Listing Detail

IAG

4243 Overland Ave., Culver City, CA 90230

4243 Overland Ave 700w.jpg

Probate Sale, subject to Court confirmation and overbidding in Court. Single-tenant restaurant with potential for redevelopment in highly desirable Culver City. Strategically located in the corner of Overland and Barman Ave. For sale AFTER 74 years! The restaurant has both indoor dining, and a big patio for outdoor dining too, with parking in the back. Cafe Laurent, the current tenant, has been there since May 2013. Current lease term expires April 29, 2023, with no known options to extend. Current monthly rent is $4,500, which comes to $3.80 modified gross. Market rent for similar properties in the area is around $5.50-$6.50 NNN. Hence, there is upside in rent once the current lease term ends, in about 19 months. Seller is a Court-appointed fiduciary and cannot make any representations as to the condition and history of the subject property. Property is being sold AS IS and WHERE IS with current tenant in place. Buyer to conduct their own investigations.

Property Highlights
Street 4243 Overland Ave.
City Culver City
State CA
Zip 90230
Status Available
Property Type Retail
Asking Price $1,800,000
Year Built 1947
Building Sq Ft 1,183
Number of units 1
Value per Square Feet $1,521.56
Broker Name Vinny Jain
Telephone (310) 207-2288
Email sales@iagpm.com
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