Beverly Hills Adjacent Corner Lot - 9314-9328 Pico Boulevard is situated on a 17,599 Square Foot lot on the corner of Pico Boulevard and Glenville Drive, just steps from Beverly Drive.
High Functioning Retail/Restaurant Space - The interior of the property is currently built out with high ceilings dedicated for an event space, high-end kosher kitchen, full bar (with liquor license), and an adjacent parking lot used for outdoor seating.
Pico Robertson Submarket - The Pico-Robertson neighborhood features a diverse array of retail shops, boutique clothing stores, specialty kosher markets and is one of Los Angeles' most tight knit communities.
Rent / SF is over 35% below market - The existing tenant is currently paying $2.21 PSF/monthly for the space which is well below the $3.50 PSF NNN/monthly market rate.
Covered Land Play w/ Future Development Potential- Currently zoned C4-1VL-O allowing for residential and/or commercial (with limitation) uses.
High Barrier to Entry Submarket - Historically low transaction volumes with limited supply on one of the largest thoroughfares in the City – Pico Boulevard.
Substantial Rent Growth - Pico/Robertson retail rents have trended substantially upwards and are projected to increase by more than 15% in the next 5 years.
Strong Dense Retail Corridor - With 317,291 people living within a 3-mile radius and 35,366 vehicles passing through per day, this location boasts one of the highest traffic counts in West Los Angeles.
