Chef Kris Yenbamroong last year announced plans to take over the former Siam Best restaurant on Lincoln near Washington Boulevard.

Chef Kris Yenbamroong last year announced plans to take over the former Siam Best restaurant on Lincoln near Washington Boulevard.

Many Angelenos see Lincoln Boulevard in Venice as a road to the airport – one lined with a hodgepodge of small businesses ranging from auto repair shops to liquor stores.

Chef Kris Yenbamroong saw it as a destination for the next outpost of his Thai restaurant Night + Market, and last year announced plans to take over the former Siam Best restaurant on Lincoln near Washington Boulevard.

This month, he and his father, Prakas Yenbamroong, purchased a lot and small office next door for $2.2 million and plan to use it as a parking lot and office, which sit on 6,221 square feet. Viewed as a land site, the deal value translated to $346 square foot.

The office is 1,611 square feet and leased until next year to a used-car dealership.

Laura Alice Scaturro, an associate at Marcus & Millichap who represented both the seller, Carolyn Kegarice, and the Yenbamroongs, said the lot will give Night + Market a much needed parking lot – and represents their long-term commitment to Lincoln, which is beginning to attract business spilling over from Abbott Kinney Boulevard and Rose Avenue.

While monthly retail rents on Lincoln range from $3.50 to $7 a square foot, rates on Abbott Kinney can run $15 to $20, Scaturro said. In a sign of Abbott Kinney’s rise in prominence, shoemaker Adidas is set to take over the former Hal’s Bar & Grill space.

“There are no independents opening anymore on Abbott Kinney,” Scaturro said. “Where do those independents go? Lincoln is a great place for them.”

A Night + Market representative declined to comment and said the restaurant’s opening date has not yet been set. The restaurant company has two other locations in decidedly swankier areas – the Sunset Strip in West Hollywood and on Sunset Boulevard in Silver Lake.

Kegarice tried to sell the Lincoln property in 2014, but a deal never clicked as several development projects in the area seemed to stall.

Real estate reporter Daina Beth Solomon can be reached at dsolomon@labusinessjournal.com. Follow her on Twitter @dainabethcita for the latest in L.A. commercial real estate news.