Building Details

Year Built 1946

Tenancy Multi

Listing Agency: Innovate Realty, Inc. s***@mac.com Show Phone

Listed By: Stefanie Becker

Source: Xome

Added: Aug 11 Changed: Aug 23 Last Checked: Aug 26 at 5:58AM

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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 Innovate Realty, Inc.

Investment Insights

Based on property information with market context.

Originally constructed in 1946 as a local schoolhouse, the property has been converted into 3,870 square feet of commercial space with seven income-producing rental units. The property may accommodate two additional units, subject to applicable requirements.

Located at 1111 Topanga Canyon Boulevard in Topanga, California, the property sits in a creekside setting and includes 15 parking spaces. Its commercial configuration supports multiple independent rental spaces within a historically distinctive building.

Key Highlights

• 3,870 SF commercial property originally built as a local schoolhouse in 1946
• Seven income‑producing commercial rentals currently in place
• Potential to add two additional units

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

$85,622

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

3.72%

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%

$1,712,440 $1.7M

Cap Rate 7%

$1,223,171 $1.2M

Cap Rate 9%

$951,356 $951.4K

Market Conditions

NOI Build-Up for 3,870 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

$131.0K $33.84/SF

− Vacancy

−$8.6K −$2.23/SF

EGI

$122.3K $31.61/SF

− OpEx

−$36.7K −$9.48/SF

NOI

$85.6K $22.12/SF

Area

Los Angeles County, CA

Vacancy

6.60%

Lease Rate

$33.84 /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%

$1,712,440

Cap Rate 7%

$1,223,171

Cap Rate 9%

$951,356

Alternative Uses

Best Use

Retail

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,622 @ 7.0% cap · market cap 3.72%

Second Best

Office B

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,595 @ 7.0% cap · market cap 3.68%

Theoretical Best

Office A

$2.07M

$1.81M – $2.42M (±1% cap)

NOI $145,039 @ 7.0% cap · market cap 6.31%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Perfumera Curandera Cosmetic Store JTD Architects, Inc. Architect PLACES books (Bike/Boat/Book/etc) Store Topanga New Times Publishing House

Suggested Use

Top Pick Real Estate Agency HVAC Service Hair Salon Bakery Nail Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 90290, CA

6,640

Population

2,678

Households

2.5

Avg Household Size

46

Median Age

66%

College-Educated

98%

High-School Grad

18.7 sq mi

ZIP Area

355

Density / Sq Mi

$142,148

Median Household Income

$76,953

Median Earnings

$3,501

Median Rent

$1,414,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Seven income-producing rentals offer room for additional units and on-site parking in a historic commercial setting.

Where is this storefront property located?

The property is located at 1111 Topanga Canyon Boulevard Topanga, CA.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: 3,870 SF commercial property originally built as a local schoolhouse in 1946; Seven income‑producing commercial rentals currently in place; Potential to add two additional units