1424-1428 Abbot Kinney Boulevard
Venice, CA 90291
Marcus & Millichap, as exclusive advisor, is pleased to present this unique opportunity to purchase 1424, 1426, & 1428 Abbot Kinney Blvd (“the Property”), a 3,268 square foot retail property on one of the most famous streets in America. The Property consists of three separate structures on two adjacent parcels, with 60 feet of frontage on Abbot Kinney. Currently 23% leased on a month-to-month basis. 1424 Abbot Kinney presents an extremely rare flagship branding opportunity for the most discerning retailers. Additionally, value-add investors may execute a redevelopment strategy or renovation and lease up play to take advantage of dramatic rent growth on Silicon Beach’s most sought-after street.
Ideally located in the heart of Abbot Kinney Blvd, 1424 Abbot Kinney neighbors many of today’s hottest brands, iconic global retailers, renowned art galleries, and award winning restaurants frequented by LA’s celebrities and tech moguls. In addition to the highly educated and successful millennial-driven local population, the area attracts over 16 million annual visitors, creating a truly dynamic and vibrant street culture.
The Property offers the creative owner-user or investor with the perfect blank canvas to make their mark on the street that personifies LA.
Price Per SF: $2,417
Pro Forma Cap Rate: 7.67%
Stabilized NOI: $569,545
Total Building Size: 3,268 SF
Total Lot Size: 5,400 SF
1424-1426 Abbot Kinney, which is currently vacant, provides unique character and prominent visibility on Abbot Kinney. Along with its many aesthetic features, this building offers tremendous flexibility and can be leased as one, two or three units. Aesthetic features include high ceilings, exposed beams, skylights, patios, a combination of polished concrete and hardwood floors, lighting, HVAC, kitchen, 3 restrooms, 1 shower and a new roof in 2019. This building is clean and ready for immediate occupancy.
1428 is the quintessential Abbot Kinney California style bungalow, originally constructed as a Dry Goods Store and dwelling unit. These unique properties, with front and rear patios, are perfect for creating flag ship experiential retail offerings where the building is all about the brand. Green House Smoke Shop occupies the vintage bungalow on a month-to-month basis at $3,100/month, well below market lease rates.
Cohen | DeBuiser is a leading commercial real estate team with Marcus & Millichap, focusing on office, industrial, and retail investment sales in Ventura, Santa Barbara, and Los Angeles counties. Our mission is to provide the best service, advice, and opportunities for our clients to build wealth in investment real estate.