1424-1428 Abbot Kinney Boulevard Venice CA

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The Offering

Address

1424-1428 Abbot Kinney Boulevard
Venice, CA 90291

Overview

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.


Offering Summary

Price: $7,900,000

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

Investment Highlights

GENERATIONAL REAL ESTATE IN THE EPICENTER OF SILICON BEACH
Generational trophy investment opportunity located in the heart of Abbot Kinney, the Property offers the rare opportunity to own in the premier Southern California coastal location, one of the fastest appreciating markets in the country. Extremely high barriers to entry and challenging development standards make Abbot Kinney an ideal location for secure capital preservation and wealth generation.


MARQUEE OWNER-USER OR VALUE-ADD INVESTMENT OPPORTUNITY
Known as the Coolest Block in the country, Abbot Kinney offers a flagship location on one of the hottest retail streets in the U.S., Portland, Miami, NY, SOMA. Abbot Kinney epitomizes the strongest trends driving contemporary real estate fundamentals - art and culture, bohemian industrial chic, neighboring tech and entertainment industry leaders, and phenomenal demographics


HEART OF ABBOT KINNEY
1424 lies at the very center of Abbot Kinney and heart of the action. The 1400 block is home to this famous street's most appealing draws - The iconic restaurant Gjelina, Ray Ban, Warby Parker, Zadig & Voltaire, Salt & Straw, and others.

Siteplan

Tenants

Overview

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.

1424 Abbot Kinney Blvd - Vacant (667 SF)
1424 1/2 Abbot Kinney Blvd - Vacant (511 SF)
1426 Abbot Kinney Blvd - Vacant (939 SF)
1428 Abbot Kinney Blvd - Green House Smoke Shop

Location

Team

The Cohen | DeBuiser Team

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. 

Gary Cohen

First Vice President Investments
Marcus & Millichap
Cell 818.804.1227 Office 805.351.7143 gcohen@marcusmillichap.com

James DeBuiser

First Vice President Investments
Marcus & Millichap
Cell 805.368.4313 Office 805.351.7144 jdebuiser@marcusmillichap.com

Phone
805.351.7200
Address
Marcus & Millichap
2775 N Ventura Road, Suite 101
Oxnard, CA 93036