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    West Pico Retail Stores Available Title is generated by Realmo AI

    5994 W Pico Blvd, Los Angeles, CA 90035

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    Picture of Individual retail properties at 5994 W Pico Blvd, Los Angeles, CA
    For Lease
    $3 SF/Yr

    Prime West Pico Location: 2 Retail Stores

    Added:
    Apr 25, 2025
    Days on Market:
    387
    Last Refresh:
    Mar 16 at 9:05 am

    Property Features for 5994 W Pico Blvd

    General Information

    Standard status
    Active
    Property type
    Individual retail properties, Retail properties & Spaces
    Elevators
    N/A
    Lease Type
    NNN
    Rate Type
    Yearly

    Building Details

    Year Built
    1948
    Buildings
    2
    Stories
    1

    We can help!

    Listing Contact
    Jeff Luster

    Listing agent Jeff License #00636424

    Listing office Major Properties

    Listing date Apr 25, 2025

    Overview

    Two retail stores are available for lease in a prime West Pico location. The properties are part of a larger 9-store strip center situated on the southeast corner of Pico Boulevard and Stearns Drive, benefiting from heavy traffic with 41,263 vehicles per day. Customer parking is available in a shared rear lot off the alley, accommodating approximately 10 vehicles, in addition to abundant street parking. The location is between Fairfax Avenue and La Cienega Boulevard.

    One of the available spaces, located at 59941/2 W Pico Blvd, offers an area of approximately 1,160 square feet with one parking space in the rear lot. The lease rental is $3,480 per month, which is $3.00 per square foot on a NNN basis, with net charges of $0.206 per square foot per month. This space will be available starting May 1, 2025.

    The second space, located at 1410 Stearns Dr, provides an area of approximately 500 square feet. Parking is available via street parking only. The lease rental is $1,500 per month, also at $3.00 per square foot NNN, with net charges of $0.206 per square foot per month. This space will also be available starting May 1, 2025.
    Location Intelligence

    Current Use by Public Records

    Swift Title Loans ... Loan Service India Spices & Groceries Grocery & Convenience Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -119.2609533
    Latitude
    34.2727885

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    FAQs

    What type of property is this?
    Individual retail property - Prime West Pico Location: 2 Retail Stores
    Where is this individual retail property located?
    The property is located at 5994 W Pico Blvd Los Angeles, CA.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    (213) 804-3013
    We can help!
    Listing Contact
    Jeff Luster
    Real Estate License ID: 00636424
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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