The 14,544 SF lot is zoned [Q] CM-1VL. Existing improvements include a 3,467 SF office space that rents for $5,000 monthly. Please note, the “Q” condition states “residential uses shall be prohibited except as otherwise provided in the industrial zones”. According to a development report, an investor can build a footprint of 18,679 SF and envelop 22,995 SF. The site is ideal for an owner/user investor who can expect to collect $24 per SF yearly (based on pro-forma rents for retail stores in the area). The development site is conveniently located near neighborhood anchors such as California State University -Northridge (0.5 miles from subject property) and the Northridge Fashion Center (2.1 miles from subject property).
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