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    Reimagined Creative Flex Space Title is generated by Realmo AI

    941 E 2nd Street, Los Angeles, CA 90012

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    Commercial Lease - Los Angeles, CA

    Property size:
    24,300 SF
    Added:
    Jun 28, 2024
    Days on Market:
    708
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 941 E 2nd Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    5163005001
    Size
    24,300 SF

    Building Details

    Year built
    1907
    Architectural style
    Other

    We can help!

    Listing Contact
    Farshad Tehrani

    Listing agent Farshad Tehrani License #02104400

    Listing office Imperial Real Estate 1008 S. Pacific Ave., #206, Manhattan Beach, CA

    Listing date Jun 28, 2024

    MLS# SB24133025 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

    • Located in the Arts District, the safest neighborhood in DTLA, a cultural hub with art galleries, performance spaces, and outdoor murals.
    • Easy Commuting: Near Dash Bus service and several rail lines, with galleries, boutiques, shops, and restaurants within walking distance.
    • Reimagined and modernized creative flex space with abundant natural lighting and open floor plans.
    • Suitable for various creative uses.
    • Landmark project with historical significance: Originally built in 1907.
    • Located next to Little Tokyo, in the center of arts landmarks.

    Overview

    This reimagined and modernized creative flex space building, referred to as e2 Studios, offers a collection of blank canvases set against a backdrop of history and character, illuminated by abundant natural lighting. The property is located at the corner of significant historic streets in the Arts District of Downtown Los Angeles, near Dash Bus service and several rail lines. The Arts District is a cultural center featuring art galleries, performance spaces, and an outdoor mural collection, and is recognized as the safest neighborhood in DTLA. The property is within walking distance to galleries, boutiques, shops, and restaurants. The building was originally built in 1905 and has served as the home of Vignes Winery, the headquarters of Southern Pacific Railroad for freight loading, a distribution warehouse for Anheuser Busch, and Tool & Supply Bag company. The property is suitable for artists, architects, design professionals, advertising firms, showrooms, and other creative uses. The Arts District sits on the East side of Downtown Los Angeles and is known as the center of arts landmarks. The available space totals 24,300 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Guru Printers - Arts ... (Bike/Boat/Book/etc) Store Mane Fixation Hair Salon Villains Tattoo Collective Tattoo & Piercing Shop Fancy Studio (Bike/Boat/Book/etc) Store ArtWork Studios, Inc (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2337524
    Latitude
    34.0472736

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    FAQs

    What type of property is this?
    Creative space - Modernized creative flex space in a historic landmark building.
    Where is this creative space located?
    The property is located at 941 E 2nd Street Los Angeles, CA.
    What are key features of this property?
    This property features: Located in the Arts District, the safest neighborhood in DTLA, a cultural hub with art galleries, performance spaces, and outdoor murals.; Easy Commuting: Near Dash Bus service and several rail lines, with galleries, boutiques, shops, and restaurants within walking distance.; Reimagined and modernized creative flex space with abundant natural lighting and open floor plans.
    (310) 259-8111
    We can help!
    Listing Contact
    Farshad Tehrani
    Real Estate License ID: 02104400
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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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