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    165 Palos Verdes Blvd Redondo Beach, CA 90277

    View on Map
    Sponsored
    For Sale
    $2,695,000

    Commercial Sale - Redondo Beach, CA

    Property size:
    2,500 SF
    Days on Market:
    139
    Last Refresh:
    Mar 10 at 5:06 pm

    Property Features for 165 Palos Verdes Blvd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    7511013014
    Size
    2,500 SF

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1964
    Architectural style
    Other

    We can help!

    Listing Contact
    George Takis

    West Shores Realty (310) 541-8000

    Listing agent George Takis (310) 541-8000 License #01126091

    Listing date Oct 23, 2025

    MLS# SB25246303 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Iconic Riviera Village Landmark Building

    This iconic Riviera Village landmark building, known as "The Pillbox Pharmacy", offers a rare opportunity for an owner-user or redevelopment project. It occupies a prominent location on the northwest corner of Via Valencia and Palos Verdes Boulevard, standing alone on a street-to-alley corner lot with an unobstructed view overlooking Riviera Village and the Palos Verdes Peninsula. The existing two-story structure features an upstairs and downstairs. The downstairs will be vacant by the end of October 2025. The upstairs is currently leased to a church for its office. A corner suite upstairs, separate from the church office, includes a private entrance and balcony. The second floor provides clear space with two restrooms, a breakroom/kitchenette, and a private entrance. The downstairs area features an open space with two entrances (front and back), a restroom, and office space. The property has a size of 2500 square feet and is located in Redondo Beach, CA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    health mart Pharmacy Amazon Counter - Health ... Postal Service Pill Box Drug Pharmacy

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    health mart, Ralphs Pharmacy, Suhee Kim, PharmD, Pill Box Drug, Bodyology Sculpting

    Location Insight

    • Map
    • Local Demand
    City
    Redondo Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.385178
    Latitude
    33.8171957

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    FAQs

    What type of property is this?
    Drug store - Rare opportunity in Redondo Beach's Riviera Village.
    Where is this drug store located?
    The property is located at 165 Palos Verdes Blvd Redondo Beach, CA.
    What is the asking price?
    The asking price for this property is $2,695,000.
    What are key features of this property?
    This property features: - Iconic Riviera Village Landmark Building: A rare and recognizable property in a desirable location.; - Prominent Corner Location: Situated on a highly visible corner lot with unobstructed views.; - Redevelopment Opportunity: Presents a fantastic opportunity for redevelopment or owner-user.
    (310) 698-2568
    Request Owner's contact information
    165 Palos Verdes Blvd Redondo Beach, CA 90277
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    Redondo Beach, CA 90277
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    165 Palos Verdes Blvd Redondo Beach, CA 90277
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    We can help!
    Listing Contact
    George Takis
    Real Estate License ID: 01126091
    (310) 698-2568 (310) 541-8000 (310) 544-6100
    Learn more
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