Multi-Tenant Retail Opportunity in Mar
For Sale
$2,750,000
11605 - 11609 W Washington Place, Los Angeles, CA 90066
Two-building commercial property in the heart of Mar Vista.
Property Size4,500 SF
Price / SF$611.11
Days on Market260
Property Features for 11605 - 11609 W Washington Place
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Retail/Office
Building Details
Building Size
4,500 SF
Listing Agency:
(310) 899-2728
Listed By:
Spencer Horak · License #01921906
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:34AM
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 Spencer Horak
Investment Insights
Based on property information with market context.
This two-building commercial multi-tenant retail property is located in the heart of Mar Vista, situated between Marina Del Rey, Venice to the west, Culver City to the east, Playa Vista to the south, and Santa Monica to the north. The submarket benefits from close proximity to entertainment and employment hubs in West Los Angeles. The property is well-maintained and features long-term tenancy. The property size is 4,500 square feet.
Key Highlights
- Two‑building commercial property offers a multi‑tenant retail opportunity
- Located in the heart of Mar Vista, a highly desirable West Los Angeles submarket
- Proximity to Marina Del Rey, Venice, Culver City, Playa Vista, and Santa Monica
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
$106,813
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
3.88%
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%
$2,136,260
$2.1M
Cap Rate 7%
$1,525,900
$1.5M
Cap Rate 9%
$1,186,811
$1.2M
Market Conditions
NOI Build-Up for 4,500 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
$175.0K $38.88/SF
− Vacancy
−$32.5K −$7.23/SF
EGI
$142.4K $31.65/SF
− OpEx
−$35.6K −$7.91/SF
NOI
$106.8K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,136,260
Cap Rate 7%
$1,525,900
Cap Rate 9%
$1,186,811
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.78M
NOI $106,813 @ 7.0% cap · market cap 3.88%
Second Best
Retail
$1.49M
$1.31M – $1.74M
NOI $104,432 @ 7.0% cap · market cap 3.80%
Theoretical Best
Multifamily LT 5
$91.17M
$79.77M – $106.36M
NOI $6,381,711 @ 7.0% cap · market cap 232.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,305
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90066, CA
55,304
Population
26,591
Households
2.1
Avg Household Size
38
Median Age
61%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
11,522
Density / Sq Mi
$107,786
Median Household Income
$67,298
Median Earnings
$2,211
Median Rent
$1,636,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-building commercial property in the heart of Mar Vista.
Where is this shopping center located?
The property is located at 11605 - 11609 W Washington Place Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two‑building commercial property offers a multi‑tenant retail opportunity; Located in the heart of Mar Vista, a highly desirable West Los Angeles submarket; Proximity to Marina Del Rey, Venice, Culver City, Playa Vista, and Santa Monica
