PRICE: $4,995,000

​

RETAIL/RESIDENTIAL ASSET

​

256 W. Florence Avenue and 7208-7218 S. Broadway is on the market for the first time in nearly 20 years!  The subject offering is a unique investment opportunity with untapped upside potential. The asset consists of seventeen (17) units, fourteen (14) retail storefronts, ranging from approximately 600 SF to 2,170 SF and three (3) residential units. There are currently two (2) commercial vacancies and one (1) residential, which allows an investor to add value immediately through lease up. 256 W. Florence Avenue and 7208-7218 S. Broadway offers a significant potential return, with a current 6.18% CAP rate and a 9.56% pro forma CAP rate. The subject properties sit on four contiguous parcels, boasting approximately ±17,074 SF of building on a ±24,812 SF lot.

 

The subject property is strategically located on the signalized intersection of W Florence Avenue and S. Broadway, a highly densely populated area with high vehicular traffic counts. 256 W Florence Avenue and 7208-7218 S. Broadway is just east of the 110 Freeway and west of Main Street, surrounded by many national retailers such as Jack in the Box, McDonald’s, Winchell’s Donut House, Wells Fargo Bank, and Popeyes Louisiana Kitchen and many more.