Retail Building with Rooftop
For Sale
Contact for pricing
Pending
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
Days on Market121
Property Features for 1109-1117 N Western Avenue
General Information
Standard status
Pending
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: Oct 13
Last Checked: Oct 19 at 6:48AM
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
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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 / Yr
$162,450
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Los Angeles, CA
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
