Retail Building with Rooftop
For Sale
Contact for pricing
1109-1117 N Western Avenue, Los Angeles, CA 90029
Single-story, multi-tenant retail building with four leased storefronts and a double-sided rooftop Clear Channel billboard.
Property Size7,000 SF
Lot Size0.34 Acres
Price / SF$400
Days on Market52
Property Features for 1109-1117 N Western Avenue
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
25
Lot size
0.34 Acres
Property subtype
Retail
Zoning
[Q]C4-2D-CPIO
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$249,300
Financials
Business Included
Yes
Opportunity Zone
Yes
Additional Details
Office Units
4
Building Details
Year Built
1928
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Iman Mossanen · License #CA 01978006
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 11 at 3:14PM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
1109–1117 N Western Avenue is a single-story, multi-tenant retail building totaling approximately 7,000 square feet on 15,000 square feet of C4 commercial land. The property includes four ground-floor retail units that are currently leased on a month-to-month basis. In addition, a double-sided rooftop Clear Channel billboard provides separate income.
The asset is offered on a standalone basis for sale. Public remarks indicate the site benefits from a layered entitlement profile including TOC Tier 3, a federal Opportunity Zone, AB 2097, ED 1 eligibility, and the Hollywood CPIO. The building is located in East Hollywood along a corridor undergoing redevelopment, including proximity described to the under-construction Echelon Studios campus and the nearby Sunset & Western development anchored by a Whole Foods.
For tenants and buyers, the property offers an immediately income-producing setup with the building described as fully occupied. The month-to-month leasing structure is designed to provide operational flexibility, allowing a buyer to retain current tenants while maintaining control over future rent strategy. The remarks also emphasize that there are no long-term lease commitments in place, which may be relevant to an operator considering retail tenanting changes or repositioning of the ground-floor space.
The asset is offered on a standalone basis for sale. Public remarks indicate the site benefits from a layered entitlement profile including TOC Tier 3, a federal Opportunity Zone, AB 2097, ED 1 eligibility, and the Hollywood CPIO. The building is located in East Hollywood along a corridor undergoing redevelopment, including proximity described to the under-construction Echelon Studios campus and the nearby Sunset & Western development anchored by a Whole Foods.
For tenants and buyers, the property offers an immediately income-producing setup with the building described as fully occupied. The month-to-month leasing structure is designed to provide operational flexibility, allowing a buyer to retain current tenants while maintaining control over future rent strategy. The remarks also emphasize that there are no long-term lease commitments in place, which may be relevant to an operator considering retail tenanting changes or repositioning of the ground-floor space.
Key Highlights
- Single‑story, multi‑tenant retail building built in 1928 with approximately 7,000 SF on 15,000 SF of C4 commercial land
- Four ground‑floor retail units are fully occupied and leased on a month‑to‑month basis
- Includes a double‑sided rooftop Clear Channel billboard generating passive income
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
$162,450
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
5.80%
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%
$3,249,000
$3.2M
Cap Rate 7%
$2,320,714
$2.3M
Cap Rate 9%
$1,805,000
$1.8M
Market Conditions
NOI Build-Up for 7,000 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
$258.7K $36.96/SF
− Vacancy
−$26.6K −$3.81/SF
EGI
$232.1K $33.15/SF
− OpEx
−$69.6K −$9.95/SF
NOI
$162.5K $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%
$3,249,000
Cap Rate 7%
$2,320,714
Cap Rate 9%
$1,805,000
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,450 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$141.82M
$124.09M – $165.45M
NOI $9,927,106 @ 7.0% cap · market cap 354.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 90029, CA
34,695
Population
14,465
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
24,782
Density / Sq Mi
$60,793
Median Household Income
$35,801
Median Earnings
$1,644
Median Rent
$1,066,200
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 - Single-story, multi-tenant retail building with four leased storefronts and a double-sided rooftop Clear Channel billboard.
Where is this retail space located?
The property is located at 1109-1117 N Western Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Single‑story, multi‑tenant retail building built in 1928 with approximately 7,000 SF on 15,000 SF of C4 commercial land; Four ground‑floor retail units are fully occupied and leased on a month‑to‑month basis; Includes a double‑sided rooftop Clear Channel billboard generating passive income
