Calabasas Place

Calabasas, CA (Los Angeles County)
View Along Old Topanga Canyon Road
Starting Bid: $2,500,000 Online Auction: Jul 26-Jul 28, 2021

  • Unique opportunity to acquire a high-quality triple net leased retail strip center with a well-diversified tenant mix, small suites, and low risk.
  • Easy to manage with value-add potential in both undeveloped land on Mulholland Hwy and upside potential in the below market existing lease rates.
  • Recently renovated with limited deferred maintenance or near-term capital requirements and tenants provide their own improvements.
  • Dense, infill location in an established and desirable Los Angeles community limits future competition from new construction or redevelopment.
Executive Summary

Calabasas Place is a ±10,000 SF shopping center in Calabasas, California. Constructed in 1984 and renovated in 2010, the Property consists of a single-story retail building situated on a ±0.8-acre parcel. The center is currently 100% occupied by a well-diversified roster of tenants, with an in-place NOI of approximately $411,084. The site features unobstructed store signs, monument signage opportunities, easy ingress/egress, and a parking lot located in the front of the center, with ±23 striped spaces and one handicap space. Additionally, there are six striped spaces in the rear parking lot, which is owned by the City of Calabasas, for which this Property has a permit to use. This offering also includes undeveloped land located behind the center, providing the potential opportunity to develop a ±1,700 SF outparcel building and ±12 additional parking spaces. Calabasas Place is ideally positioned on the signalized intersection of Mulholland Highway and Old Topanga Canyon Road, providing excellent visibility. As of 2020, the Property’s demographics have ±55,288 individuals residing within a 3-mile radius, with an average household income of ±$150,271. In the same year, the total specified consumer spending within a 3-mile radius of the Property accounts for ±$794.2MM, and there are ±4,492 businesses and ±32,902 employees. Property tours are available by appointment ONLY. Please contact Patrick DiCesare at 310-871-5911 or to schedule.

Property Facts
Sale Type
Sale Condition
Auction Sale
Property Type
General Retail
Property Subtype
Building Size
10,000 SF
Building Class
Lot Size
0.8 Acre
Year Built
Percent Leased
Building Height
1 Story
Opportunity Zone
Location Information
Location: 3840 Old Topanga Canyon Rd, Calabasas, CA 91302