Restaurant Owner-User For Sale Beverly Grove 8016-8018 W 3rd St

The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present a versatile retail owner-user investment opportunity in Beverly Grove, Los Angeles. 8016 West 3rd St offers a prime location and extensive potential for restaurant, medical, or retail use. The property features two retail spaces: a fully built 1,920 SF vacant restaurant space and a currently occupied 1,000 SF retail space. Both spaces boast excellent signage and visibility, ensuring strong business exposure.
The 1,920 SF vacant restaurant space is well-equipped with existing fixtures, including an outdoor seating patio, grease receptors, a new walk-in fridge, water filtration, kitchen prep and cleaning areas, two individual ADA bathrooms, and high ceilings.
Significant building updates were completed in 2018, including new roofing, HVAC, ADA bathrooms, electrical, plumbing, decorative metal, canopy, fire system, structural steel, and concrete.
Strategically located on W. 3rd Street, a bustling shopping and dining district with a remarkable walk score of 95, this retail building is nestled between The Grove/Original Farmers Market and the newly renovated Beverly Center. The area boasts esteemed neighbors like Joan’s on Third, Sweetgreen, Mercado, Bacari, Verve, and Mendocino Farms, enhancing its appeal.
Additionally, the property offers a rare income-producing billboard sign on the roof, contributing to its revenue stream. There are also potential valet profit share opportunities to explore.
With over 950,000 people in a 5-mile radius and an average household income of $114,533, this infill location provides a significant demographic advantage. Prospective buyers can explore financing options, including SBA 504 or conventional loans, and significant capital improvements allow for potential cost segregation analysis. For more details, contact the listing agents.