CBRE · Team Hollywood · Exclusively Listed
CAHUENGA AT SELMA
NEC CAHUENGA & SELMA · 1602–1608 N CAHUENGA BLVD · HOLLYWOOD, CA 90028
The anchor of the Cahuenga and Selma corridor, an iconic corner presents the opportunity to activate a fully built and permitted F&B space, supported by strong cash flow with future upside.
02 — THE ASSET
Turnkey hospitality space plus strong cash flow and upside on an irreplaceable corner.
Exceptional opportunity to leverage an existing, fully permitted food & beverage venue, either as an occupant or an investor. This multi-tenant property with impressive frontage on Selma and Cahuenga features a diverse rent roll, from a bustling daytime café, popular neighborhood bar and the headquarters of an acclaimed cultural organization. The future is bright with potential upside from two new building-top digital signs, just in time to capture incredible exposure with the upcoming world events. The corner works from morning coffee to last call, and every space in between.
TEAM'S RECOMMENDED ASK
$12,500,000
The ask reflects rent mark-to-market (+$135K–$230K), two rooftop signage income streams, Hollywood Opportunity Zone eligibility, accelerated first-year depreciation, and a turnkey, fully permitted F&B space ready on day one.
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BUILT 1926 · RENOVATED 2010 · LAC4 · OPPORTUNITY ZONE · APN 5546-008-009
Existing rent roll with future growth potential
| TENANT | USE | ANNUAL | PROFORMA / FUTURE UPSIDE |
|---|---|---|---|
| American Cinematheque | Creative office — entire 2nd floor | $300,000 | ~$3.23/SF/mo vs. ~$4.22 submarket; the entire 2nd floor rolls November 2027. Mark-to-market of +$25K–$92K. |
| ST FELIX HOLLYWOOD | F&B / bar — corner anchor. Vacating July 2026; rental rate based on prior long-term lease. | $228,000 | Proforma rent estimated at $24,000/month NNN including the alley space. The Alley presents additional upside via outside event rentals and activations. |
| Tribute Hollywood | Restaurant / lounge | $167,928 | Market rent aligns with the ground-floor retail program now underway at $5.00–$6.00 PSF NNN, subject to the operator, concept, and deal structure. |
| Café Hub | Café + window signage | $110,147 | Asking $6.00 PSF NNN (endcap), reflecting the value of the highly visible corner. |
| Billboard · Orange Barrel | Signage + revenue share | $15,671 | Two rooftop signs to digital; Orange Barrel engaged. Six-figure NOI potential (est.). |
| Effective gross income | $821,747 | ||
| Less operating expenses | ($69,311) | ||
| In-place net operating income | $752,436 | Rent mark-to-market alone adds +$135K–$230K of NOI, before signage. |
Line items per the 2026 proforma, rounded to the dollar.
St Felix is vacating, but its operator will continue to use the space for event rentals and pop-ups and keep the liquor license active. Our team will market St Felix for lease concurrently with the sale — a parallel lease-up strategy, not a condition of it — presenting an excellent opportunity for a new operator or an investor to re-tenant the space.
ASKING RENT · GROUND FLOOR RETAIL
ENDCAP · CAFÉ HUB
$6.00 PSF NNN
INLINE · ST FELIX
$5.00 PSF NNN
03 — THE AFTER-TAX ENGINE
The ask includes $3.08M of day-one deductions.
CBRE's Evaluation Advisory Group modeled the buyer's first tax year at the $11,950,000 basis. Year-one depreciation: $3,083,205, 25.8% of the purchase price, driven by 100% bonus depreciation on the five-year and fifteen-year asset classes, now permanent under the 2025 tax law and deductible in full at close. Stacked on Opportunity Zone eligibility, signage income, and rent mark-to-market, the buyer is not underwriting $752K of NOI. They are underwriting the after-tax engine beneath it.
Indicative analysis at $11.95M purchase price; CBRE Valuation & Advisory Services is revising the analysis at the recommended $12,500,000 ask.
Purchase-price allocation
Indicative estimates prepared by CBRE's Evaluation Advisory Group based on the asking price; not tax or investment advice. Figures assume 100% bonus depreciation under current law. Prospective purchasers should consult their own tax advisors.
04 — THE LEGACY
Built into Hollywood history.
Cahuenga and Selma, historic view. Archival image courtesy of ownership.
Before it became a hospitality corner, this 1926 building helped shape Hollywood's music and performance history. At 1604 N Cahuenga, Wally Heider Recording Studio hosted landmark sessions by Fleetwood Mac, the Beach Boys, Linda Ronstadt, Jimi Hendrix and other defining artists of the era. Portions of Fleetwood Mac's Rumours were recorded here.
