Freestanding For Sale
4,790 Sq Ft
Hudson Partners Inc as exclusive listing agent, is pleased to present the opportunity to purchase 215 Central Ave, 313 W Wilson Ave and 318 Salem St, Glendale, CA. The improvements include approximately 4,790 Square feet of retail restaurant on approximately 19,809 SF lot (total of three parcels which includes two surface parking lots 313 W Wilson & 318 Salem St).
The subject property is located within epicenter of the urban infill core of Glendale. A wide variety of alternative uses including medical office, surgery center, service restaurant, hospitality and multifamily are supported under the DSP (Downtown specific plan). In addition, the subject property provides the ability for an investor or an owner user to reposition the property with above standard surface level parking.
The building has exceptional efficiency, flexibility and scalability for many different uses including a conversion to medical due to the generous amount of parking ratio. Increase land values and construction costs, coupled with lack of available land in downtown Glendale, have created barrier to new development.
The success of high-density residential development in the Glendale is driving the value of retail and office upwards. There have been over 5,000 luxury apartments units recently completed or under construction with the downtown Glendale market. Furthermore, Glendale currently commands the highest multi-family rents in the San Gabriel valley where occupancy is currently at 95% and new units are quickly being absorbed.