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    Retail Storefront in Sherman Corridor Title is generated by Realmo AI

    21627 Sherman Way, Canoga Park, CA 91303

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    Claim this Listing
    For Sale
    $948,800

    Commercial Sale - Canoga Park, CA

    Property size:
    1,500 SF
    Price / SF:
    $632/SF
    Added:
    Feb 20, 2026
    Days on Market:
    91
    Last Refresh:
    May 22 at 11:06 pm

    Property Features for 21627 Sherman Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    2111019002
    Size
    1,500 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1941
    Architectural style
    Other

    We can help!

    Listing Contact
    Jesse James Johnston

    Listing agent Jesse James Johnston License #01732745

    Listing office Rodeo Realty 12345 Ventura Blvd., Beverly Hills, CA

    Listing date Feb 20, 2026

    MLS# SR26038354 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.

    HighLights

    • Rare owner‑user opportunity in the Sherman Corridor of Downtown Canoga Park.
    • Designated IRS Opportunity Zone and local JEDI Zone with small business incentives (loans up to $50,000).
    • Suitable for SBA 504 financing with low down payment (~10%) and long‑term fixed‑rate options.
    • Recent capital improvements: New Roof (2022), New HVAC (2022), Updated Electrical & Plumbing (2020).
    • ±1,500 SF Retail Storefront suitable for various businesses.
    • Four (4) on‑site parking spaces and fully fenced lot with security gate.

    Overview

    Located in the Sherman Corridor (Canoga Park Parts District) of Downtown Canoga Park, this retail storefront offers an owner-user opportunity. The property features approximately 1,500 square feet of space in a high traffic-visibility neighborhood commercial corridor. Currently operating as a barber shop, the property is suited for a salon, medical office, boutique, Yoga/workout studio, café or comedy club. Recent capital improvements include a new roof installed in 2022 and a new HVAC system installed in 2022. Updated electrical and plumbing were completed in 2020. Additional features include a tankless water heater, polished concrete floors, exposed brick, and custom woodwork. The property has four on-site parking spaces and a fully fenced lot with a front roll-down security gate. An ADA-compliant access ramp is also present. The property is located in an IRS Opportunity Zone and within the local JEDI Zone, potentially allowing for small business incentives, including accessible loans up to $50,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • canoga park florist — 7144 Owensmouth Ave, Canoga Park, CA 91303
    • Paradise Flowers & Design — 6901 Topanga Canyon Blvd UNIT A, Canoga Park, CA 91303
    • Nature Creation — 7240 Eton Ave, Canoga Park, CA 91303
    • Buds 'N Blossoms — 7144 Owensmouth Ave, Canoga Park, CA 91303
    • La Fleur Bouquets — 6600 ca-27, canoga park, ca 91303

    Location Insight

    • Map
    • Local Demand
    City
    Canoga Park
    County
    Los Angeles
    State
    California
    Longitude
    -118.601225
    Latitude
    34.201231

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    FAQs

    What type of property is this?
    Storefront property - 1,500 SF retail storefront in Canoga Park for sale.
    Where is this storefront property located?
    The property is located at 21627 Sherman Way Canoga Park, CA.
    What is the asking price?
    The asking price for this property is $948,800.
    What are key features of this property?
    This property features: Rare owner‑user opportunity in the Sherman Corridor of Downtown Canoga Park.; Designated IRS Opportunity Zone and local JEDI Zone with small business incentives (loans up to $50,000).; Suitable for SBA 504 financing with low down payment (~10%) and long‑term fixed‑rate options.
    (818) 326-0945
    We can help!
    Listing Contact
    Jesse James Johnston
    Real Estate License ID: 01732745
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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.

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