Creative/Flex Building in Los
For Sale
Contact for pricing
11751 Mississippi Ave, Los Angeles, CA 90025
Multi-unit creative/flex building near Riot Games headquarters.
Property Size10,094 SF
Lot Size0.36 Acres
Price / SF$589.46
Days on Market358
Property Features for 11751 Mississippi Ave
General Information
Standard status
Active
Size
10,094 SF
Total Parking Spaces
14
Lot size
0.36 Acres
Property subtype
Office, Industrial
Zoning
M2-2
Investment Type
Owner/User
Building Details
Tenancy
Multi
Listing Agency:
Lee & Associates - Los Angeles - West
(602) 738-0008
Listed By:
Aleks Trifunovic, SIOR · License #01363109
Source:
Crexi
Added: Aug 20, 2025
Changed: Aug 8
Last Checked: Aug 11 at 11:08AM
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 Lee & Associates - Los Angeles - West
Investment Insights
Based on property information with market context.
The property at 11751 Mississippi Avenue, Los Angeles, CA 90025, presents an opportunity to acquire a multi-unit creative/flex building. Constructed in the late 1940s, the building encompasses approximately 10,094 square feet and is situated on a 15,682 square foot lot, which includes a surface parking lot with 14 spaces. The property has been recently used as creative office and flex space. It combines mid-century and factory-style elements, creating a sense of volume throughout. The location is between Riot Games headquarters and the Olympic Corridor, with convenient freeway access and walking distance to the Bundy Expo Line station. This property is suitable for both owner-users and investors, offering possibilities for occupancy, partial occupancy, or investment with updated units. Its proximity to West Los Angeles and Sawtelle amenities, restaurants, nightlife, and multiple light rail stops, positions it as a long-term value-add opportunity.
Key Highlights
- Creative/flex building with +/-10,094 SF on +/-15,682 SF of land.
- 14 parking spaces included.
- Combination of mid‑century and factory‑style elements creating a sense of volume.
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
$239,594
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
4.03%
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%
$4,791,880
$4.8M
Cap Rate 7%
$3,422,771
$3.4M
Cap Rate 9%
$2,662,156
$2.7M
Market Conditions
NOI Build-Up for 10,094 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
$392.5K $38.88/SF
− Vacancy
−$73.0K −$7.23/SF
EGI
$319.5K $31.65/SF
− OpEx
−$79.9K −$7.91/SF
NOI
$239.6K $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%
$4,791,880
Cap Rate 7%
$3,422,771
Cap Rate 9%
$2,662,156
Alternative Uses
Best Use
Office B
$3.42M
$2.99M – $3.99M
NOI $239,594 @ 7.0% cap · market cap 4.03%
Second Best
Mixed Use
$2.92M
$2.56M – $3.41M
NOI $204,404 @ 7.0% cap · market cap 3.44%
Theoretical Best
Multifamily LT 5
$204.50M
$178.94M – $238.58M
NOI $14,314,887 @ 7.0% cap · market cap 240.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 90025, CA
45,466
Population
24,965
Households
1.8
Avg Household Size
36
Median Age
70%
College-Educated
95%
High-School Grad
2.6 sq mi
ZIP Area
17,487
Density / Sq Mi
$104,627
Median Household Income
$70,713
Median Earnings
$2,465
Median Rent
$1,081,400
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?
Mixed-use property - Multi-unit creative/flex building near Riot Games headquarters.
Where is this mixed-use property located?
The property is located at 11751 Mississippi Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Creative/flex building with +/-10,094 SF on +/-15,682 SF of land.; 14 parking spaces included.; Combination of mid‑century and factory‑style elements creating a sense of volume.
