Storefront Property with LED
For Sale
$1,690,000
115 Western Avenue, Los Angeles, CA 90004
C2-zoned commercial space offers prominent LED signage and flexible subdivision options.
Property Size5,160 SF
Lot Size0.18 Acres
Price / SF$327.52
Days on Market175
Property Features for 115 Western Avenue
General Information
Standard status
Active
Size
5,160 SF
Lot size
0.18 Acres
Property subtype
General Commercial
Zoning
C2
Amenities
LED signage
3
LAC2
60x133
Building Details
Year Built
1922
Buildings
1
Listing Agency:
(213) 503-8070
Listed By:
Mi Jeong Kim · License #01887660
Source:
Xome
Added: Mar 10
Changed: Aug 30
Last Checked: Aug 30 at 11:49PM
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 Mi Jeong Kim
Investment Insights
Based on property information with market context.
This storefront property at 115 Western Avenue includes a 5,160-square-foot building on approximately 7,957 square feet of land. Built in 1922 and zoned C2, the asset includes installed projecting and façade LED signage. The layout can be divided into approximately 1,300-square-foot and 3,800-square-foot sections, supporting separate occupancy or reconfiguration plans.
The property sits along Western Avenue in Koreatown, Los Angeles, with substantial pedestrian and vehicle activity. There is no on-site parking; surrounding street parking is available, and off-site arrangements with nearby commercial establishments may be coordinated. The site is presented for retail, showroom, restaurant, café, bakery, creative office, medical, wellness, beauty, service, warehouse-style retail, or hybrid office and storage uses. Future planning concepts include approximately 30 residential units or a mixed-use configuration with commercial space at ground level.
The property sits along Western Avenue in Koreatown, Los Angeles, with substantial pedestrian and vehicle activity. There is no on-site parking; surrounding street parking is available, and off-site arrangements with nearby commercial establishments may be coordinated. The site is presented for retail, showroom, restaurant, café, bakery, creative office, medical, wellness, beauty, service, warehouse-style retail, or hybrid office and storage uses. Future planning concepts include approximately 30 residential units or a mixed-use configuration with commercial space at ground level.
Key Highlights
- 5,160 SF building on approximately 7,957 SF of land
- C2 zoning with storefront‑oriented commercial configuration
- Installed projecting and façade LED signage
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
$119,749
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
7.09%
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%
$2,394,980
$2.4M
Cap Rate 7%
$1,710,700
$1.7M
Cap Rate 9%
$1,330,544
$1.3M
Market Conditions
NOI Build-Up for 5,160 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
$190.7K $36.96/SF
− Vacancy
−$19.6K −$3.81/SF
EGI
$171.1K $33.15/SF
− OpEx
−$51.3K −$9.95/SF
NOI
$119.7K $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%
$2,394,980
Cap Rate 7%
$1,710,700
Cap Rate 9%
$1,330,544
Alternative Uses
Best Use
Retail
$1.71M
$1.50M – $2.00M
NOI $119,749 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$104.54M
$91.47M – $121.96M
NOI $7,317,695 @ 7.0% cap · market cap 433.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90004, CA
58,585
Population
26,046
Households
2.2
Avg Household Size
37
Median Age
40%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
18,898
Density / Sq Mi
$62,655
Median Household Income
$39,359
Median Earnings
$1,752
Median Rent
$1,457,200
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - C2-zoned commercial space offers prominent LED signage and flexible subdivision options.
Where is this storefront property located?
The property is located at 115 Western Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 5,160 SF building on approximately 7,957 SF of land; C2 zoning with storefront‑oriented commercial configuration; Installed projecting and façade LED signage
