11699 San Vicente Boulevard
For Sale | Service Station | Business & Land For Sale in Prime Brentwood
Business + Real Estate
Los Angeles, CA 9004911699 San Vicente Boulevard
T.C. MACKER, CCIMPresident
DRE # 01232033
JENNIFER MOSCOSOAssociate
DRE # 02044716
TIMOTHY K. HAVESPresident
DRE # 01233336
11699 San Vicente Blvd. |Brentwood 2
Exclusive Listing By:
©2020 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.
WESTMAC COMMERCIAL BROKERAGE COMPANY1515 Sepulveda Boulevard
Los Angeles, CA 90025310.478.7700 | www.westmac.com
Company DRE# 01096973
PETROLEUM REALTY GROUP14 Monarch Bay Plaza, # 447Monarch Beach, CA 92629
949.636.3961 | www.petroleumrealtygroup.comCompany DRE# 01261345
11699 San Vicente Boulevard
OFFERING MEMORANDUM 3
11699 San Vicente Blvd. |Brentwood 4
WESTMAC Commercial Brokerage Company and Petroleum Realty Group are pleased to present the rare opportunity to purchase 11699 San Vicente Boulevard, a service station situated on a triangular lot at the northeast corner of San Vicente Boulevard and Barrington Avenue in Brentwood Village. The offering includes the service station, business currently operating as Conserv Fuel, along with the real estate.
11699 San Vicente Boulevard is comprised of twelve (12) fuel hoses under two (2) canopies and a ± 99 square foot payment booth and limited item C-Store, which are situated on 0.16 AC of land (± 7,098 SF per parcel map), zoned LAC1.5-1VL with a CUP for gas station use.
The owner of the subject property currently operates the fuel facility. The station has two (2) 20,000 gallon double walled fiberglass tanks that were installed in 2006. The tanks are split to carry four products, diesel, E-85, 91 and 87.
11699 San Vicente Boulevard is a rare opportunity to purchase a very profitable gas business at an easily accessible bustling 3-way intersection, with an additional opportunity to expand and add large C-Store on the site. The property comes with a clean phase one with attached "No Further Action" letters, allowing for potential future development opportunity on the land. The zoning allows for other uses including multifamily, retail and office (buyer to verify), all of which are in significant demand in this location.
The Offering:Twelve Pump Gas Station with Two 20,000-Gallon Tanks at
Bustling 3-way Intersection in Brentwood Village
Business + Real Estate
OFFERING MEMORANDUM 5
Business + Real Estate
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11699 San Vicente Blvd. |Brentwood 6
ADDRESS11699 San Vicente Blvd., Los Angeles, CA 90049
APN4401-018-016
BUILDING SIZE± 99 SF
LAND SIZE0.16 AC(7,092 SF per tax map)
BUILT1973
PROPERTY TYPEService Station
ZONINGLAC1.5-1VL(CUP for gas station use)
# OF FUEL HOSESTwelve (12)
# OF BUILDINGS One (1) small pay booth
FRONTAGE110' Gorham96' Barrington46' San Vicente
CURB CUTSFour (4)
PROPERTY INFORMATION
OWNERSHIP Fee Simple;includes business
TOTAL GALLONS 1,978,270 (2019)
TOTAL SALES $7,906,904 (2019)
GROSS PROFIT $1,509,280 (2019)
ASKING PRICE $9,000,000
PRICE/SF $1,269/SF on land
Offering Summary
Property Profile
PARCEL MAP
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OFFERING MEMORANDUM 7
CANOPY 2
CANOPY 1C-STORE
Offering Summary
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S. BARRINGTON AVE
GORHAM AVE
SAN VICENTE BLVD
11699 San Vicente Blvd. |Brentwood 8
C-Store
OFFERING MEMORANDUM 9
ESTABLISHED IN 1973
The station has two (2) 20,000 gallon double walled fiberglass tanks installed in 2006. The tanks are split to carry four products, diesel, E-85, 91 and 87.
