13240 Riverside Dr, Sherman Oaks, CA 91423

Marcus & Millichap has been exclusively appointed to represent the ownership of 13240 Riverside Dr—a two-tenant retail property situated in the heart of Sherman Oaks. The property features shorter-term leases, offering a potential owner-user the opportunity to occupy 50% of the square footage in April 2025. Additionally, below-market rents provide a value-add investor with the ability to reposition the units upon lease expiration. Currently, Fly High LA and Vallee Cleaners fully occupy the property, running successful businesses. Vallee Cleaners, who has lease term until April 2025, has operated a thriving clothing alterations and laundering service on-site for nearly 15 years, with all dry cleaning processed off-site. Fly High LA, a medical marijuana store, signed a 2-year lease in November 2023. Upon signing, Fly High LA invested significantly in interior improvements, underscoring their commitment to the location.
This retail opportunity, spanning approximately 1,500 square feet, is situated on approximately 0.07 acres of LAC1.5 zoned land. The property is located on the south side of Riverside Dr, one block East of the intersection of Riverside Drive and Fulton Ave, which experiences a traffic flow of approximately 56,000+ vehicles per day. Each suite has pylon signage enhancing their visibility for future owner-users or tenants. The property includes a 5-car parking lot (Parking Ratio- 3.33/1,000 SF) accessed from the rear alley. Combined with ample street parking, this ensures convenient access for employees and customers. Furthermore, the property is one block north of the 101-freeway, the primary East/West freeway in the south San Fernando Valley. It is situated approximately 0.8 miles from Ventura Blvd and 2 miles from the Studio City Silver Triangle, a sought-after shopping destination featuring trendy tenants and restaurants.