West LA Retail
For Sale
Contact for pricing
10931 W Pico Blvd, Los Angeles, CA 90064
Multi-tenant retail building near future UCLA Research Center.
Property Size6,000 SF
Price / SF$491.67
Days on Market178
Property Features for 10931 W Pico Blvd
General Information
Standard status
Active
Size
6,000 SF
Class
C
Property subtype
Retail
Zoning
C2
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$158,170
Building Details
Year Built
1948
Buildings
1
Stories
1
Listing Agency:
Coldwell Banker Realty Commercial
(949) 385-8900
Listed By:
Nicholas Borrelli · License #CA 01481673
Source:
Crexi
Added: Feb 19
Changed: Aug 11
Last Checked: Aug 14 at 9:45AM
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 Coldwell Banker Realty Commercial
Investment Insights
Based on property information with market context.
This multi-tenant retail building, encompassing approximately 6,000 square feet, is strategically located along a heavily trafficked corridor in West Los Angeles. The property features floor-to-ceiling storefront windows and benefits from high street visibility, with over 49,000 vehicles passing by daily. Positioned just 300 feet from the upcoming UCLA Research Center, scheduled to open in Fall 2026, the building is situated within a dynamic medical and tech corridor. The surrounding neighborhood is experiencing demographic and economic changes due to UCLA’s expansion and the increasing presence of West LA’s Silicon Beach tech environment. This location presents an opportunity to reposition the asset to attract tenants catering to professionals, researchers, and innovators. The building's architectural lines, prominent frontage, and proximity to institutional investment offer potential in a desirable submarket.
Key Highlights
- Prime location just 300 feet from the future UCLA Research Center (opening Fall 2026) in a rapidly developing medical/tech corridor.
- High visibility with floor‑to‑ceiling storefront windows and heavy traffic (49,000+ vehicles daily).
- Significant upside potential to attract premium tenants due to demographic and economic transition.
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
$139,243
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
4.72%
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%
$2,784,860
$2.8M
Cap Rate 7%
$1,989,186
$2.0M
Cap Rate 9%
$1,547,144
$1.5M
Market Conditions
NOI Build-Up for 6,000 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
$221.8K $36.96/SF
− Vacancy
−$22.8K −$3.81/SF
EGI
$198.9K $33.15/SF
− OpEx
−$59.7K −$9.95/SF
NOI
$139.2K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /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%
$2,784,860
Cap Rate 7%
$1,989,186
Cap Rate 9%
$1,547,144
Alternative Uses
Best Use
Retail
$1.99M
$1.74M – $2.32M
NOI $139,243 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$121.56M
$106.36M – $141.82M
NOI $8,508,948 @ 7.0% cap · market cap 288.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 90064, CA
27,553
Population
12,897
Households
2.1
Avg Household Size
40
Median Age
71%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
7,447
Density / Sq Mi
$129,703
Median Household Income
$84,766
Median Earnings
$2,710
Median Rent
$1,746,800
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant retail building near future UCLA Research Center.
Where is this retail space located?
The property is located at 10931 W Pico Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Prime location just 300 feet from the future UCLA Research Center (opening Fall 2026) in a rapidly developing medical/tech corridor.; High visibility with floor‑to‑ceiling storefront windows and heavy traffic (49,000+ vehicles daily).; Significant upside potential to attract premium tenants due to demographic and economic transition.
