Freestanding Retail Building with
For Sale
Contact for pricing
216 S Spring St, Los Angeles, CA
Freestanding retail building featuring a loading dock.
Property Size13,900 SF
Lot Size0.29 Acres
Price / SF$352.52
Days on Market1238
Property Features for 216 S Spring St
General Information
Standard status
Active
Size
13,900 SF
Lot size
0.29 Acres
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield
(310) 556-1805
Listed By:
Mike Condon, Jr.
(213) 629-7379
Source:
Moodyscre
Added: Apr 24, 2023
Changed: Aug 16
Last Checked: Sep 12 at 11:09AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This is a freestanding retail building with 13,900 square feet of space. The property includes a loading dock located on Harlem Alley at the rear of the building.
Key Highlights
- Free standing building
- Features a loading dock for convenient deliveries
- Loading dock access via Harlem Alley
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
$322,580
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
6.58%
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%
$6,451,600
$6.5M
Cap Rate 7%
$4,608,286
$4.6M
Cap Rate 9%
$3,584,222
$3.6M
Market Conditions
NOI Build-Up for 13,900 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
$513.7K $36.96/SF
− Vacancy
−$52.9K −$3.81/SF
EGI
$460.8K $33.15/SF
− OpEx
−$138.2K −$9.95/SF
NOI
$322.6K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
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%
$6,451,600
Cap Rate 7%
$4,608,286
Cap Rate 9%
$3,584,222
Alternative Uses
Best Use
Retail
$4.61M
$4.03M – $5.38M
NOI $322,580 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$281.61M
$246.40M – $328.54M
NOI $19,712,396 @ 7.0% cap · market cap 402.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
16,509
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Los Angeles, CA
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Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building featuring a loading dock.
Where is this storefront property located?
The property is located at 216 S Spring St Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Free standing building; Features a loading dock for convenient deliveries; Loading dock access via Harlem Alley
