For Sale
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10939 Venice Blvd., Los Angeles, CA 90034
Bars & Pubs
Property Size2,202 SF
Price / SF$801.54
Days on Market129
Property Features for 10939 Venice Blvd.
General Information
Standard status
Active
Size
2,202 SF
Total Parking Spaces
6
Property subtype
Retail
Zoning
C2
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$108,051
Financials
Cap Rate
5%
Business Included
Yes
Building Details
Year Built
1955
Stories
2
Tenancy
Single
Listing Agency:
Partners CRE
Listed By:
Shaya Braverman · License #CA 01861842
Source:
Crexi
Added: Apr 29
Changed: Aug 22
Last Checked: Sep 1 at 11:05PM
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 Partners CRE
Investment Insights
Based on property information with market context.
Key Highlights
- Two‑story commercial property built in 1955 with approximately 2,202 rentable SF
- Ground‑floor world‑famous bar plus dedicated office space above
- Currently offered at a 5% CAP rate with a stable, long‑term tenant
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
$59,636
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
3.38%
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%
$1,192,720
$1.2M
Cap Rate 7%
$851,943
$851.9K
Cap Rate 9%
$662,622
$662.6K
Market Conditions
NOI Build-Up for 2,202 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
$81.4K $36.96/SF
− Vacancy
−$1.9K −$0.85/SF
EGI
$79.5K $36.11/SF
− OpEx
−$19.9K −$9.03/SF
NOI
$59.6K $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 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%
$1,192,720
Cap Rate 7%
$851,943
Cap Rate 9%
$662,622
Alternative Uses
Best Use
Specialty Retail
$851.9K
$745.5K – $993.9K
NOI $59,636 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$44.61M
$39.03M – $52.05M
NOI $3,122,784 @ 7.0% cap · market cap 176.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,730
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90034, CA
57,152
Population
29,262
Households
2
Avg Household Size
35
Median Age
64%
College-Educated
92%
High-School Grad
3.1 sq mi
ZIP Area
18,436
Density / Sq Mi
$103,082
Median Household Income
$62,891
Median Earnings
$2,180
Median Rent
$1,395,000
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
Where is this bar & pub located?
The property is located at 10939 Venice Blvd. Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,765,000.
What are key features of this property?
This property features: Two‑story commercial property built in 1955 with approximately 2,202 rentable SF; Ground‑floor world‑famous bar plus dedicated office space above; Currently offered at a 5% CAP rate with a stable, long‑term tenant
