We are pleased to present a net lease retail investment opportunity in the Highland Park neighborhood of Los Angeles located on the main thoroughfare of N Figueroa St just off the 110 Freeway. 4201 N Figueroa St was recently renovated by the tenant and leased to Enterprise-Rent-A-Car, a NNN corporate lease that commenced on February 1, 2024. The original term is ten years* with two five-year options; throughout the base term, there are annual rent increases the greater of CPI or 2%. Minimal landlord responsibilities, allowing an investor to passively collect cash flow; at the asking price, the CAP rate is 5.74%. Enterprise-Rent-A-Car has over 8,000 locations nationwide and is the leader of car rental providers in the industry. Rare opportunity to acquire a NNN corporate lease with long term development potential; the corner lot totals12,051 SF zoned [Q]C2-1VL-HPOZ in a Tier 3 TOC, allowing for residential development and potential to build31 apartment units by-right and up to 52 units utilizing the TOC benefits (Buyer to verify). The Highland Park neighborhood is considered one of the most sought-after submarkets in Los Angeles as it sits in the center of three popular work and entertainment destinations with Downtown Los Angeles to the south, Glendale to the west and Pasadena to the east.

Listing courtesy of Neema Ahadian of Marcus & Millichap

Based on information from the The MLS as of 2025-04-20 05:57 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.