Apex Properties is pleased to present this extremely rare opportunity to acquire a single Tenant Pep Boys property with 86,050 sq ft of land in Culver City. Pep Boys signed a ground lease for the entire property in 1995 which expires in 2026. There will be a 12% increase in base rent in 2021. The Tenant also has (2) 5 year options to extend the terms of the lease with a 12% increase at each executed option.
The property is located in a very desirable neighborhood of Culver City along the busy and bustling commercial corridor of Sepulveda Blvd. With 250′ feet of frontage along Sepulveda Blvd, the possibilities are endless. Investors and developers will find that this is a dream opportunity when breaking down the price per sq ft of land. Culver City is booming and developing at a rapid rate, limiting the amount of land this size that can be developed.
At 1.97 acres of land with Commercial Zoning, this property has strong future development potential of commercial or residential units. Please feel free to contact us with any inquiries!