Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    688 South Alvarado St Los Angeles, CA 90057

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Two-story mixed-use building near MacArthur Park Metro Station.

    Property size:
    15,000 SF
    Lot size:
    15,000 SF

    Property Features for 688 South Alvarado St

    General Information

    Standard status
    Active
    Size
    15,000 SF

    We can help!

    Listing Contact
    Geoff Mullen
    Source: Cbre

    Listing Agent: Geoff Mullen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Art Deco Mixed-Use Building

    This two-story mixed-use building features Art Deco architecture. The property is well-suited for food, retail, and creative office uses. It is located on a prime corner at Alvarado Street and 7th Street, adjacent to the MacArthur Park Metro Station. Major housing developments are currently under construction nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -118.27645
    Latitude
    34.05674

    Nearby Similar for Lease

    • $1.50 SF/Yr
      9,020 SF

      Move-in Ready Panorama City Office

      Second-floor office space with multiple access points and ample light.
      9051 Van Nuys Blvd, Panorama City, CA 91402
      View Details
    • New
      $5,300 /Mo
      5,227 SF

      Versatile Mixed-Use Space in Los Angeles

      Mixed-use space ideal for various businesses in a dynamic location.
      1201 West Temple St, Los Angeles, CA 90026
      View Details
    • $2,100 /Mo

      Tujunga Office Space For Lease

      Office suites available in well-maintained Tujunga building.
      6708 Foothill Blvd, Tujunga, CA 91042
      View Details
    • $3,300 /Mo
      1,585 SF

      Foothill Boulevard Commercial Office Space

      Commercial office space in Sunland, available February 1, 2026.
      7912 Foothill Blvd, Sunland, CA 91040
      View Details
    • $3,500 /Mo
      2,150 SF

      Commercial Space in Los Angeles

      Versatile space suitable for office, retail, or warehouse use.
      3136 E Olympic Blvd, Los Angeles, CA 90023
      View Details
    • Contact for pricing
      1,800 SF

      Remodeled Retail Space in Los Angeles

      Remodeled commercial/retail space with parking in DTLA.
      5250 S Hoover St, Los Angeles, CA 90037
      View Details
    • New
      $3,200 /Mo
      1,307 SF

      Mixed-Use Property in Central Los Angeles

      Versatile 1,056 sq ft mixed-use property for lease.
      1641 South Longwood Ave, Los Angeles, CA 90019
      View Details
    • $6,000 /Mo
      10,019 SF

      Melrose Avenue Storefront Opportunity

      Two-story storefront on Melrose Avenue, ideal for retail/office use.
      7552 Melrose Ave, Los Angeles, CA 90046
      View Details
    • $2,750 /Mo
      2,047 SF

      Retail Space in Wilmington, CA

      Retail space for lease in prime Wilmington location.
      805 N Avalon Blvd, Wilmington, CA 90744
      View Details
    • $750 /Mo
      378 SF

      Office Space in Los Angeles

      Office space for lease in Los Angeles, approximately 378 sq.ft.
      844 Colorado Blvd, Los Angeles, CA 90041
      View Details
    • $16,500 /Mo
      6,000 SF

      Sunland Retail Space For Lease

      Retail space in Sunland with high ceilings and open parking.
      8307 1/2, Sunland, CA 91040
      View Details
    • New
      $3,000 /Mo
      3,630 SF

      San Pedro Creative Industrial Space

      Modern industrial-style creative space with flexible business use potential.
      2003 S Mesa Ave, San Pedro, CA 90731
      View Details

    FAQs

    What type of property is this?
    Retail space - Two-story mixed-use building near MacArthur Park Metro Station.
    Where is this retail space located?
    The property is located at 688 South Alvarado St Los Angeles, CA.
    What are key features of this property?
    This property features: - Prime corner location at Alvarado & 7th; - Adjacent to the MacArthur Park Metro Station; - Major housing developments under construction nearby
    Request Owner's contact information
    688 South Alvarado St Los Angeles, CA 90057
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    688 South Alvarado St
    Los Angeles, CA 90057
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    688 South Alvarado St Los Angeles, CA 90057
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Geoff Mullen
    Real Estate License ID: 01966425
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!