Fully Operating First-Floor
For Sale
Contact for pricing
1010-1014 S San Pedro St, Los Angeles, CA 90015
Fully operating restaurant on the first floor in a local landmark building.
Property Size5,184 SF
Price / SF$770.64
Days on Market779
Property Features for 1010-1014 S San Pedro St
General Information
Standard status
Active
Size
5,184 SF
Property subtype
RETAIL
Site & Location
Neighborhood
Downtown
Additional Details
Floor
1
Business Included
Yes
Listing Agency:
Lee & Associates
(323) 922-3832
Listed By:
Sehyung Kim · License #01327276
(213) 290-3599
Source:
Moodyscre
Added: Sep 12, 2024
Changed: Oct 26
Last Checked: Oct 28 at 8:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Fully operating restaurant located on the first floor of a local landmark building. The property is described as first time on the market for sale in over 50 years.
Public remarks note that Paul’s Kitchen has been continuously in operation since 1946 and is also for sale. The building sits directly across the street from a city market development project.
With 5,184 square feet of property size, this offering may appeal to operators seeking an established restaurant presence with an existing, operating layout on the first floor.
Public remarks note that Paul’s Kitchen has been continuously in operation since 1946 and is also for sale. The building sits directly across the street from a city market development project.
With 5,184 square feet of property size, this offering may appeal to operators seeking an established restaurant presence with an existing, operating layout on the first floor.
Key Highlights
- 5,184 square feet landmark restaurant building
- Fully operating restaurant on the first floor
- Paul’s Kitchen continuously in operation since 1946
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,395
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,807,900
$2.8M
Cap Rate 7%
$2,005,643
$2.0M
Cap Rate 9%
$1,559,944
$1.6M
Market Conditions
NOI Build-Up for 5,184 SF
Gross rent
$191.6K $36.96/SF
− Vacancy
−$4.4K −$0.85/SF
EGI
$187.2K $36.11/SF
− OpEx
−$46.8K −$9.03/SF
NOI
$140.4K $27.08/SF
Area
Los Angeles, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,807,900
Cap Rate 7%
$2,005,643
Cap Rate 9%
$1,559,944
Alternative Uses
Best Use
Specialty Retail
$2.01M
$1.75M – $2.34M
NOI $140,395 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$105.02M
$91.90M – $122.53M
NOI $7,351,731 @ 7.0% cap · market cap 184.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12,676
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90015, CA
27,324
Population
14,635
Households
1.9
Avg Household Size
34
Median Age
48%
College-Educated
79%
High-School Grad
1.7 sq mi
ZIP Area
16,073
Density / Sq Mi
$63,211
Median Household Income
$47,819
Median Earnings
$2,385
Median Rent
$1,000,800
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully operating restaurant on the first floor in a local landmark building.
Where is this conventional restaurant located?
The property is located at 1010-1014 S San Pedro St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 5,184 square feet landmark restaurant building; Fully operating restaurant on the first floor; Paul’s Kitchen continuously in operation since 1946
