FOR SALE: $4,485,000€¦ · On Market List Price $1,499,000 Rentable SF 5,000 Price/SF $299.80 Year Built 1956 NOTES Seven offices and a warehouse. 3,600 SF office and warehouse

14318 CALVERT STREETVan Nuys, CA 91401

FOR SALE: $4,485,000

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PROPERTY PHOTO

14318 CALVERT STREET

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Side Parking Lot Also Available

P R E S E N T E D B Y

Einar RodenLos Angeles Office

Tel: (213) 943-1866

Fax: (213) 943-1810

[email protected]

License: CA 01187703

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INVESTMENT

OVERVIEW

PROPERTY PHOTO


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OFFERING SUMMARY

▪ Premium Van Nuys Location Near City Hall, Police and Fire Stations

▪ Seller Financing is Available

▪ Vacant 16,310 Square Foot Warehouse on 0.49 Acres

▪ Adjacent Parking Lot for 20 Cars is also Available for Purchase (0.12 Acres)

▪ Qualified Opportunity Zone, TOC Tier 2, Dense Population

▪ Easy Access to 101, 170, and 405 Freeways

▪ Walking Distance to Metrolink Rail Station and Orange Line Bus Station

▪ Two-Sided Pole Signage on Calvert Street

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to present 14318 Calvert Street, Van Nuys CA. Seller financing is available with a significant down payment. This versatile industrial

warehouse is currently being utilized as an Ice Skating Rink and features approximately 16,310 square feet of building area on 0.49 acres zoned CM-1VL. The property can

be delivered vacant and it is located within walking distance to Van Nuys City Hall, Courthouses, Police and Fire Stations, and City Administrative Offices. There is

convenient access to the 101, 170, and 405 freeways, and public transportation services including the Metrolink Rail Station and the Orange Line Bus Station.

14318 Calvert Street is within a Qualified Opportunity Zone (buyer to verify), and is eligible for TOC Tier 2 incentives. A developer can take advantage of these benefits by

renovating or redeveloping the site. This warehouse is ideal for an owner-user and provides large clear span area and 14 foot ceiling height. The floor plan is readily

adaptable for manufacturing, assembling, packaging, and operating machinery. There is one drive-in door (8 feet x 10 feet) and heavy power: 400a/120-480v, 3p. Parking

areas accommodate approximately 15 vehicles and the adjacent 0.12 acre parcel is available for separate purchase and provides 20 additional parking spaces. A highly

visible pole sign stands along Calvert Street.

INVESTMENT OVERVIEW

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Offer Price: $4,485,000


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PROPERTY SUMMARY

OFFERING SUMMARY

THE OFFERING

Price $4,485,000

Property Address 14318 Calvert Street, Van Nuys, CA

Assessors Parcel Number 2240-009-009

Zoning CM-1VL

SITE DESCRIPTION

Number of Floors 1

Year Built/Renovated 1950

Rentable Square Feet 16,310

Ownership Fee Simple

Parcel Size 0.49 acre(s)

Parking 15 Spaces

Parking Ratio 0.92/1,000 SF

Topography Flat

Intersection/Cross Street Van Nuys Boulevard and Calvert Street

CONSTRUCTION

Foundation Concrete Slab

Exterior Reinforced Concrete

Parking Surface Asphalt

Ceiling Height 14'

Roll-Up Doors One 8' x 10' Drive-In

Column Spacing Large Clear Span Area with no Impeding Beams

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MECHANICAL

Power 400 Amps/120-480 Volts, 3-Phase

PROPERTY PHOTO


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0.12 Acre Side Lot Also Available

REGIONAL MAP


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LOCAL MAP


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AERIAL PHOTO


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PROPERTY PHOTO


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Approximately

16,310 Square Feet

0.49 Acres

CM-1VL Zoning

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PROPERTY PHOTO


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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


PRICING DETAIL

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VITAL DATA

CURRENT PRO FORMA

Price $4,485,000 Net Operating Income $0 $0

Down Payment100% /

$4,485,000Total Return 0.00% / $0 0.00% / $0

Loan Type All Cash

Rentable SF 16,310

Price/SF $274.98

Current Occupancy 0%

Year Built 1950

Lot Size 0.49 acre(s)


