owner / user and/or for sale investment opportunity · 860 121 3,008 1,031 traffic volume 0.04 mi...
TRANSCRIPT
OWNER / USER AND/ORINVESTMENT OPPORTUNITYfo
r sal
e
www.CENOCORE.com
This proposal is brought to you by: KELLER WILLIAMS / CENOCORE3055 Wilshire Blvd. #650, Los Angeles, CA, 90010 | (213)799-1122 | [email protected] | www.CENOCORE.com
TABLE OF CONTENTS
executive summary
investment highlights
submarket overview
sales comps
data
confidentiality & disclaimer
contact
page 01
page 02
page 04
page 08
page 09
page 10
page 11
EXECUTIVE SUMMARY
Keller Williams / Cenocore, as exclusive agent, is proud to present a commercial retail space in rapidly booming area of
Koreatown, Los Angeles. The site is zoned C2-1, the subject’s location makes this lot all the more appealing, located along both
the Olympic and Crenshaw corridors.
Crenshaw Blvd. and Olympic Blvd. are two of the densest corridors in Koreatown. This area is a seasoned, culturally rich
submarket within Koreatown, boasting some of the most famous restaurants, spas, and nightlife attractions. The subject site
is conveniently located on the SW corner of Olympic and Crenshaw, providing excellent visibility and accessibility for future
multifamily developments. The creation of the Metro Station on Wilshire and Crenshaw makes this site an accessible, appealing
site for prospective and current residents.
Rapidly, Koreatown is becoming one of the hottest spots in Los Angeles, providing its patrons with a plethora of attractions,
shopping centers, bars, restaurants, and appealing new multifamily developments.
Proximate to the Crenshaw & Wilshire Metro Station. Located conveniently between the I-10 and Wilshire Blvd. Easy access to
other Koreatown amenities, such as Koreatown Plaza, Koreatown Galleria, Wiltern Theater, LINE hotel, and more.
1
1009-1023 Crenshaw Blvd.Los Angeles, CA 90019
Koreatown
5082-027-0235082-027-012
± 24,967 sqft
C2-1
1.5:1
All permit and plans to be verified by buyer
Gas station and retail
Gas station / convenience store / car wash
Address
Submarket
APN
Lot Size
Zoning
FAR
Due Diligence
Current Use Detail
Highest & Best Use
Los Angeles County is the most heavily populated county in
the nation, with approximately 10 million residents. This
includes 1 million that live in unincorporated areas within
the county. Neighboring counties includes Orange,
Ventura, Kern, San Bernandino, and Riverside. These
counties also boast very densely populated areas with
immense economic growth that has been and is ongoing.
Los Angeles is also the 2nd most populated city in the U.S.,
second only to New York. Its GDP is among the 20 largest
in the world, with continued growth.
INVESTMENTHIGHLIGHTS
2
3
PURCHASEOPTION
SUBJECTPROPERTY
1027 Crenshaw Blvd.Los Angeles, CA 90019
Koreatown
5082-027-0135082-027-014
± 1,771 sqft
± 14,697 sqft
C2-1
1.5:1
All permit and plans to be verified by buyer
Auto business
Gas station / convenience store / car wash
Address
Submarket
APN
Total Bldg Size
Total Lot Size
Zoning
FAR
Due Diligence
Current Use Detail
Highest & Best Use
PURCHASE OPTION
Located on the densest corridors in Koreatown
Proximate to Wilshire / Crenshaw Metro station
Popular area attractions
Trendy restaurants, bars, and nightclubs to supportthe increasing population of residents and visitors
Optimally located at the western edge of Koreatown,the epicenter of Koreatown development
INVESTMENT HIGHLIGHTS
4
Koreatown is located in the center of Los Angeles. This site is located minutes away from various, appealing submarkets within
Los Angeles, Including, not limited to Downtown, Miracle Mile, Beverly Hills, Century City, and Hollywood.
Koreatown is one of the most rapidly developing submarkets within Los Angeles. There is an exciting, vibrant new flavor to
Koreatown, due to the perfect mix of history- rich buildings, infused with the appealing modern structures that line the Wilshire,
6th, 8th street corridors. Due to these developments, many different ethnicities are making their homes in Koreatown. Thus,
there is a new, fresh, and hip feel to Koreatown, proudly boasting some of the most popular restaurants, coffee shops, bars, and
nightclubs that intertwine to make this area one of LA’s coolest, hippest submarkets.
Koreatown is one of the most densely populated areas within Los Angeles County, with about 43,000 people per square mile.
