Building Details

Building Size 4,500 SF

Listed By: Spencer Horak · License #01921906 Show Phone

Source: Lee-associates

Added: Nov 26, 2025 Changed: Oct 6 Last Checked: Oct 7 at 10:57AM

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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 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 / Yr

$106,813

Cap Rate

3.88%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $106,813 @ 7.0% cap · market cap 3.88%

Second Best

Retail

$1.49M

$1.31M – $1.74M (±1% cap)

NOI $104,432 @ 7.0% cap · market cap 3.80%

Theoretical Best

Multifamily LT 5

$91.17M

$79.77M – $106.36M (±1% cap)

NOI $6,381,711 @ 7.0% cap · market cap 232.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Therapy West Physician ELYSIA AGUERO Physician NICOLE HIORNS Physician SARAH KRENIK Physician RIANNA WONG MACHIDA Physician

Suggested Use

Top Pick Law Firm Food Market Real Estate Agency Grocery & Convenience Store Clothing & Fashion Store Pharmacy

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

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

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 shopping centers 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?

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