An opportunity for investors and owner-users alike has arisen as a mixed-use office property located at 11500 Santa Monica Boulevard in Los Angeles has been listed for sale at an asking price of $12,750,000.
Constructed in 1995, this commercial office and retail building is situated at the signalized corner of Santa Monica Boulevard and Butler Avenue, offering a total of approximately 20,057 square feet of leasable space across three levels of office and retail units. Additionally, the property boasts the convenience of one level of subterranean parking for tenants and visitors, as stated in the property’s marketing flyer.
The property is located on commercially zoned land that spans around 12,580 square feet. Currently, the property is approximately 57 percent occupied, allowing potential investors to increase the building’s occupancy rate and generate additional rental income. Alternatively, an owner-user buyer could convert the property into a home base for an organization to grow within this location.
One of the property’s key highlights is its location in the heart of West Los Angeles, offering accessibility to the 405 freeway. In addition, the property is close to a diverse mix of popular restaurants, cafes, and retailers, including establishments such as Starbucks, Bank of America, En Sushi, The Nickel Mine, Good People, goop Rotisserie, and the Landmark Theatre.
The property’s proximity to institutions like UCLA, Cedars-Sinai Medical Center, and the Getty Center adds to its potential for attracting a diverse range of tenants from various industries located in the area.
Leading the marketing efforts for the property are T.C. Maker and William Althouse from Los Angeles-based WESTMAC Commercial Brokerage. The pair is working on behalf of a private owner, an entity associated with Los Angeles-based Michael Assar, according to public records.
