Auction - REIT Sale | Former Look Cinema 8200 3rd St 38,913 SF Retail Building Downey, CA 90241 $1,044,428 CAD ($26.84 CAD/SF)

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 8200 3rd Street in Downey, California (the “Property”). Formerly occupied by LOOK Cinemas, the Property is being offered significantly below replacement cost, providing a compelling opportunity for investors and owner-users to acquire a highly visible retail asset with significant value-add and adaptive reuse potential.
Constructed in 1997, the Property consists of a two-story, free-standing building totaling ±38,913 gross square feet on a ±1.04-acre (±45,490 SF) parcel in the heart of Downtown Downey. Previously operated as a 10-screen premium movie theater featuring an upgraded interior build-out with bar infrastructure, luxury seating, enhanced lobby areas, and elevated food and beverage amenities. The Property previously maintained a full liquor license, presenting the opportunity for a future owner to pursue relicensing, subject to all applicable approvals. The site benefits from exceptional visibility with frontage along three (3) roads, including ±261 feet on 3rd Street and ±175 feet along both New Street and La Reina Avenue. Convenient access to adjacent public parking garage and surrounding street parking, further supports a wide variety of commercial uses. The Property presents an exceptional repositioning opportunity for entertainment, experiential retail, fitness, food and beverage, specialty retail, or mixed-use concepts. Investors have the opportunity to create significant long-term value through lease-up at market rental rates (CoStar retail market rents of ±$29 – $36/SF NNN). The favorable DDSP (Downtown Downey Specific Plan) zoning provides significant flexibility for redevelopment, adaptive reuse, and a broad range of commercial uses.
The Property is strategically positioned in the heart of Downtown Downey, in the Mid-Cities Submarket within one of Southeast Los Angeles County’s premier retail, dining, and entertainment destinations. The highly walkable urban core boasts a Walk Score of 91, supporting strong pedestrian activity and convenient access to an extensive mix of restaurants, retailers, entertainment venues, and neighborhood amenities. The Property benefits from exceptional regional connectivity with convenient access to I-5 (±2-Mi with ±238,545 VPD), I-105 (±2.5-Mi with ±215,463 VPD), and I-710 (±2-Mi with ±221,035 VPD), providing efficient travel throughout Los Angeles County and Southern California. Located within the Los Angeles-Long Beach-Anaheim Metropolitan Statistical Area (MSA), the trade area is supported by a dense residential population, a strong daytime workforce, and excellent demographics that continue to support retail, entertainment, dining, and mixed-use demand. The Property is positioned within a thriving trade area supported by nearly ±250k residents with an average household income exceeding $116k within a 3-mi radius, expanding to nearly ±736k residents with an average household income of ±$107,074 within a 5-mi radius.