Value-Add Fashion District Retail Storefronts
15,000 SF | Vacant | Retail Building | Online Auction Sale | Los Angeles, CA 90021
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
- Square Feet
- 15,000 SF
Listing Contacts
Sehyung Kim
Verified Profile
Carlos Silguero
Verified Profile
- Property Info
Property Overview
Lee and Associates - Los Angeles exclusively presents the opportunity to acquire the fee simple interest in 948 Crocker Street, a multi-tenant retail property in the vibrant Fashion District of Los Angeles, California.
This 15,000-square-foot, single-story masonry storefront was constructed in 1978, which was significantly remodeled in 2010. The building features 18-foot ceilings and a 20-foot building height. The facility boasts nine potential glass storefronts and tenant signage opportunities for each storefront. The building sits on a 0.34-acre land parcel that is located in an Opportunity Zone, allowing for significant potential tax incentives. Zoned M2, the location is permitted for a range of uses, including manufacturing, warehousing, distribution, research and development, and standard retail.
The property is currently 100% vacant, presenting an owner-user opportunity or an opportunity for the savvy investor who is familiar with long term projects in the area, such as that planned on the City Market site that currently has some of the hottest restaurants in downtown.
Situated near the heart of the Fashion District of Downtown LA, 948 Crocker Street benefits from placement within a high concentration of independently owned retail and wholesale businesses. Major attractions within 5 minutes of the property include the LA Convention Center, the Crypto.com Area, and LA LIVE. Within 2 miles of the property, the population exceeds 198,000 and has posted growth of more than 14% since 2010. These residents are avid shoppers and deliver impressive consumer spending year after year, with total spending during 2023 surpassing $1.8 billion.
Enhance any investment portfolio with the perfectly positioned and highly visible storefronts in LA's Fashion District at 948 Crocker Street.
This 15,000-square-foot, single-story masonry storefront was constructed in 1978, which was significantly remodeled in 2010. The building features 18-foot ceilings and a 20-foot building height. The facility boasts nine potential glass storefronts and tenant signage opportunities for each storefront. The building sits on a 0.34-acre land parcel that is located in an Opportunity Zone, allowing for significant potential tax incentives. Zoned M2, the location is permitted for a range of uses, including manufacturing, warehousing, distribution, research and development, and standard retail.
The property is currently 100% vacant, presenting an owner-user opportunity or an opportunity for the savvy investor who is familiar with long term projects in the area, such as that planned on the City Market site that currently has some of the hottest restaurants in downtown.
Situated near the heart of the Fashion District of Downtown LA, 948 Crocker Street benefits from placement within a high concentration of independently owned retail and wholesale businesses. Major attractions within 5 minutes of the property include the LA Convention Center, the Crypto.com Area, and LA LIVE. Within 2 miles of the property, the population exceeds 198,000 and has posted growth of more than 14% since 2010. These residents are avid shoppers and deliver impressive consumer spending year after year, with total spending during 2023 surpassing $1.8 billion.
Enhance any investment portfolio with the perfectly positioned and highly visible storefronts in LA's Fashion District at 948 Crocker Street.
Property Details
- Class
- B
- Year Built
- 1978
- Stories
- 1
- Property Subtype
- Storefront Retail/Office
- Lot Size (sq. ft)
- 14,810 SF
Highlights
- 948 Crocker Street offers a 15,000-SF multi-tenant retail property with nine storefronts in LA’s Fashion District, visible to more than 25,000 VPD.
- Prime downtown location just off Interstate 10 and within five minutes of the Convention Center, the Crypto.com Arena, and LA LIVE.
- Positioned within a dynamic and high-demand retail submarket, with leasing activity up by 142% over the past 12 months.
- Growing 2-mile population of more than 198,000 has increased 14% since 2010 and contributed $1.8 billion in consumer spending during 2023.
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