The station does extremely well selling approximately 5,000 gallons a day of unbranded petroleum and diesel product. There is a small Kiosk that caters for convenience items. With this sale there is no liability of an existing fuel contract, a new buyer can continue as an independent operator or sign a new fuel agreement with a branded supplier which of course will have a substantial incentive associated with it. Details of available suppliers upon request.
OPERATIONS SUMMARY
4 CURB CUTSFOR EASY ACCESS
+ $7.9MM GROSS INCOME
(2019)
ROOM TO ADD A
CONVENIENCE STORE
± 5,000/DAYGALLONS SOLD
12 FUEL HOSES
2 - 20,000 GALLONFUEL TANKS
Business Profile11699 San Vicente BLVD.
C-Store
FRONT
REAR
11699 San Vicente Blvd. |Brentwood 10
BUSINESS FINANCIALS
FUEL SALES GALLONS SOLD SALES COST OF GOODS GROSS PROFIT MARGIN
REGULAR 1,050,261 $3,811,580 $3,088,860 $722,720 0.688MIDGRADE 227,766 $857,577 $694,311 $163,266 0.717PREMIUM 529,960 $2,048,355 $1,651,413 $396,942 0.749DIESEL 35,190 $137,348 $106,349 $30,999 0.881E85 135,092 $375,009 $284,671 $90,338 0.669
TOTAL FUEL 1,978,269 $7,229,869 $5,825,604 $1,404,265 0.710
C-STORE $677,035 $572,020 $105,015
TOTAL $7,906,904 $6,397,624 $1,509,280
2019 GROSS PROFITSFuel Sales
Other Sales
OFFERING MEMORANDUM 11
11699 San Vicente Blvd. |Brentwood 12
SALES COMPARABLES (real estate only)
1006-1010 BROXTON AVE 11723-11733 BARRINGTON CT 1010-1060 GLENDON AVE 136-142 S BARRINGTON PL
SITE ADDRESS TYPE SALE PRICE SALE DATE BLDG SF $/PSF LAND SF LAND $/PSF
1006-1010 Broxton Ave Retail $13,500,000 10/21/2019 9,852 $1,370 10,890 $1,240
11723-11733 Barrington Ct Retail $11,074,000 8/5/2019 9,427 $1,175 8,276 $1,338
1010-1060 Glendon Ave (Part of Multi-Property Sale) Retail $6,695,524 6/7/2019 6,919 $968 19,166 $349
136-142 S Barrington Pl Retail $5,500,000 12/12/2018 4,413 $1,246 5,227 $1,052
Few properties have traded in the area in the past few years. There is high demand and the properties in this area have high value. In the past 2 years, only 2 sales have been reported in Brentwood, and 2 in neighboring Westwood.
OFFERING MEMORANDUM 13
SALES COMPARABLES (real estate only)
SPECIFIC PLAN San Vicente Scenic CorridorZONING C1.5-1VLHEIGHT 45 FtSTORIES 3FAR 1.5TOC Not Eligible
DEVELOPMENT POTENTIAL
Buyer to verify all information independently
Gross Buildable10,188 SF
The finding and recommendations in this report are based upon public information available. We believe that this report provides factual review of current zoning designation and development regulations for the Site. However, due to discretionary methods used by the City of Los Angeles for denoting zones and previous zoning actions, it is possible that this information may not reflect future City actions related to the subject site. Also, regulations and procedures for the planning and development process in the City of Los Angeles are frequently changed or updated. For these reasons, Seller, Petroleum Realty Group, nor WESTMAC Commercial Brokerage Company cannot guarantee the accuracy of this report and cannot guarantee that there are no errors or omissions in this report.
11699 San Vicente Blvd. |Brentwood 14
PROPERTY HIGHLIGHTSVALUE ADD/DEVELOPMENT OPPORTUNITY11699 San Vicente Blvd. is enhanced with a CUP for gas station use, Currently, there are two canopies with a total of twelve fuel stations and a small payment booth, with room to add a convenience store which gives buyers the opportunity of increasing their rent potential. The property also has a clean phase one, with the potential for other uses including multifamily, retail and office (buyer to verify).
