Wall Street Pavillion
Prime Retail Buildings
22,500 Sq. Ft Land parcel on 2 seperate lots.
Building footage includes mezzanine level & storage.
Current total building lease rates average $1.72psf.
Owner pays for trash($2,400ann),water(approx.$50 mo), and insurance only.
Property may be subdivded.
100% occupied with strong history of full occupancy.
Fully renovated in 1991.
DO NOT DISTURB TENANTS! SELLER IS WILLING TO DISQUALIFY BUYERS WHO DO NOT ADHERE TO THIS REQUEST.
Located between 11th St and 12th St in the Heart of the Los Angeles Fashion/Garment District, this property is a one of a kind investment.
Featuring 12 showroom stores with 150 feet of frontage on Wall Street, at current rents this property represents a 12.3% cash on cash return at an 8.8 cap. With 2 leases in month to month, a dramatic shortage of comparable space in the retail area, this location is dynamite for high end apparel retailers trading from Korea and the Far East.
The property features approximately 8,500 sq ft of upstairs warehouse space. The market value of this warehouse space is about $1.00 p.s.f. If all the ground floorspace is brought up to current market at $3.00 NNN the property would yield a 20% cash on cash return.
Perfect for the owner operator or active investor, there is no other comparable property on the market in the garment district.
Those who know New York's and Paris' fashion district, know the value of this type of investment in Los Angeles.
Michael R. Fukushima
Total Investment Real Estate Brokers
3600 Wilshire Boulevard, Third Floor
Los Angeles, CA 90010