7172 Melrose Ave, Los Angeles, CA 90046

Sep 17

$2,050,000 Sales Price

6.92%
Pro Forma CAP

3,380
Sq Ft

40 FEET OF FRONTAGE ON A STREET THE WORLD ALREADY KNOWS.

7172 Melrose sits inside the Melrose Business Improvement District between La Brea and Fairfax, one of the most photographed retail strips in Los Angeles. Roughly 39,185 vehicles pass the front door every day, and a Walk Score of 97 rates it a Walker’s Paradise.

DELIVERED VACANT. THAT IS THE OPPORTUNITY.

No tenant to inherit and no below market lease to wait out. An owner user can occupy day one and put their brand on Melrose. An investor signs a tenant at today’s rates instead of yesterday’s, with pro forma NOI of $141,855 and a 6.92% cap at market lease up.

PRICED INSIDE THE COMP SET.

At $606.51 per building square foot and $465.91 per land square foot, the asking price sits within recent Melrose corridor sales of $457 to $676 per square foot rather than at the top of the range.

BUY IT OR LEASE IT.

The space is simultaneously offered for lease at $3.95 per square foot per month, NNN (estimated NNN $0.77). Corridor asking rents run $2.70 to $5.00 per square foot, putting this ask mid market and roughly 9 to 10 percent below the two most recent comparable deals nearby.

A FUNCTIONAL BOX WITH REAL LOGISTICS.

3,380 SF, one story, built 1947, on a 4,400 SF LAC2 lot with 40 feet of direct Melrose frontage. Storefront, private offices, kitchenette, storage, and a restroom inside, plus four gated parking spaces in two tandem bays and an enclosed loading bay off the alley. Utilities are separately metered.

SHOWINGS BY APPOINTMENT ONLY.

The offering memorandum covers full financials, comparable sales, rent comparables, and site details. Contact the listing team to request it.