SUBMARKETOVERVIEWget to know koreatown
5
SUBMARKETOVERVIEWtransportation
metro
6
SUBMARKETOVERVIEW
RESTAURANTS
1. Hae Jang Chon Korean BBQ2. Byul Gobchang3. Chil Bo4. Cassell’s Hamburgers5. Flaming Clam Grill6. Seong Buk Dong7. Chosun Galbee8. Galleria Tonkatsu9. Miari Noodle House10. Peking Dumpling11. Wako Donkatsu12. O Dae San Korean BBQ13. Kony Pizza & Bar14. Sushi Ko15. Roll Roll Roll16. Le Monaco17. Goong Korean BBQ
18. BCD Tofu House19. Bistro on the Blvd.20. The Boiling Crab21. Kony Pizza22. Seed Bistro23. Slurpin Ramen Bar24. Keun Gama25. Cafe Korobokgur26. Honey Pig
27. Oo Kook Korean BBQ28. Taylor’s Steakhouse29. Sabores Oaxaquenos30. R Bar31. Los Comales Cafe32. Ondal33. Soot Bull Jeep34. Mazinga Z35. Sinulang All Kelang
SHOPPING MALLS
1. Koreatown Galleria2. Madang Plaza3. Vermont Galleria4. City Center on 6th5. Koreatown Plaza
36. Sun Ha Jang37. Kang Nam Restaurant38. Soban39. Baek Hwa Jung40. Bak Kung Korean BBQ41. Feng Mao42. Kushimbo43. Arado44. Chung Ki Wa
area highlights
7
SUBMARKET OVERVIEW neighborhood
8
3201 Wilshire Blvd.,Los Angeles, CA 90010-1301
Bldg Sq Ft
Lot Sq Ft
Sale Price
Price Per Sq Ft
2,156
16,889
$12,400,000
$5,751.39
Year Built
Zoning
Sale Date
Type
1970
LAC2
10/06/2017
SVC STA
9
SALES COMPS gas stations within submarket
2018 Total Population:
2023 Population:
Pop Growth 2018-2023:
Average Age:
55,540
56,574
1.86%
38.6
1 mile
599,320
611,139
1.97%
36.9
3 milepopulation
2018 Total Households:
HH Growth 2018-2023:
Median Household Inc:
Avg Household Size:
2018 Avg HH Vehicles:
20,180
1.69%
$42,284
2.7
1
1 mile
219,636
1.82%
$40,263
2.6
1
3 milehouseholds
Median Home Value:
Median Year Built:
$837,832
1954
1 mile
$735,704
1955
3 milehousing
DATA demographics
W Olympic Blvd
Crenshaw Blvd
W Olympic Blvd
W 10th St
Crenshaw Blvd
Country Club Dr
S Windsor Blvd
W 10th St
Country Club Dr
S Windsor Blvd
Collection Street
S Victoria Ave
Country Club Dr
Crenshaw Blvd
S Windsor Blvd
W 9th St
S Windsor Blvd
Country Club Dr
S Plymouth Blvd
S Windsor Blvd
Country Club Dr
Cross Street
0.02 W
0.05 SW
0.03 NW
0.03 NW
0.05 NE
0.04 NW
0.03 SW
0.02 NW
0.03 SE
0.04 NE
Cross StreetDist/Dir
33,506
32,646
35,969
137
28,832
2,448
860
121
3,008
1,031
TrafficVolume
0.04 mi
0.05 mi
0.06 mi
0.1 mi
0.11 mi
0.13 mi
0.15 mi
0.18 mi
0.19 mi
0.19 mi
Dist from Subject
2015
2017
2015
2017
2017
2014
2016
2017
2014
2014
CountYear
traffic
Total Specified Consumer Spending ($)
Total Transportation and Maintenance
Vehicle Purchases
Vehicle Expenses
Gasoline
Transportation
Automotive Repair & Maintenance
457,165
110,960
36,945
4,793
38,669
15,297
15,255
1 mile
4,628,365
1,101,764
359,039
46,231
403,267
139,437
153,790
3 mile
2018
510,043
130,736
41,605
5,510
49,409
17,584
16,628
1 mile
5,175,742
1,300,745
402,796
53,481
516,210
160,545
167,712
3 mile
2023
annual consumer spending
10
CRENSHAWb o u l e v a r d
1009-1023
CENOCORE
3055 Wilshire Blvd. #650, Los Angeles, CA, 90010
(213)799-1122
www.CENOCORE.com
Ray H. Kang / Daniel J. KimBRE# 0187 3381
[email protected]# 02012528