4034 Crenshaw Boulevard, Los Angeles, CA 90008
Commercial property
Sold October 2024
Listing Agent: Vineendra Jain (DRE #01413466) · Listing Office: Ingenious Asset Group, Inc. · Contact: 310-331-8552 · Bought with: Roger Glickman · Roger Glickman · MLS #24398655 · Source: CRMLS
About this commercial property
Trust Sale. No Court confirmation required. Rare opportunity to acquire a prime commercial NNN property on a ground lease in highly sought-after Leimert Park. First time for sale, since subject property was developed in 2001. 21,877 sq. ft. (=0.5 acres) lot, zoned LAC2, on the south-east signalized corner of Crenshaw Blvd. & Martin Luther King Jr. Blvd. Tenant is Krispy Kreme, with current lease term until Oct. 31, 2029. Tenant has 2 additional 5-year options to extend beyond Oct. 2029, with annual CPI increases. Starting CAP rate of 5.00% effective Nov. 1, 2024, when the monthly NNN base rent will be $20,743.32. Annual CPI increases with minimum 2.00% effective Nov. 1, 2025. Seller is an independent Trustee, and cannot make any representations as to the condition, history of the subject property. Sold AS IS and WHERE IS. Buyer to conduct their own investigations.
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history