Corner Retail and Office
For Sale
$3,850,000
947 Manhattan Beach Blvd, Manhattan Beach, CA 90266
SINGLE_FAMILY - Manhattan Beach, CA
Property Size8,753 SF
Price / SF$439.85
Days on Market218
Property Features for 947 Manhattan Beach Blvd
General Information
Property type
Residential
Property subtype
Office
Zoning
MNCL
Directions
Corner of Manhattan Beach Blvd. and Pine three blocks West of Sepulveda
Subdivision
143 - Manhattan Bch Tree
Standard status
Active
APN
4170010017
Building Details
Year built
1967
Listing Agency:
Beach City Brokers
(310) 543-3536
Listed By:
Jonathan Coleman · License #00808758
(310) 991-0929
Added: Jan 4
Changed: Jul 6
Last Checked: Aug 10 at 7:06AM
MLS# SB26000572
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.
Commercially zoned corner development site in Manhattan Beach that currently consists of five units combining retail and office space, with long-term tenants. The property includes two one-story buildings positioned on opposite sides of a central garden courtyard, along with a rear 13-car parking lot.
The site provides frontage on Manhattan Beach Blvd with two front lots at the corner, plus a third lot off Pine Ave that runs behind the buildings and fronts the larger parking area. The listing also notes an overlay district that permits residential development, with potential redevelopment options to be verified by the buyer and subject to City of Manhattan Beach approval.
The property is identified as 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave. Subject to buyer verification and City approvals; do not walk the property or disturb the tenants.
The site provides frontage on Manhattan Beach Blvd with two front lots at the corner, plus a third lot off Pine Ave that runs behind the buildings and fronts the larger parking area. The listing also notes an overlay district that permits residential development, with potential redevelopment options to be verified by the buyer and subject to City of Manhattan Beach approval.
The property is identified as 943 & 947 Manhattan Beach Blvd. and 1137 Pine Ave. Subject to buyer verification and City approvals; do not walk the property or disturb the tenants.
Key Highlights
- Triple corner commercial site in Manhattan Beach totaling 8,753 SF with ~79 ft frontage and ~107 ft depth
- Includes two one‑story buildings flanking a central garden courtyard plus a rear 13‑car parking lot
- Current setup: 5 long‑term tenant units in combined 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
Location Intelligence
Trade Area within ½ mile
2,091
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Multi-unit retail and office site with two one-story buildings, courtyard, and rear parking in Manhattan Beach.
Where is this office units located?
The property is located at 947 Manhattan Beach Blvd 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 commercial site in Manhattan Beach totaling 8,753 SF with ~79 ft frontage and ~107 ft depth; Includes two one‑story buildings flanking a central garden courtyard plus a rear 13‑car parking lot; Current setup: 5 long‑term tenant units in combined retail and office space