Earlier, the building was home to the Cansino dance studio associated with Rita Hayworth and her family. Next door at 1608, drummer Shelly Manne opened Shelly's Manne-Hole, the celebrated jazz club that welcomed generations of important performers and is commemorated by a historic sidewalk plaque.
These were not incidental occupants. Music, performance, nightlife and hospitality have shaped this corner for nearly a century—the same cultural lineage that continues to define the Vinyl District today.
05 — THE LONG VIEW
One corner. A larger canvas.
1602–1608 N Cahuenga can serve as the strategic starting point for a broader assemblage along the east side of Cahuenga. The surrounding pattern of smaller parcels creates a potential path to expanded frontage, greater site control and future development scale through separately negotiated acquisitions.
The existing building also carries an unusual element of embedded optionality: it was originally designed to accommodate three stories. Together with the property's location within the Hollywood Opportunity Zone, that history gives future ownership several avenues to evaluate—from continued income and re-tenanting to expansion, reinvestment and a longer-term assemblage strategy.
HOLLYWOOD OPPORTUNITY ZONE
Potential relevance for qualifying investment strategies
ORIGINAL DESIGN
Building designed to accommodate three stories
ASSEMBLAGE POTENTIAL
Strategic starting point on the east side of Cahuenga
Prospective purchasers should independently evaluate ownership, availability, zoning, structural capacity, entitlements, lot ties, Opportunity Zone qualification and potential tax treatment with their legal, tax and technical advisors.
06 — THE CORRIDOR
HOLLYWOOD, CALIFORNIA — NAMED BY OWNERSHIP
Between Hollywood and Sunset, bounded by Schrader and Gower, sits a district with a legacy behind it.
The Vinyl District demonstrates Hollywood placemaking at its best, with a cluster of new boutique hotels, rooftop destinations, and chef-driven restaurants. In the past 10 years, this area has transformed into one of Hollywood's most active destinations.
Buyers are not betting on a single asset. They are buying into a vibrant district actively building on destination marketing and demand.
The World Cup showed that Los Angeles performs as an international destination. With the Super Bowl and the Olympics ahead, the opportunity is unparalleled.
CONTINUED GROWTH · ENTITLED OR UNDER CONSTRUCTION
07 — THE NEXT CHAPTER
The Cahuenga corridor's next chapter is already being written.
The Cahuenga and Selma corridor has become a destination for hospitality, entertainment, housing, and creative office. In addition to the many popular boutique hotels and restaurants in this area, a number of new developments are planned, including Sunset & Wilcox.
The recent lease of the former Amoeba store to Bathhouse, along with Bristol Farms at Selma and Argyle, signals fresh investment in the corridor. The opening of the Blue Note Jazz Club and the long-awaited activation of the Cinerama Dome and the ArcLight will further enhance the vibrancy and rent potential of this corridor.
This corner sits directly in the path of that momentum.
A 25-year lease signed March 2026 in the former Amoeba Records building; one of the largest retail commitments in Hollywood in years.
Premium grocer serving Hollywood residents and workers. Opened April 2026; signals confidence in the neighborhood's growth.
National jazz institution; opened late 2025.
Transit-oriented density, with up to 31,668 vehicles per day past the corner.
08 — THE LEASING FRONT
The next tenant is already on our call sheet.
This corner is not waiting to be discovered. One mile out, the trade area spends $138.9M a year on food and drink away from home and indexes 132 for nightlife demand. Nothing is under construction behind it. We go straight to the principals of LA-born operators already in expansion, license and kitchen in hand. Caliber sets the rent.
MORNING COFFEE TO LAST CALL
Overlapping trade windows. No dark hours on the corner.
Strategy written. Hospitality groups queued. Ready on day one.
09 — THE SIGNAGE ENGINE
Frontage with additional income potential.
Ownership has engaged Orange Barrel Media to replace the existing static Clear Channel faces with two 1,000 SF, 16:9 digital displays. Drag the handle to see the corner change.
SIGN A · N CAHUENGA BLVD & SELMA AVE · NORTHBOUND · 42′-2″ W × 23′-8″ H · 1,000 SF · 16:9 · RENDERINGS: ORANGE BARREL MEDIA
10 — SPEED TO MARKET
The building creates the requirement.
Ready to market and operate on day one, with the move-in ready, fully permitted St Felix space plus EaCa Alley. It can take years to permit and build restaurant and nightclub space, at high cost and with many unknowns. This property eliminates costly permitting, construction risk, and years of uncertainty, allowing immediate speed to market at a time when the surrounding neighborhood is accelerating.
