Jon Paley brokered the sale of this retail property within close proximity to California State University Northridge. The freestanding building of 8,000 square feet on 30,000 square feet of land was sold “as is” for an all-cash price of $2,750,000. It was occupied by six (6) longtime tenants at below-market rents on month-to-month leases. The Buyer plans to remodel the building and increase the rates to market which will yield a healthy 7% return. Paley Commercial Real Estate managed the property on behalf of the Owner for several years prior to the sale, and procured an unsolicited offer that far exceeded their expectations.
Paley Commercial Real Estate has specialized in the selling, leasing, and managing of all types of retail, office, and industrial property throughout San Fernando Valley for nearly three decades. Jon Paley has consistently ranked as one of the area’s top commercial real estate brokers since 1984. This type of success is only achieved by providing all of our valued clients with current property values, lease rates, and market trends so all decisions can always be made with the most up-to-date information. We provide Commercial Property Owners with a “Free Market Evaluation” to determine if their investment is performing as it should. In addition, Businesses who are looking to either expand or contract can call upon us to perform a “no obligation” facility analysis to establish if their existing space suits their needs.