8317 Painter Ave
Listing Price: $1,995,000.00
Property Overview
The Agnew | Serling Group of Marcus and Millichap is pleased to present 8317 Painter Ave, a 100% occupied retail shopping haven nestled in the bustling commercial heart of Whittier, CA, within Los Angeles County. Spanning an impressive 5,695 rentable square feet, this thriving 6-tenant retail center not only presents a compelling investment opportunity with significant value-add potential but also beckons Owner/Users seeking to establish a commanding presence in a dynamic and well-connected market. Resting on an expansive 0.39-acre parcel, the property generously offers 25 off-street parking stalls at a ratio of 4.39 per 1,000 SF. Boasting a synergic tenant mix, including a beauty salon, hairdresser, tanning salon, Kumon Learning Center, Endurance Sports Nutrition, and Mandalay Dental, 85% of the gross area operates on a flexible month-to-month basis, providing investors the immediate leverage to enhance rental income.
Currently, the average in-place monthly rent stands at $1.55/RSF/MG, representing an alluring 38% discount from the market rate. Additionally, strategic positioning just one parcel south of the signalized Whittier Blvd and Painter Ave intersection, a highly trafficked corridor witnessing 80,000+ vehicles daily, ensures sustained success for retail tenants. Situated across from the iconic Quad at Whittier, a 430,000+ square foot power center with marquee tenants such as Vallarta Supermarket, T.J. Maxx, Ross Dress for Less, Burlington, Michael’s, Rite Aid, and Petco, the property enjoys unrivaled visibility.
Property Highlights
» 100% Occupied Value Add Retail Shopping Center | Flexible Lease Terms | In-Place Rent 38%Below Market
» Owner User Opportunity | 85% of the Gross Leasable Area on Month-to-Month Leases
» Located One Parcel South of the Signalized Intersection of Painter Ave and Whittier Blvd, Over 80,000 Vehicles Per Day
» Tremendous Visibility with Over 170’ of Frontage
» Ample Off-Street Parking 25 Spaces (4.39/1,000 SF)
» Versatile Underlying Zoning | Whittier Blvd Specific Plan