Investment Highlights
Ideal uses: Restaurant/Bar/Entertainment/Retail (property is across the street from R?publique Restaurant, Cafe & Bakery).
Strong income streams during permit-entitlements (Current CAP 5.24%) if Buyer elects to develop or add value.
Walking Distance to La Brea/Wilshire Metro Subway (Purple, D, Line).
Property located in the heart of the La Brea development revitalization corridor.
Large Retail/Restaurant Space with classic 1930's fixtures.
Three contiguous properties, 611 S La Brea, 615 S La Brea, and 617 S La Brea, to be sold separately.
Executive Summary
Rare and unique opportunity for retail/restaurant owner/users and future development in the dynamic La Brea revitalization corridor. 617 S La Brea Ave, which borders the 200,000 SF 639 S La Brea Hotel and Residences project, is the perfect location for concept or upscale dining and/or entertainment. The 600 block of S La Brea is home to the acclaimed R?publique Caf?, Restaurant & Bakery. Currently hosting Mix Furniture, 617 S La Brea currently utilizes 5,000 SF for retail floor space (1st floor) and 1,400 SF of office/administrative space (2nd Floor). If adding value to the property, buyers may utilize significant rental income from the property during permits-entitlements through Mix Furniture leaseback (NOI of $555,956 - CAP Rate 5.24%). The property is zoned LAC2, is located in a Tier 4 TOC Zone. It is on the same block as new La Brea/Wilshire Metro Subway (Purple, D, Line), which is scheduled to open in 2024.
