Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Medical/Office Space in Downtown Title is generated by Realmo AI

    420 E 3rd Street, Los Angeles, CA 90013

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Commercial Lease - Los Angeles, CA

    Property size:
    8,688 SF
    Added:
    Jul 29, 2025
    Days on Market:
    292
    Last Refresh:
    May 16 at 10:06 pm

    Property Features for 420 E 3rd Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Interior features
    Elevators
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    5147006011
    Size
    8,688 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Architectural style
    Other

    We can help!

    Listing Contact
    Paola Melendez

    Listing agent Paola Melendez License #01779654

    Listing office Century 21 Allstars 9155 Telegraph Rd, Pico Rivera, CA

    Listing date Jul 29, 2025

    MLS# DW25161082 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

    • Prime location in the heart of Little Tokyo, Downtown Los Angeles, offering high visibility and foot traffic.
    • Approx. 8,688 RSF of flexible space that can be leased together or separately to suit business needs.
    • Ideal for medical, wellness, or general office use, catering to a wide range of professional operations.
    • Prestigious and secure building environment designed for client comfort and safety.
    • On‑site amenities including banking, a full‑service café\/coffee station, and a pharmacy\/sundry shop.
    • Excellent accessibility with elevators and accessible elevator installed.

    Overview

    Located in the heart of Little Tokyo in Downtown Los Angeles, this commercial space at 10 Terraces offers a prominent address suitable for medical, wellness, or general office operations. The available space totals approximately 8,688 square feet and can be leased as a whole or divided into two units. Unit 602 offers between 800 and 1,000 square feet, while Unit 603 provides approximately 7,000 to 8,000 square feet. The building provides on-site banking, a full-service café and coffee station, and a pharmacy and sundry shop, which is particularly convenient for medical and wellness businesses. The location offers excellent accessibility and foot traffic within a busy Downtown Los Angeles corridor. The building is secure, well-maintained, and designed to provide a professional setting for client comfort and safety. This space offers a high-visibility location with essential amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bishop Pacific Partners Construction Company Lifetime Dental of Downtown ... Dental Office Dr. Albert I. ... Physician Ikeda Keiko PhD Physician Concentra Urgent Care Medical Clinic

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Similar Places Nearby

    • Little Tokyo Pet Clinic — 236 S Los Angeles St suite h, Los Angeles, CA 90012
    • Grand Park Animal Hospital — 333 S Alameda St Ste 222, Los Angeles, CA 90013
    • DTLAvets - Wellness and Urgent Care Services — 333 S Spring St, Los Angeles, CA 90013
    • Green Abernathy and Moore — 433 S Spring St # 10, Los Angeles, CA 90013

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2418184
    Latitude
    34.0468639

    Nearby Similar for Lease

    • $3,200/Mo

      Versatile Mixed-Use Space in Los Angeles

      1,056 sq ft mixed-use property in a vibrant location.
      1641 South Longwood Ave, Los Angeles, CA 90019
      View Details
    • $7 SF/Yr
      800 SF

      Koreatown Retail Space For Lease

      Prime retail spaces in luxury mixed-use Koreatown development.
      750 S Oxford, Los Angeles, CA 90005
      View Details
    • $3,000/Mo
      1,540 SF

      Retail Units in Los Angeles

      Six retail units available for lease in Los Angeles.
      1212 S San Pedro, Los Angeles, CA 90015
      View Details
    • $6,000/Mo

      Melrose Avenue Storefront with Income Potential

      Bright, versatile two-story storefront on iconic Melrose Avenue.
      7552 Melrose Ave, Los Angeles, CA 90046
      View Details
    • $1,625/Mo
      970 SF

      Los Angeles Commercial Space Available

      Retail, office, showroom, or warehouse space in fashion district.
      1458 San Pedro, Los Angeles, CA 90015
      View Details
    • $1.95 SF/Yr
      12,126 SF

      Koreatown Retail/Medical Office Space

      High-traffic corner location ideal for retail or medical office.
      991 S Vermont, Los Angeles, CA 90006
      View Details
    • $3,500/Mo
      2,150 SF

      Commercial Space in Los Angeles

      Versatile space suitable for office, retail, or warehouse use.
      3136 E Olympic Boulevard, Los Angeles, CA 90023
      View Details
    • Contact for pricing
      6,536 SF

      Downtown LA Office Suite

      Spacious 6,536 SF office suite in Little Tokyo.
      420 E 3rd, Los Angeles, CA 90013
      View Details
    • $750/Mo
      378 SF

      Office Space in Los Angeles

      Office space for lease in Los Angeles, approximately 378 sq.ft.
      844 Colorado, Los Angeles, CA 90041
      View Details
    • $2,800/Mo
      2,000 SF

      Commercial Space in Los Angeles

      Versatile commercial space suitable for various business ventures.
      5414 Alhambra Avenue, Los Angeles, CA 90032
      View Details
    • $18,856/Mo
      12,036 SF

      Functional Warehouse with Office Space

      Secure Los Angeles warehouse with office, ample parking, and freeway access.
      215 W 134th St, Los Angeles, CA 90061
      View Details
    • Sponsored
      Contact for pricing

      CA, Los Angeles - W Olympic Blvd

      11845 Olympic Blvd, Los Angeles, CA 90064
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 8,688 SF medical/office space for lease in Little Tokyo.
    Where is this medical office space located?
    The property is located at 420 E 3rd Street Los Angeles, CA.
    What are key features of this property?
    This property features: Prime location in the heart of Little Tokyo, Downtown Los Angeles, offering high visibility and foot traffic.; Approx. 8,688 RSF of flexible space that can be leased together or separately to suit business needs.; Ideal for medical, wellness, or general office use, catering to a wide range of professional operations.
    (562) 225-4802
    We can help!
    Listing Contact
    Paola Melendez
    Real Estate License ID: 01779654
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    420 E 3rd Street, Los Angeles, CA 90013
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!