on 180,888 square feet of land
  • Part of a fully stabilized 560,000 square foot Power Center
  • Located directly off of the California State Route 118 Freeway with direct freeway access
  • The center ideally caters to the needs of the dense immediate population
  • Vibrant single family residential market surrounds the center, with a median home value of $809,773 within one mile of the subject property

 

Ideal Owner-User or Value Add Opportunity

 

  • The subject property is the only major vacancy within the Porter Ranch Town Center, allowing an owner-user the opportunity to a portion or all of the property
  • An excellent value-add opportunity for an investor to lease up and stabilize the property with one or multiple national credit tenants
  • Building is easily divisible, creating a multitude of potential options
  • Plans have been approved by the Design Review Board and City of LA to split the space into two equal sized units

 

 

Affluent Sub-Market with Strong Underlying Demographics and Strong Population

 

  • Average household income within one mile of the property exceeds $150,500, $127,700 within three miles, and $108,700 within five miles
  • Average household income north of $150,000 in the immediate submarket far surpasses the average for Metro Los Angeles
  • Over 4,000 households are located within one mile of the property, 31,600 within three miles of the property, and 88,300 within five miles of the property
  • Over 11,700 people are located within one mile of the subject property, 89,700 people located within three miles of the property, and 270,200 within five miles of the property