NNN Retail Asset Sells for Near Record Price in LA

A single-tenant property occupied by New York-based ice cream shop Ample Hills Creamery in Los Feliz has traded hands for $1,735 per square foot between two private investors. The per-square-foot sales price is one of the highest prices paid for a single-tenant property in the Hollywood/Silverlake market of Los Angeles.

The property totals 2,204 square feet and also features a 1,828-square-foot patio seating area. The total sales price was $3.825 million, representing a cap rate of 5.17%. It has been fully occupied since October 2018.

SRS Real Estate Partners’ national net lease group VP Ara Rostamian and managing principals Patrick Luther and Matthew Mousavi represented the seller, while Sharon Carz of SVN represented the buyer.