Secured Industrial Storage
For Sale
Contact for pricing
11823-11825 Sherman Way, North Hollywood, CA 91605
Fully fenced, lit, and secured concrete parcel with street-to-street access and three insulated metal buildings.
Property Size34,625 SF
Price / SF$147.29
Days on Market245
Property Features for 11823-11825 Sherman Way
General Information
Standard status
Active
Size
34,625 SF
Property subtype
LAND
Zoning
M2
Site & Location
Road Access
Yes
Fenced Yard
Yes
Amenities
Fully Fenced
Lit
Secured
Cross Property Access
Building Details
Construction
Metal
Listing Agency:
NAI Capital
(818) 905-2400
Listed By:
Chad Gahr · License #01230414
(818) 742-1626
Source:
Moodyscre
Added: Jan 6
Changed: Jul 23
Last Checked: Jul 23 at 10:48AM
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 NAI Capital
Investment Insights
Based on property information with market context.
This M2-zoned concrete parcel is fully fenced, lit, and secured, offering a secure outdoor storage setting. The property includes three highly insulated and improved metal buildings, with HVAC totaling 14,160 square feet.
A street-to-street cross-property access point supports straightforward internal circulation across the site.
The existing combination of secured outdoor space and enclosed, HVAC-equipped buildings makes the property especially suitable for automotive-related uses or other secure outdoor storage requirements.
A street-to-street cross-property access point supports straightforward internal circulation across the site.
The existing combination of secured outdoor space and enclosed, HVAC-equipped buildings makes the property especially suitable for automotive-related uses or other secure outdoor storage requirements.
Key Highlights
- M2 zoned fully fenced concrete parcel
- Lit and secured property with street‑to‑street cross access
- Three highly insulated metal buildings with HVAC totaling 14,160 SF
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
$450,538
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
8.83%
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%
$9,010,760
$9.0M
Cap Rate 7%
$6,436,257
$6.4M
Cap Rate 9%
$5,005,978
$5.0M
Market Conditions
NOI Build-Up for 34,625 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
$556.8K $16.08/SF
− Vacancy
−$26.7K −$0.77/SF
EGI
$530.0K $15.31/SF
− OpEx
−$79.5K −$2.30/SF
NOI
$450.5K $13.01/SF
Area
Los Angeles County, CA
Vacancy
4.80%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
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%
$9,010,760
Cap Rate 7%
$6,436,257
Cap Rate 9%
$5,005,978
Alternative Uses
Best Use
Warehouse
$6.44M
$5.63M – $7.51M
NOI $450,538 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.54M
$16.22M – $21.63M
NOI $1,297,666 @ 7.0% cap · market cap 25.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,513
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 91605, CA
54,341
Population
17,206
Households
3.2
Avg Household Size
36
Median Age
22%
College-Educated
71%
High-School Grad
5.4 sq mi
ZIP Area
10,063
Density / Sq Mi
$64,539
Median Household Income
$32,751
Median Earnings
$1,736
Median Rent
$729,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 101 Storage — 4647 Laurel Canyon Blvd, North Hollywood, CA 91607
- Extra Space Storage — 6880 Troost Ave, North Hollywood, CA 91605
- Extra Space Storage — 11423 Vanowen St, North Hollywood, CA 91605
- Noho Refrigerator Llc — Los Angeles, CA 91605
- Logistics Prep Center — 12228 Sherman Way Unit R7, North Hollywood, CA 91605
Frequently Asked Questions
What type of property is this?
Warehouse - Fully fenced, lit, and secured concrete parcel with street-to-street access and three insulated metal buildings.
Where is this warehouse located?
The property is located at 11823-11825 Sherman Way North Hollywood, CA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: M2 zoned fully fenced concrete parcel; Lit and secured property with street‑to‑street cross access; Three highly insulated metal buildings with HVAC totaling 14,160 SF