Hollywood already draws an audience of more than 100 million visitors a year, with major world events, including the Super Bowl and the Olympics, coming soon. The event and experiential business is expected to be a $2.5 trillion industry by 2035, as Gen Z seeks more real-life experiences with the growth of AI and the desire to get offline.
Cahuenga at Selma is ready for all of it, and this team is uniquely positioned to meet the moment.
11 — THE GAMES PRACTICE
Every requirement for major world events in Los Angeles crosses this desk first.
Team Hollywood leads CBRE's hospitality and venue practice for major world events in Los Angeles, serving as exclusive advisor to the County of Los Angeles on the marketing of its 101-venue portfolio ahead of the 2028 Games and Super Bowl LXI.
Government delegations, national hospitality groups, sponsors, and brands seeking activation space in Los Angeles come through this desk first — before a requirement ever reaches the open market.
The implication for ownership is direct: the team marketing this corner sees every major-event requirement in Los Angeles before anyone else. Cahuenga at Selma's turnkey F&B space and Olympics Alley sit directly in that deal flow.
12 — WHY THIS TEAM?
The new way of brokerage.
This team runs a different process: not business as usual with a passive listing on LoopNet, a PDF brochure, and waiting for the phone to ring. In addition to having the highest market share of any team or brokerage in Hollywood, this team is future-proof. We build proprietary software and purpose-built landing pages used proactively for outreach, including social media, along with the oldest tool in the business: we pick up the phone.
PROACTIVE OUTREACH
Every qualified buyer and hospitality or F&B operator gets a direct call and a tour invitation. Our existing relationships and reputation are put to work to create better results and the highest value for our clients.
LEAD FLOW FROM MARKET SHARE
The largest market share in Hollywood routes every inquiry on every listing through this team, and into this campaign. Nobody knows this market better.
CUSTOM MARKETING
A campaign built for this asset alone: microsite, provenance film, signage program, editorial print.
FULL-PLATFORM UNDERWRITING
Valuation, cost segregation, and debt advisory produced in-house at CBRE.
THE PROOF
THE MICROSITE STANDARD
1748–1750 N Vermont, Los Feliz: a bespoke microsite built in-house for a single asset. Every listing gets this treatment.
AS COVERED IN THE PRESS
Miramax is Relocating its HQ to WeHo
16,000 SF headquarters lease at The Lot at Formosa. CIM Group represented by Nicole Mihalka.
JANUARY 2025
DEALS THAT MAKE HEADLINES
Institutional landlords like CIM Group trust this team with their most visible assets, and the deals make headlines.
TEAM HOLLYWOOD
Leading market share for over 20 years, with 5 million+ SF of properties leased and sold in Hollywood and West Hollywood alone. We eat, breathe, and sleep this market: in the restaurants, in the streets, alongside contacts who share the team's investment in the neighborhood.
The addition of Cristian Goodson brings a boutique hospitality approach to Team Hollywood, a working radar for what gains momentum next, and a modern, tech-driven approach to destination marketing and prospecting.
Together, we market places, not just buildings. And that's exactly what this assignment requires.
Nicole Mihalka
SENIOR VICE PRESIDENT · CBRE · LIC. 01322414
- ◆25-year market leader; 5M+ SF leased and sold in Hollywood and West Hollywood in the past decade.
- ◆Closed the historic Henson studio lot at $44M in December 2024, roughly 10% above a previously negotiated price.
- ◆Relationships: Netflix, Sony, Disney, Paramount, NBCUniversal · CIM, Gaw, Kilroy, Clarion, Lincoln. Past Chair, Hollywood Chamber; MC of the Walk of Fame.
Cristian Goodson
SENIOR ASSOCIATE · CBRE · LIC. 01982883
- ◆173+ transactions executed globally and across LA's premier high streets.
- ◆Advises private families and ownership groups on retail and mixed-use holdings: CIM Group, The Kroenke Group, Riboli Family Wines, SR Watt Company, Lincoln Properties, Rockwood Capital, and Adept.
- ◆Underwrites experience-driven, F&B-anchored real estate; creative-class network spanning Michelin-star chefs, global fashion houses, and institutions like Musso & Frank, 1933 Group, and The Dresden.
- ◆Builds the marketing in-house: bespoke microsites, provenance reels, and proprietary intelligence tools.
Nicole Mihalka
SENIOR VICE PRESIDENT · CBRE · LIC. 01322414