[APNs : 2265-005-003, 2265-005-002] A rare investment opportunity in the desirable neighborhood of ShermanOaks, California; this exceptional retail property is situated on the celebrated Ventura Boulevard strip, offering extensive development potential for a wide range of projects. The property provides existing income from current tenants and boasts over 150 feet of frontage on the most walkable strip in Sherman Oaks with a high Walk Score of 87.The property's zoning permits C2-1L with a confirmed Tier 3 transit-oriented density bonus designation, making it an ideal location for developers looking to rejuvenate the site and capitalize on the area's substantial growth potential. The location benefits from excellent access to a variety of shops and restaurants, including some of the largest retailers such as Whole Foods, Trader Joe's, Target, Ralphs, Bed Bath & Beyond, Gelson's Market, and more.Sherman Oaks is an affluent and densely populated neighborhood in San Fernando Valley, with over 50,000 residents living within a square mile of the location. The area continues to experience significant growth, projected to continue well into 2023. This thriving neighborhood is home to major employers such as Warner Bros, Universal Studios Hollywood, and CBS Studios Inc., alongside higher learning institutions Millikan Middle School and Notre Dame High School.The intersection of Ventura Boulevard and Van Nuys Boulevard sees over 35,000 vehicles per day, adding to the impressive foot traffic, high-end retail environment, and bustling economy of the area. With an average household income of $128,575 within a 1-mile radius, businesses and investors can cater to an affluent consumer base that values quality and luxury. As part of this exceptional retail property,Mr. Furley's, one of the most popular bars and restaurants in the community, is among the tenants in this outstanding assemblage. This unique restaurant and bar boasts a prime location on the coveted Ventura Boulevard strip in Sherman Oaks, highlighting the area's vibrant nightlife and dining culture, bringing considerable foot traffic to the property.Overall, this remarkable commercial property provides an unparalleled investment opportunity in one of the most coveted high-end real estate markets in California.
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