Venice Mixed-Use Corner
For Sale
$5,750,000
110 Mildred Avenue, Los Angeles, CA 90291
Unique mixed-use property in a prime Venice location.
Property Size11,408 SF
Lot Size0.16 Acres
Price / SF$504.03
Days on Market216
Property Features for 110 Mildred Avenue
General Information
Standard status
Active
Size
11,408 SF
Lot size
0.16 Acres
Property subtype
Multi-Family
Zoning
LAR3
Site & Location
Neighborhood
Venice
Building Details
Building Size
11,408 SF
Year Built
1923
Listing Agency:
WESTMAC Commercial Brokerage Company
Listed By:
T.C. Macker · License #CA 01232033
(310) 966-4352
Source:
Commercialcafe
Added: Mar 27
Changed: Oct 26
Last Checked: Oct 28 at 5:10AM
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 WESTMAC Commercial Brokerage Company
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Investment Insights
Based on property information with market context.
Located at 110 Mildred Avenue in Venice, California, this mixed-use property offers a unique opportunity. The building encompasses approximately 11,408 square feet on a lot of approximately 6,832 square feet. Previously the Venice News building, it later served as the home and studio of artist Billy Al Bengston. The property is primarily residential with abundant storage space. Situated one block from the Venice Boardwalk and canals, the corner location at Mildred and Pacific Avenue provides excellent visibility with high car and pedestrian traffic. The area boasts a Walk Score of 96 and a Bike Score of 99. The property is also located one block east of Venice Beach, Muscle Beach, and the Venice Boardwalk, with Santa Monica to the north and Los Angeles International Airport within a 30-minute drive. The location is within walking distance of numerous restaurants, shops, and services, including Great White, Eggslut, Jeni’s Ice Creams, and Hama Sushi, near the Venice Sign, as well as Hotel Erwin, Gjusta Grocer, Mollusk Surf Shop, and Tocaya Modern Mexican. Beachside spots like Seaside Burgers and Belles Beach House are a short walk away on the Venice Beach Boardwalk. Abbot Kinney Boulevard is half a mile from the property. This property presents an opportunity to own real estate in a high-traffic area.
Key Highlights
- Prime corner location just one block from Venice Beach, Venice Boardwalk, and Muscle Beach.
- High Walk Score (96) and Bike Score (99).
- Significant square footage: ±11,408 square feet of building on ±6,832 square feet of land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,012
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,620,240
$4.6M
Cap Rate 7%
$3,300,171
$3.3M
Cap Rate 9%
$2,566,800
$2.6M
Market Conditions
NOI Build-Up for 11,408 SF
Gross rent
$410.7K $36.00/SF
− Vacancy
−$41.1K −$3.60/SF
EGI
$369.6K $32.40/SF
− OpEx
−$138.6K −$12.15/SF
NOI
$231.0K $20.25/SF
Area
Los Angeles, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,620,240
Cap Rate 7%
$3,300,171
Cap Rate 9%
$2,566,800
Alternative Uses
Best Use
Mixed Use
$3.30M
$2.89M – $3.85M
NOI $231,012 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$231.12M
$202.23M – $269.64M
NOI $16,178,346 @ 7.0% cap · market cap 281.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,934
Businesses Nearby
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Business Placement
Demographics for 90291, CA
28,442
Population
16,709
Households
1.7
Avg Household Size
39
Median Age
72%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
11,377
Density / Sq Mi
$119,043
Median Household Income
$83,008
Median Earnings
$2,630
Median Rent
$2,000,001
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Unique mixed-use property in a prime Venice location.
Where is this mixed-use property located?
The property is located at 110 Mildred Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Prime corner location just one block from Venice Beach, Venice Boardwalk, and Muscle Beach.; High Walk Score (96) and Bike Score (99).; Significant square footage: **±11,408 square feet of building on ±6,832 square feet of land.**
