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Berkus Business Complex 16102-16116 Hart St 14,678 SF 100% Leased Industrial Building Van Nuys, CA 91406 $5,710,732 CAD ($389.07 CAD/SF) 5.76% Cap Rate
Investment Highlights
- Fully occupied 14,678 SF industrial property with eight functional units, providing immediate cash flow and stability.
- Highly functional specifications including 14-foot clear heights, heavy power (2,400 amps, 3-phase), ground-level loading, and 100% climate control.
- Zoning flexibility (QMR1-1 & QP-1) accommodating a broad spectrum of industrial and commercial uses.
- Built-in rent growth through contractual annual escalations and in-place CAP rate of 5.76%, trending to 6.12% in Year 2.
- Favorable infill location with convenient access to the 405, 101, and 118 freeways and less than one mile from Van Nuys Airport.
Executive Summary
Marcus & Millichap is pleased to exclusively offer for sale 16102–16116 Hart
Street, Van Nuys, CA, a 100% leased, multi-tenant industrial property located
adjacent to Van Nuys Airport in the heart of the San Fernando Valley. Offered
at $4,175,000, the property represents a turnkey, stabilized investment in one of
the Valley’s most consistently high-demand industrial submarkets. The offering
equates to $284.44 per square foot and provides a compelling 5.76% in-place
capitalization rate, with market-rate rents averaging approximately $1.98/SF
and built-in annual escalations driving a Year-2 CAP rate of approximately
6.12%.
Constructed in 1989, the property comprises approximately 14,678 square feet
across eight functional industrial suites, each featuring efficient warehouse
layouts, dedicated 2nd floor office components, private roll-up doors,
and 100% climate controlled with individual HVAC systems. Situated on a
21,646-square-foot (0.50-acre) parcel zoned QMR1-1 and QP-1, the asset
supports a broad range of industrial, service, and commercial uses. Core
features, including 14-foot clear heights, 2,400 amps of 3-phase, 4-wire
power, and ground-level loading for every unit, make the property highly
adaptable for light manufacturing, distribution, storage, and specialty trade
users. The property also includes 29 on-site gated parking spaces, equating
to approximately 2.0 spaces per 1,000 square feet, a meaningful advantage in
a dense infill environment.
With full occupancy, durable tenant tenure, highly functional construction,
and a high-visibility corner location, 16102–16116 Hart Street presents an
opportunity to acquire a stable, income-producing industrial asset in one of
Los Angeles’ most resilient and high-barrier-to-entry industrial submarkets.
Street, Van Nuys, CA, a 100% leased, multi-tenant industrial property located
adjacent to Van Nuys Airport in the heart of the San Fernando Valley. Offered
at $4,175,000, the property represents a turnkey, stabilized investment in one of
the Valley’s most consistently high-demand industrial submarkets. The offering
equates to $284.44 per square foot and provides a compelling 5.76% in-place
capitalization rate, with market-rate rents averaging approximately $1.98/SF
and built-in annual escalations driving a Year-2 CAP rate of approximately
6.12%.
Constructed in 1989, the property comprises approximately 14,678 square feet
across eight functional industrial suites, each featuring efficient warehouse
layouts, dedicated 2nd floor office components, private roll-up doors,
and 100% climate controlled with individual HVAC systems. Situated on a
21,646-square-foot (0.50-acre) parcel zoned QMR1-1 and QP-1, the asset
supports a broad range of industrial, service, and commercial uses. Core
features, including 14-foot clear heights, 2,400 amps of 3-phase, 4-wire
power, and ground-level loading for every unit, make the property highly
adaptable for light manufacturing, distribution, storage, and specialty trade
users. The property also includes 29 on-site gated parking spaces, equating
to approximately 2.0 spaces per 1,000 square feet, a meaningful advantage in
a dense infill environment.
With full occupancy, durable tenant tenure, highly functional construction,
and a high-visibility corner location, 16102–16116 Hart Street presents an
opportunity to acquire a stable, income-producing industrial asset in one of
Los Angeles’ most resilient and high-barrier-to-entry industrial submarkets.
Property Facts
Amenities
- Fenced Lot
- Air Conditioning
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- 12131 Saticoy Villas
- Accommodation and Food Services
- -
- -
- -
- -
- 18550 Strathern Inc
- Public Administration
- -
- -
- -
- -
- 91 Enterprise LLC
- Public Administration
- -
- -
- -
- -
- Aci Medical Supply
- Retailer
- -
- -
- -
- -
- Creative Character Engineering
- Information
- -
- -
- -
- -
- First Healthcare Inc
- Health Care and Social Assistance
- -
- -
- -
- -
- Jaavs
- Public Administration
- -
- -
- -
- -
- Land Of Peace Hospice
- Health Care and Social Assistance
- -
- -
- -
- -
- Lerman Appliances
- Services
- -
- -
- -
- -
- V&A Construction, Inc.
- Construction
- -
- $13.57 CAD
- Industrial Gross
- May 2015
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| 12131 Saticoy Villas | Accommodation and Food Services | - | - | - | - | |
| 18550 Strathern Inc | Public Administration | - | - | - | - | |
| 91 Enterprise LLC | Public Administration | - | - | - | - | |
| Aci Medical Supply | Retailer | - | - | - | - | |
| Creative Character Engineering | Information | - | - | - | - | |
| First Healthcare Inc | Health Care and Social Assistance | - | - | - | - | |
| Jaavs | Public Administration | - | - | - | - | |
| Land Of Peace Hospice | Health Care and Social Assistance | - | - | - | - | |
| Lerman Appliances | Services | - | - | - | - | |
| V&A Construction, Inc. | Construction | - | $13.57 CAD | Industrial Gross | May 2015 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2224-024-028 | Improvements Assessment | $1,476,852 CAD |
| Land Assessment | $795,218 CAD | Total Assessment | $2,272,071 CAD |
Property Taxes
Parcel Number
2224-024-028
Land Assessment
$795,218 CAD
Improvements Assessment
$1,476,852 CAD
Total Assessment
$2,272,071 CAD
Contacts
-
Brin Hamblin -
Joshua Yaris -
Ryan Rothstein-Serling -
Martin Agnew -
Agnew | Serling Group
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Berkus Business Complex | 16102-16116 Hart St
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