Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    420 E 3Rd St Los Angeles, CA 90013

    Sponsored
    For Lease
    Contact for pricing

    Commercial Lease - Los Angeles, CA

    Property size:
    8,688 SF
    Days on Market:
    200
    Last Refresh:
    Feb 13 at 2:06 pm

    Property Features for 420 E 3Rd St

    General Information

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

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Architectural style
    Other

    We can help!

    Listing Contact
    Paola Melendez

    Century 21 Allstars (562) 205-3504

    Listing agent Paola Melendez (562) 863-2121 License #01779654

    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.

    Learn more

    Property Insight Report

    Overview

    Prime Medical/Office Space in Downtown

    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

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Skin Care Clinic Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    Little Tokyo Pet Clinic, Grand Park Animal Hospital, DTLAvets - Wellness and Urgent Care Services, Green Abernathy and Moore

    Location Insight

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

    Nearby Similar for Lease

    • $4,512 /Mo
      2,139 SF

      Modern Office Space in San Pedro

      Modern office space for lease in the heart of San Pedro.
      858 W 9Th St, San Pedro, CA 90731
      View Details
    • Contact for pricing
      22,000 SF

      Creative Flex Space in Hollywood

      Reimagined creative flex space in the heart of Hollywood.
      5176 Santa Monica Blvd, Los Angeles, CA 90029
      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
    • $8,750 /Mo
      1,634 SF

      Venice Creative Office/Live-Work Space

      Unique live/work space in vibrant Venice Beach near Abbot Kinney.
      215 Windward Ave, Venice, CA 90291
      View Details
    • Contact for pricing
      24,300 SF

      Reimagined Creative Flex Space

      Modernized creative flex space in a historic landmark building.
      941 E 2Nd St, Los Angeles, CA 90012
      View Details
    • $5,300 /Mo
      5,227 SF

      Versatile Mixed-Use Space in Los Angeles

      Mixed-use space ideal for various businesses in a dynamic location.
      1201 West Temple St, Los Angeles, CA 90026
      View Details
    • $2,100 /Mo

      Tujunga Office Space For Lease

      Office suites available in well-maintained Tujunga building.
      6708 Foothill Blvd, Tujunga, CA 91042
      View Details
    • Contact for pricing
      10,000 SF

      Historic Office Building in Los Angeles

      Charming Spanish-style office building near Beverly Hills and Culver City.
      1436 S La Cienega Blvd, Los Angeles, CA 90035
      View Details
    • Contact for pricing
      5,683 SF

      Historic Los Angeles Religious Facility

      Historic religious facility suitable for redevelopment or educational purposes.
      1101 W Florence Ave, Los Angeles, CA 90044
      View Details
    • $3,500 /Mo
      1,480 SF

      Pacoima Mixed-Use Property For Lease

      Versatile 1480 sq ft mixed-use property in prime Pacoima location.
      10615 San Fernando Rd, Pacoima, CA 91331
      View Details
    • $7,200 /Mo
      2,627 SF

      Remodeled Office Space Sublease

      Remodeled office suite in iconic Woodland Hills Class A complex.
      6300 Canoga Ave 590, Woodland Hills, CA 91367
      View Details
    • $3,950 /Mo
      1,200 SF

      Los Angeles Warehouse with Gated Parking

      Turn-key warehouse with gated parking near downtown Los Angeles.
      3242 Fowler St, Los Angeles, CA 90063
      View Details

    FAQs

    What type of property is this?
    Medical office - 8,688 SF medical/office space for lease in Little Tokyo.
    Where is this medical office located?
    The property is located at 420 E 3Rd St 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
    Request Owner's contact information
    420 E 3Rd St Los Angeles, CA 90013
    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.
    420 E 3Rd St
    Los Angeles, CA 90013
    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
    420 E 3Rd St Los Angeles, CA 90013
    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

    We can help!
    Listing Contact
    Paola Melendez
    Real Estate License ID: 01779654
    (562) 225-4802 (562) 863-2121
    Learn more
    Google sign-in failed. Please try again or use another login method.