POPULAR RETAIL COREA popular area for dining and coffee for local residents is located in Brentwood Village at the intersection of Barrington and Sunset. More than a dozen restaurants and coffee shops are located within a two-block stretch offering a wide variety of cuisine. 11699 San Vicente is located in prime Brentwood Village. Brentwood Village has a vibrant retail core that includes tenants such as: Whole Foods, and many other high quality retailers within a 1-mile radius of the property.
AFFLUENT DEMOGRAPHICSLocated between the beautiful Santa Monica mountains and sandy shorelines, amongst a high-powered commercial district, and some of the city's top-rated restaurants lies Brentwood, which in local parlance, is known as one of the "Three B's", along with Beverly Hills and Bel Air due to it's affluent residence and neighborhoods. 11699 San Vicente is located in prime Brentwood, at one of the area's busiest intersections, where business caters to the many high-earning demographic that reside in the surrounding luxury neighborhoods.
HIGH TRAFFIC LOCATIONLocated at the 3-way signalized intersection of Barrington, Gorham and San Vicente, 11699 San Vicente Blvd. sees a daily traffic count exceeding ±33,000 CPD. Coupled with the convenient ingress and egress complemented by four (4) curb cuts, this easily accessible location makes the property a patron favorite.
OFFERING MEMORANDUM 15
1611699 San Vicente Blvd. |Brentwood
17
11699 San Vicente Blvd. |Brentwood 18
Brentwood is a neighborhood in the Westside of Los Angeles, California. The 2000 U.S. census counted 31,344 residents in the 15.22-square-mile Brentwood neighborhood—or 2,059 people per square mile, among the lowest population densities for the city and the county. In 2008, the city estimated that the population had increased to 33,312. In 2000 the median age for residents was 35, which was old for city and county neighborhoods. The percentages of residents aged 50 and older were among the county's highest.
Brentwood is located at the base of the Santa Monica Mountains, bounded by the San Diego Freeway on the east, Wilshire Boulevard on the south, the Santa Monica city limits on the southwest, the border of Topanga State Park on the west and Mulholland Drive along the ridgeline of the mountains on the north.
A popular area for dining and coffee for local residents is located in Brentwood Village at the intersection of Barrington and Sunset. More than a dozen restaurants and coffee shops are located within a two-block stretch offering a wide variety of cuisine.
With housing ranging from luxury hillside homes to both luxury and affordable housing multi-family complexes, Brentwood boasts a wide range of great places to live.
BRENTWOODLuxury shopping, dining and lifestyle
Area Summary
OFFERING MEMORANDUM 19
BRENTWOOD:
ZILLOW HOME VALUE INDEX
Med. Home Value $2,761,607
ZILLOW RENT INDEX
Med. Rent Price $5,548
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11699 San Vicente Blvd. |Brentwood 20
POPULATION 1-MILE 3-MILE 5-MILE
Population (2020 Estimate) 39,175 231,864 517,079
Population (2025 Forecast) 39,897 233,713 520,348
BUSINESS 1-MILE 3-MILE 5-MILE
Total Businesses 3,759 23,912 47,805
# of Employees 27,704 303,706 495,038
Total Consumer Spending $594,914 $3,183,323 $7,202,612
HOUSEHOLD 1-MILE 3-MILE 5-MILE
# HH (2020 Estimate) 20,181 104,974 236,238
Med. HH Income (2020) $98,650 $97,768 $97,676
Avg. HH Income (2020) $128,969 $130,012 $131,588
DISTANCE FROM 11699 SAN VICENTE
1-3-5 MILEDemographics
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11699 San Vicente Boulevard
OFFERING MEMORANDUM 21
Location Map
11699 San Vicente Blvd. |Brentwood 22
This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company, Petroleum Realty Group or by the Seller.
This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
DISCLAIMER
OFFERING MEMORANDUM 23
Los Angeles, CA 9004911699 San Vicente Boulevard
T.C. MACKER, CCIMPresident
DRE # 01232033
TIMOTHY K. HAVESPresident
DRE # 01233336
Contact: JENNIFER MOSCOSOAssociate
DRE # 02044716