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MARKET

COMPARABLES


SALES COMPARABLES MAP

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(SUBJECT)

14243 Bessemer Street

14122 Aetna Street

14520 Delano Street

14641-14649 Aetna Street

14701 Calvert Street

SALES COMPARABLES

ON MARKET COMPARABLES

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3

4

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PROPERTY NAME14318 CALVERT STREET

SALES COMPARABLES

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SALES COMPARABLES

Avg. $259.44

Avg. $307.28

$0.00

$40.00

$80.00

$120.00

$160.00

$200.00

$240.00

$280.00

$320.00

$360.00

$400.00

14308-14318CalvertStreet

14243Bessemer

Street

14122 AetnaStreet

14520DelanoStreet

14641-14649AetnaStreet

14701CalvertStreet

Average Price Per Square Foot

SALES COMPARABLES

ON MARKET COMPARABLES

SALES COMPS AVG

ON MARKET COMPS AVG

14318 Calvert Street, Van Nuys CAPrice: $4,485,000 ($274.98 / Square Foot)

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


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SALES COMPARABLES ON MARKET COMPARABLES

Asking Price $4,485,000

Price/SF $274.98

Year Built 1950

Occupancy 0%


Power 400A/120-480V/3P

Clear Height 14'

14318 CALVERT STREET14318 Calvert Street, Van Nuys, CA, 91401

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Close of Escrow 2/13/2018

Sales Price $2,753,141

Rentable SF 14,299

Price/SF $192.54

Year Built 1940

Occupancy 100%

Parking Ratio 1.00

NOTES

This was a sale -leaseback by the seller (Artic Glacier). Lot is 1.01 Acres.

This was one of six properties sold together as a portfolio for $41,250,000,

or $192/sf.

14243 BESSEMER STREET14243 Bessemer Street, Van Nuys, CA, 91401

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Rentable SF 12,387

Price/SF $285.78

Year Built 1959

Occupancy 100%


Power 400a/230v 3w

Clear Height 14'

Percentage of Office 21.00%

NOTES

0.45 Acre Lot. Buyer confirmed sale price, date sold, size of building, 90

day escrow and part of a 1031 exchange and the property was occupied at

time of sale.

14122 AETNA STREET14122 Aetna Street, Van Nuys, CA, 91411

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


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SALES COMPARABLES ON MARKET COMPARABLES

NOTES

This was a bankruptcy sale that was vacant at time of sale, therefore, there

is no cap rate or income to report. The new owner plans to rehab and put

onto the market.

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Rentable SF 5,000

Price/SF $300.00

Year Built 1929


Clear Height 14'

14520 DELANO STREET14520 Delano Street, Van Nuys, CA, 91411

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On Market

List Price $4,100,000

Rentable SF 13,026

Price/SF $314.76

Year Built 1969


NOTES

Each free-standing building has 5 tenants. All units have a 10 x 10 pivot

door with generous ceiling height ranging from 15 to 17 feet. Currently, half

of all the units are being leased out to music related businesses.

14641-14649 AETNA STREET14641-14649 Aetna Street, Van Nuys, CA, 91411

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On Market

List Price $1,499,000

Rentable SF 5,000

Price/SF $299.80

Year Built 1956

NOTES

Seven offices and a warehouse. 3,600 SF office and warehouse space plus

1,400 SF of indoor parking. The property is within walking distance to Van

Nuys Courthouse, Department of Building and Safety, and more. The

property will be delivered vacant.

