Property Detail

Description

Park Broadway Shopping Center is a 15,470-square-foot, multi-tenant retail strip center occupying a prominent full-block position on South Broadway in Los Angeles. Situated on approximately 34,522 square feet of land, the property comprises eleven retail suites ranging from 500 to 4,939 square feet and is currently 95.48% occupied by a diverse mix of internet-resistant, service-oriented tenants. The tenant roster includes a fast-food operator, coin laundry, medical office, chiropractic practice, nail salon, wireless retailer, donut shop, insurance agency, and tax service businesses that serve daily needs and generate consistent foot traffic regardless of broader e-commerce trends. The center benefits from a generous parking ratio of 3.1 spaces per 1,000 square feet, a meaningful competitive advantage in an urban infill environment where parking is often scarce. The property is offered at $6,990,000, representing approximately $452 per square foot and a projected cap rate of 6.41% upon full implementation of the triple-net leases already in place.