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Views: 94 Updated: 12.08.23 Posted: 09.19.23 Status: Inactive 03.20.24

Summary

Price $6,061,362
Built/Renov 2013
Tenant Shoe Palace (Nice Kicks)
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corporate
Size/SF 2,379
Lease Start 01-01-2018
#Units 160
Price/SF $2,547.86
Expiration 01-31-2033
Tenant Type General Retail
NOI $409,142
R. Term 8.2
Ownership Fee Simple
Rent/SF $171.98
Increases 4.0%/1/yrs
Pop 5Mi 1,229,639
Lot/AC 0.06
Options 2/5yrs/4%
AHHI 5Mi $83,761

Lease Highlights

  • Brand new lease extension
  • Tenant has 9+ years remaining on their primary lease with 2 (5-year) options to extend
  • Lease features 4% annual rental increases
  • Lease guaranteed by Shoe Palace Corporate, a wholly owned subsidiary of JD Sports, a $7b revenue company

Location Description

Nice Kicks is conveniently located at the signalized, hard corner intersection of S Main Street and 9th, offering excellent visibility and easy access. The subject property is within a mile of popular attractions like Crypto.com Arena, Grammy Museum LA Live, Microsoft Theater, and Los Angeles Convention Center. The surrounding area is a thriving retail corridor, with national retailers such as...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Shoe Palace is a private athletic footwear and apparel retail chain. The company, which was founded in 1993 in San Jose, CA, carries only elite shoe and apparel brands. At the end of 2020, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 70,920 542,459 1,254,391
2023 Total Population : 65,947 520,083 1,229,639
2023 Employed Civilian Pop : 32,725 238,502 565,601
2023 Total Businesses : 16,972 37,178 60,885
2023 Average Household Income : $ 102,490 $ 76,835 $ 83,761
2023 Total Consumer Spending : $ 3204 M $ 12634 M $ 30763 M
2023 Median Age : 39 33 34
2023 Total Households : 36,017 188,242 423,217
2023 Pop Age 25+: Bachelor's Degree : 17,335 69,244 157,206
2023 Average Home Value : $ 1,094,770 $ 875,400 $ 899,383
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E 9th St Werdin Pl 2004 6,665 0.01 mi
W 9th St S Main St 2004 19,994 0.05 mi
S Los Angeles St E 9th St 2007 14,702 0.08 mi
S Main St E Olympic Blvd 2011 21,230 0.08 mi
S Broadway W 9th St 2011 24,909 0.10 mi
S Spring St W 8th St 2002 23,212 0.10 mi
E 9th St Santee St 2008 10,957 0.10 mi
S Broadway W 9th St 2012 15,400 0.12 mi
W 9th St Blackstone Ct 2002 28,171 0.12 mi
S Broadway W 8th St 2014 16,476 0.14 mi

Listing Broker

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