14701 CALVERT STREET14701 Calvert Street, Van Nuys, CA, 91411


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MARKET

OVERVIEW

PROPERTY PHOTO


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PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2019 Experian

Created on April 2020

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2024 Projection

Total Population 48,538 316,318 737,839

▪ 2019 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2019 Estimate 45,660 331,266 671,839

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2024 Projection

Total Households 17,197 118,170 259,552

▪ 2019 Estimate


Average (Mean) Household Size 2.83 2.66 2.83

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2019 Estimate

$200,000 or More 5.73% 7.67% 8.33%

$150,000 - $199,000 4.85% 6.04% 6.10%

$100,000 - $149,000 9.97% 13.13% 14.14%

$75,000 - $99,999 11.71% 11.65% 11.79%

$50,000 - $74,999 17.91% 16.68% 16.64%

$35,000 - $49,999 14.29% 13.04% 12.33%

$25,000 - $34,999 11.36% 9.72% 9.20%

$15,000 - $24,999 12.18% 10.84% 10.21%

Under $15,000 11.99% 11.27% 11.26%

Average Household Income $78,269 $90,237 $94,701

Median Household Income $50,201 $57,453 $60,275

Per Capita Income $27,843 $33,786 $33,270

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2019 Estimate Total Population 46,815 306,986 718,470

Under 20 24.54% 22.75% 23.58%

20 to 34 Years 25.62% 24.68% 24.46%

35 to 39 Years 8.15% 8.06% 7.86%

40 to 49 Years 14.52% 14.26% 14.07%

50 to 64 Years 17.64% 18.01% 17.83%

Age 65+ 9.53% 12.26% 12.19%

Median Age 34.92 36.54 36.20

▪ Population 25+ by Education Level

2019 Estimate Population Age 25+ 32,128 217,728 502,167

Elementary (0-8) 12.72% 9.11% 10.05%

Some High School (9-11) 8.91% 7.80% 8.57%

High School Graduate (12) 20.52% 19.52% 20.16%

Some College (13-15) 20.93% 19.87% 19.23%

Associate Degree Only 6.74% 7.20% 6.78%

Bachelors Degree Only 18.85% 23.73% 22.30%

Graduate Degree 6.80% 9.98% 9.85%

▪ Time Travel to Work

Average Travel Time in Minutes 35 35 34

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Income

In 2019, the median household income for your selected geography is

$50,201, compare this to the US average which is currently $60,811.

The median household income for your area has changed by 53.32%

since 2000. It is estimated that the median household income in your

area will be $56,695 five years from now, which represents a change

of 12.94% from the current year.

The current year per capita income in your area is $27,843, compare

this to the US average, which is $33,623. The current year average

household income in your area is $78,269, compare this to the US

average which is $87,636.

Population

In 2019, the population in your selected geography is 46,815. The

population has changed by 6.32% since 2000. It is estimated that the

population in your area will be 48,538.00 five years from now, which

represents a change of 3.68% from the current year. The current

population is 50.87% male and 49.13% female. The median age of the

population in your area is 34.92, compare this to the US average

which is 38.08. The population density in your area is 14,899.11

people per square mile.

Households

There are currently 16,540 households in your selected geography.

The number of households has changed by 9.41% since 2000. It is

estimated that the number of households in your area will be 17,197

five years from now, which represents a change of 3.97% from the

current year. The average household size in your area is 2.83

persons.

Employment

In 2019, there are 16,216 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

54.66% of employees are employed in white-collar occupations in this

geography, and 45.50% are employed in blue-collar occupations. In

2019, unemployment in this area is 5.38%. In 2000, the average time

traveled to work was 35.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

57.03% White, 4.80% Black, 0.11% Native American and 5.55%

Asian/Pacific Islander. Compare these to US averages which are:

70.07% White, 12.87% Black, 0.19% Native American and 5.66%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 57.58% of the current year

population in your selected area. Compare this to the US average of

18.17%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $582,917 in 2019,

compare this to the US average of $212,058. In 2000, there were

4,300 owner occupied housing units in your area and there were

10,817 renter occupied housing units in your area. The median rent at

the time was $595.

Source: © 2019 Experian

DEMOGRAPHICS

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DEMOGRAPHICS

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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;

however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters

and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of

the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name

is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or

commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.


Van Nuys, CA

ACT ID ZAB0140292

SPECIAL COVID-19 NOTICE

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may

deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform,

and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as

intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers.

All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions

involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility

created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

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FOR SALE: $4,485,000€¦ · On Market List Price $1,499,000 Rentable SF 5,000 Price/SF $299.80 Year Built 1956 NOTES Seven offices and a warehouse. 3,600 SF office and warehouse

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