Remodeled Flex Space with
For Sale
Contact for pricing
11921 Sherman Way, North Hollywood, CA 91605
Commercial property combines customer-facing display areas with production, office, and support spaces under LAM2 zoning.
Property Size12,425 SF
Price / SF$482.90
Days on Market120
Property Features for 11921 Sherman Way
General Information
Standard status
Active
Size
12,425 SF
Class
A
Property subtype
Industrial, Mixed Use, Special Purpose
Zoning
LAM2
Investment Type
Owner/User
Building Details
Year Built
1960
Buildings
1
Listing Agency:
The Muradyan Group
Listed By:
Alina Muradyan · License #01979135
Source:
Crexi
Added: May 3
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 The Muradyan Group
Investment Insights
Based on property information with market context.
This remodeled flex property combines an open showroom environment with dedicated production and fabrication areas. The building also includes renovated offices, a lunchroom, and full air conditioning, supporting both customer-facing activity and day-to-day operations. A rear lot provides on-site parking for employees, clients, equipment, and business logistics. The site occupies over half an acre and fronts Sherman Way in North Hollywood, with prominent street exposure and signage visibility along the corridor. LAM2 zoning supports commercial use, while the existing configuration accommodates showroom, office, fabrication, and workshop functions. The real estate is offered for sale, and the existing design and fabrication business is also available separately. Lease availability is also stated.
Key Highlights
- Remodeled flex property with showroom and dedicated fabrication areas
- Renovated offices, lunchroom, and full air conditioning
- Rear lot provides on‑site parking and operational space
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
$274,898
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
4.58%
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%
$5,497,960
$5.5M
Cap Rate 7%
$3,927,114
$3.9M
Cap Rate 9%
$3,054,422
$3.1M
Market Conditions
NOI Build-Up for 12,425 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
$420.5K $33.84/SF
− Vacancy
−$27.8K −$2.23/SF
EGI
$392.7K $31.61/SF
− OpEx
−$117.8K −$9.48/SF
NOI
$274.9K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /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%
$5,497,960
Cap Rate 7%
$3,927,114
Cap Rate 9%
$3,054,422
Alternative Uses
Best Use
Retail
$3.93M
$3.44M – $4.58M
NOI $274,898 @ 7.0% cap · market cap 4.58%
Second Best
Industrial
$2.07M
$1.82M – $2.42M
NOI $145,200 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$6.65M
$5.82M – $7.76M
NOI $465,661 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,685
Businesses Nearby
Under-served
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
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines customer-facing display areas with production, office, and support spaces under LAM2 zoning.
Where is this flex space located?
The property is located at 11921 Sherman Way North Hollywood, CA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Remodeled flex property with showroom and dedicated fabrication areas; Renovated offices, lunchroom, and full air conditioning; Rear lot provides on‑site parking and operational space
