7254 Coldwater Canyon Avenue

    North Hollywood, CA 91605
    • $4,495,000
    • STATUS: Active
    • ON SITE: 95 days
    • ID#: GD18224671
    $4,495,000
    • 0
      BEDS
    • 1.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,780
      SQFT
    • $778
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1990
    County:

    School Ratings & Info

    Description

    We are pleased to present an industrial single tenant opportunity in North Hollywood, California featuring TechAir, one of the nation+GGs leading suppliers of industrial gasses and equipment. The lease is an Industrial Single Tenant Net Lease obligating the tenant to pay for 100% of the property expenses, property taxes, insurance and maintenance making this lease an Absolute NNN lease. The Subject Site is fully leased by TechAir and contains approximately 1.11+- acres of land and 5,780+- square feet of building in accordance to the Property Profile reports. In addition, there are substantial specialized improvements, which may be irreplaceable or difficult to replicate should the tenant decide to move. Especially considering the low industrial inventory of North Hollywood and the general San Fernando Valley market, there would be significant logistical and regulatory burdens the tenant would have to endure to find another comparable location. The tenant+GGs current lease started in 2013 and extends to July 2018. Tenant has two 5-year options to extend their lease and has exercised their first option. In the second 5-year option, the rents adjust to +G+Prevailing Market Rents+G-, which in our opinion, has seen a substantial increase in the past several years. At it+GGs current list price the property delivers a 4.18% cap rate with room for improvement at the end of the first option period.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-18T00:28:32.007. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sonyathebroker.com/homes/87482761

    7254 Coldwater Canyon Avenue North Hollywood, CA 91605

    • Price: $4,495,000
    • Status: Active
    • ID#: GD18224671
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.11
    Acres
    5,780
    SQFT
    $778
    $/SQFT
    1990
    Built
    Neighborhood:
    NHO - North Hollywood
    County:
    Los Angeles
    Area:
    NHO - North Hollywood
    Property Description
    We are pleased to present an industrial single tenant opportunity in North Hollywood, California featuring TechAir, one of the nation+GGs leading suppliers of industrial gasses and equipment. The lease is an Industrial Single Tenant Net Lease obligating the tenant to pay for 100% of the property expenses, property taxes, insurance and maintenance making this lease an Absolute NNN lease. The Subject Site is fully leased by TechAir and contains approximately 1.11+- acres of land and 5,780+- square feet of building in accordance to the Property Profile reports. In addition, there are substantial specialized improvements, which may be irreplaceable or difficult to replicate should the tenant decide to move. Especially considering the low industrial inventory of North Hollywood and the general San Fernando Valley market, there would be significant logistical and regulatory burdens the tenant would have to endure to find another comparable location. The tenant+GGs current lease started in 2013 and extends to July 2018. Tenant has two 5-year options to extend their lease and has exercised their first option. In the second 5-year option, the rents adjust to +G+Prevailing Market Rents+G-, which in our opinion, has seen a substantial increase in the past several years. At it+GGs current list price the property delivers a 4.18% cap rate with room for improvement at the end of the first option period.
    Exterior Features

    Lot Features 0-1 Unit/AcrePaved Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None Office Class C

    Property Features

    Accounting Type Actual Additional Parcels YN No Anchors Co Tenants Techair Builder Name Tech Air Building Area Units Square Feet Building Status Existing Cap Rate 4.18 Country Us Current Use Comments Do Not Disturb Tenant. Industrial Type High Tech/R&DManufacturingWarehouse/DistributionWarehouse/Office Investment Property YN Yes Land Lease YN No Land Use IndustrialRetail Laundry YN No Leasable Area Units Square Feet Lease Considered YN No Lot Dimensions Source Assessor Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 187802.00 Number Of Units Leased 1 Occupancy Occupied Property Sub Type Industrial Special Listing Conditions Standard Tax Year 2018 Total Monthly Rent 15560 Water Source Public Year Built Source Assessor Zoning M2

    Listing provided courtesy of Krikor Garabedian of Keller Williams R. E. Services.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-18T00:28:32.007. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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