National scope. Local knowledge.
Los Angeles, CA | October 2011
Thorofare Capital has funded $725,000 to refinance a retail property located at 7965 Melrose Avenue, Los Angeles, California.
The Subject Property was constructed in 1950 (2010 renovated) and is comprised of three retail storefronts with one leased to Toki Doki, a popular Japanese clothing and gift store with multiple locations worldwide. The two remaining vacant store fronts are currently being marketed for lease at $7.00 per square foot, per month on a NNN basis. The property is located one block west of Fairfax on a highly trafficked portion of Melrose Avenue east of the Beverly Center. The property is currently generating approx. $87,000 in annual NOI with only one of the three equally sized retail store fronts leased and the loan is being personally guaranteed by the borrower.