7-Eleven

  • $2,000,000
14102 Sherman Way - Van Nuys, CA 91405
Under Contract
7-Eleven
14102 Sherman Way - Van Nuys, CA 91405
  • $2,000,000

Property Highlights

  • Investment Grade | 7-Eleven convenience store with ±6.5 years remaining on NNN lease
  • Strong sales at this site (annual sales reporting) – Contact agents for gross sales information.
  • Proven site | Tenant has occupied the space for over 49 Years | Commencement in 1975
  • Excellent visibility and exposure | Located on the corner of a signalized intersection which sees 65,636 VPD (2022)
  • Strategic Retail Location | Multiple points of ingress and egress off of Sherman Way and Hazeltine Ave
  • High Barriers to Entry | Limited opportunities for the tenant to relocate provide an investor long-term security.
  • San Fernando Valley vacancy has held in the high-4 to mid-5 percent band throughout the past four years. This consistency should steer investors to net-leased assets and centers with varying tenant mixes.
  • The Los Angeles metro’s retail inventory grows by less than 0.5 percent for a seventh straight year. Apart from South Bay, no submarket is slated to add more than 200,000 square feet of space.
  • Private investors remain active in Los Angeles proper. Across the county’s primary commercial real estate sectors, the retail segment noted the smallest year-over-year drop in deal flow during 2023, with 1031 exchange and upside-seeking investors active.
  • When comparing visits to 2019, c-stores hit it out of the park with a 15.9% foot traffic increase – leaving coffee and QSR, which maintained respective 1.7% and 5.0% year-over-four-year (Yo4Y) visit gaps, in the dust. And notably, c-stores have also outperformed gas stations. – Placer.ai
  • C-stores’ rising popularity appears to be driven, in part, by inflation: When prices are high, people seek out inexpensive, affordable luxuries that don’t break the bank. And over the past several years, c-stores have upped their prepared food games, offering affordable fresh coffee and baked goods and introducing more varied fast-food fare. Rather than go on big, expensive grocery runs, some consumers may have preferred to pop into a local c-store, where they could grab a few essentials and treat themselves at the same time. – Placer.ai
  • Mature Rooftop Population | Households: 17,050 (1-mile) | Daytime Population: 34,213 (1-mile) | AHI: $75,830 (1-mile)

Details

  • Price: $2,000,000
  • Year Built: 1975
  • Property Type: Single Tenant
  • Property Status: Under Contract

Additional Details

  • Price/SF: $833.33
  • Cap Rate: 5.00%
  • Rentable Area: 2,400 SF
  • Lot Size: 0.23 AC
  • Zoning: LAC1
  • Address 14102 Sherman Way
  • City Van Nuys
  • State/county California
  • Zip/Postal Code 91405

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