The Rialto Theater
The Rialto Theater, a historic 1917 single-tenant NNN investment in Downtown Los Angeles' core, is offered at $3,600,000 at a 9.52% cap rate. Urban Outfitters, the publicly traded retailer (URBN), anchors the 7,867 SF building on a 8,590 SF lot with 53.38 feet of Broadway frontage. The lease runs through January 2029 with over three years remaining, plus three 5-year extension options at 90–95% of market rate.
Built in 1911 and originally constructed as The Rialto Theater, the one-story property was added to the U.S. National Register of Historic Places in 1979. Located between 8th and 9th Streets, the asset sits on a high-traffic corridor (24,955 vehicles per day) surrounded by thousands of residential units and anchored by nearby Level Hotel, Clifton's Republic, Shake Shack, Whole Foods, and Bottega Louie. Pershing Square, Walt Disney Concert Hall, The Broad, and Little Tokyo are within walking distance.
Urban Outfitters is a diversified, multi-brand global lifestyle retailer with strong fundamentals: FY2025 revenue of $5.55 billion (up 7.7% year-over-year), trailing-12-month revenue of $5.83 billion, and net income of $402 million. The company operates six brands—Urban Outfitters, Anthropologie, Free People, Terrain, BHLDN, and Nuuly—targeting young adults worldwide. Downtown Los Angeles is poised for significant growth, hosting the 2026 World Cup, 2026 NBA All-Star Game, 2027 Super Bowl, and 2028 Olympics, with a projected $1 billion economic boost.
- Historic 1917 building on U.S. National Register of Historic Places; iconic DTLA location between 8th and 9th Streets
- Urban Outfitters (URBN) tenant: $5.55B FY2025 revenue, 7.7% growth, $402M net income
- 3+ years remaining lease with three 5-year extension options at 90–95% of market rate
- 9.52% cap rate; triple-net structure with zero landlord responsibilities
- 24,955 vehicles per day; surrounded by residential units and premium retail/dining amenities
- $375,000 price reduction from original $3,975,000 asking price
More property details
Features & amenities
Location
DTLA Historic Core single tenant NNN investment opportunity located between 8th and 9th Streets. The building was constructed in 1917 as The Rialto Theater and was added to the U.S. National Register of Historic Places in 1979. Surrounded by thousands of residential units with nearby amenities including Level Hotel, Clifton's Republic, and Shake Shack. Whole Foods, Bottega Louie, and Pershing Square are just a short walk away.
- Historic Core location between 8th and 9th Streets; Apple Tower Theater electronics store two stores to the north at corner of 8th Street and Broadway; 24,955 vehicles per day traffic count; near Level Hotel, Clifton's Republic, Shake Shack, Whole Foods, Bottega Louie, Pershing Square
Additional details
- DTLA Historic Core single tenant NNN investment opportunity
- 3+ years remaining on lease to Urban Outfitters with three 5-year extension options
- 9.52% cap rate
- Fantastic DTLA Historic Core location between 8th and 9th Streets
- Building constructed in 1917 as The Rialto Theater, added to U.S. National Register of Historic Places in 1979
- Apple Tower Theater electronics store two stores to the north at corner of 8th Street and Broadway
- Surrounded by thousands of residential units
Major player in fashion & lifestyle retail with diversified brand portfolio, private-label merchandise, and global reach; showing steady growth post-pandemic
Downtown Los Angeles transforming into Downtown Sports Park with 10 world-class Olympic venues; $1 billion economic boost projected
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Information secured from sources believed reliable; no representations or warranties as to accuracy; references to square footage and age are approximate; recipient must verify information