Retail Business for Sale in Culver City, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Culver City, CA 90232

Description

MODAA by SPF:architects Bespoke LIVE/WORK LOFTS over Premier RETAIL/DINING/GALLERY/OFFICE "MODAA was originally developed by SPF:a in 2007, designed to capture the flavor of the city’s 1920s art deco origin without conforming to the historic style. The façade, which has been designated by Los Angeles’ Cultural Affairs Commission as “Architecture as Art,” explores the variation, movement, velocity, and tempo of the city on all scales. As the building is sited exactly on the transition line between The Helms Bakery District and Culver City’s less developed eastern corridor, MODAA stands as a visual representation of the old and new of Culver City, and provides a gateway to its burgeoning arts and design scene. Materially, the façade features an arrangement of black and white Nordic Cement Panels that protrude at various depths. On the surface, the treatment creates a dynamic visual exchange with the street, but functionally serves as a rain screen, adds insulation, and acts as an acoustic diffuser to Culver City’s main artery. MODAA’s ground floor currently houses SPF:a’s studio, a global modeling agency, and an art gallery. The second-floor houses, currently, seven live/work, 2-story lofts featuring 16-foot ceilings, individual mezzanines, and glass sliding doors on the southern wall; these units are currently used as a co-working space/incubator."  -world-architects.com "The facade of the SPF:a office headquarters and MODAA Lofts explores the relationship between art and architecture. The facade design was approved by the City under "Architecture as Art" in fulfillment of the public art requirement for this live/work development project. SPF:a is only the second design firm to receive an "Architecture as Art" designation since 1995. Constructed of cement fiberboard panels, the facade of the building acts as a rain screen and shading system. The panels themselves, which vary in size, relief, and positioning are supposed to reflect the activities within the building. The floating membrane, which also serves a functional purpose, is designed to articulate the passage of time and represent a musical metaphor. Founded in 1988, Studio Pali Fekete Architects (SPF:a) has completed projects ranging in size and scope from 5,500 square foot private homes to the 300,000 square foot Getty Villa Museum renovation." -culvercity.org

Market Context

This retail in Culver City, CA is listed for sale. It has been on the market for 148 days. Compare it against other retail listings for sale in Culver City, CA — <a href="/search/sale/retail/california/culver-city">view the full market</a>.

As of Q3 2023, the Greater Los Angeles retail market showed rents up 0.5% year over year, and cap rates around 5.0%. Source: Consensus Q3 2023 market report.

Retail market FAQ

What is the typical cap rate for retail in Greater Los Angeles?
About 5.0% as of Q3 2023, per Consensus.

Unified Estimate

Medium Confidence

$316.57/SF – $428.29/SF

Mid: $372.43/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

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