1301 manhattan ave, Hermosa Beach, CA
Retail for Sale - $7,690,000 - 15,000 Sq. Ft. on 0.39 acres
Property Info
| CIMLS# | 133154 |
| Location 1301 manhattan ave Hermosa Beach CA 90254 | |
| Updated | October 10th, 2011 |
| Type | Retail |
| Price | $7,690,000 |
| Building | 15,000 Sq. Ft. |
| Land | 0.39 acres |
Property Description
The most highly prestigious, tourist and local hotspot anywhere in the South Bay.
Prime Hermosa Beach Pier Retail Plaza Multi-Story, Multi-Tenants with Long Lease Terms. Anchored by the Union Cattle Co. Restaurant. Situated a block from the Beach. This Mediterranean Building overlooks the Pacific Ocean with amazing views of the sea. 2-Story 15,105 SF building (100% Occupied) was built in the year 2000 (and very well maintained), this plaza sits on 5 lots totaling 17,000 SF of HBC2YY Zoned Land.
Parking Garage is a 2-Level, consisting of 37 upper spaces and 31 lower spaces. Additional 9 spaces are outside the lower area.
Financials
The plaza tenants include:
The Union Cattle Restaurant
Massage Envy
Wild Eyes Production
Core Fitness
Pinup Boutique
AccuData, an Accounting firm etc.
All tenants are on NNN leases.
Total NOI $475,000 (and annual CPI increases).
HOWEVER: Net Operating Income for subject property does not include 5% vacancy and expenses, and is closer to $431,748.
Updated October 10th, 2011
