Corner Redevelopment Retail Office
For Sale
$3,850,000
947 Manhattan Beach, Manhattan Beach, CA 90266
LAND - Manhattan Beach, CA
Property Size8,753 SF
Lot Size0.20 Acres
Price / SF$439.85
Days on Market205
Property Features for 947 Manhattan Beach
General Information
Property type
Land
Property subtype
Other
Zoning
MNCL
Lot features
Corner Lot
Directions
3 Blocks West Of Sepulved mon the corner of M.B. Blvd. & Pine Ave.
Subdivision
143 - Manhattan Bch Tree
Standard status
Active
APN
4170010017
Lot size
0.20 Acres
Utilities
Utilities
Phone Available
Water source
Public
Listing Agency:
Beach City Brokers
(310) 543-3536
Listed By:
Jonathan Coleman · License #00808758
(310) 991-0929
Added: Jan 17
Changed: Jul 21
Last Checked: Aug 10 at 7:06AM
MLS# SB26012312
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.
Investment Insights
Based on property information with market context.
This for-sale redevelopment site consists of five existing units with long-term tenants, in a mix of retail and office space. Two one-story buildings sit on either side of a central garden courtyard, with a 13-car parking lot located to the rear. The property includes two lots fronting Manhattan Beach Boulevard and a third lot off Pine Avenue that runs behind the buildings, all within a commercially zoned environment.
The City of Manhattan Beach overlay district permits residential development, creating multiple redevelopment pathways subject to buyer verification and City approval. The public remarks describe a potential configuration involving a single-family residence on the rear Pine Avenue lot and townhomes on the two Manhattan Beach Boulevard front lots, as well as the possibility that parcels could support a higher-density condominium project if merged, based on city guidelines cited in the listing. Additional alternatives mentioned include mixed-use development or continued commercial use.
The asset is identified as 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave, and includes approximately 79 feet of frontage with about 107 feet of depth, totaling 8,753 square feet. Please do not walk the property or disturb tenants.
The City of Manhattan Beach overlay district permits residential development, creating multiple redevelopment pathways subject to buyer verification and City approval. The public remarks describe a potential configuration involving a single-family residence on the rear Pine Avenue lot and townhomes on the two Manhattan Beach Boulevard front lots, as well as the possibility that parcels could support a higher-density condominium project if merged, based on city guidelines cited in the listing. Additional alternatives mentioned include mixed-use development or continued commercial use.
The asset is identified as 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave, and includes approximately 79 feet of frontage with about 107 feet of depth, totaling 8,753 square feet. Please do not walk the property or disturb tenants.
Key Highlights
- Triple corner development site in Manhattan Beach totaling 8,753 sq. ft., with approx. 79 ft frontage and 107 ft depth
- Includes two one‑story buildings around a central garden courtyard, plus a 13‑car parking lot at the rear
- Currently 5 units with long‑term tenants in a mix of retail and office space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$193,657
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,873,140
$3.9M
Cap Rate 7%
$2,766,529
$2.8M
Cap Rate 9%
$2,151,744
$2.2M
Market Conditions
NOI Build-Up for 8,753 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$296.2K $33.84/SF
− Vacancy
−$19.5K −$2.23/SF
EGI
$276.7K $31.61/SF
− OpEx
−$83.0K −$9.48/SF
NOI
$193.7K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,873,140
Cap Rate 7%
$2,766,529
Cap Rate 9%
$2,151,744
Alternative Uses
Best Use
Retail
$2.77M
$2.42M – $3.23M
NOI $193,657 @ 7.0% cap · market cap 5.03%
Second Best
Office B
$2.73M
$2.39M – $3.19M
NOI $191,334 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $328,043 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 90266, CA
35,506
Population
14,945
Households
2.4
Avg Household Size
43
Median Age
79%
College-Educated
99%
High-School Grad
4.0 sq mi
ZIP Area
8,877
Density / Sq Mi
$193,904
Median Household Income
$114,154
Median Earnings
$3,492
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Redevelopment parcel with five long-term tenant units, including retail and office, plus rear parking in Manhattan Beach.
Where is this office units located?
The property is located at 947 Manhattan Beach Manhattan Beach, CA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Triple corner development site in Manhattan Beach totaling 8,753 sq. ft., with approx. 79 ft frontage and 107 ft depth; Includes two one‑story buildings around a central garden courtyard, plus a 13‑car parking lot at the rear; Currently 5 units with long‑term tenants in a mix of retail and office space
