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    5176 Santa Monica Blvd Los Angeles, CA 90029

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    Reimagined creative flex space on historic Route 66.

    Lot size:
    0.26 Acres
    Added:
    Jun 28, 2024
    Days on Market:
    669
    Last Refresh:
    Jan 20 at 10:35 am

    Property Features for 5176 Santa Monica Blvd

    General Information

    Standard status
    Active
    Lot size
    0.26 Acres

    We can help!

    Listing Contact
    Farshad Tehrani

    Listing agent Farshad Tehrani License #02104400

    Listing office Imperial Real Estate

    Listing date Jun 28, 2024

    Source Exprealty

    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 Imperial Real Estate

    Overview

    Creative Flex Space in Hollywood

    Located in the heart of Hollywood on historic Route 66, Chaplin Studios offers a modernized creative flex space. The building houses a collection of blank canvases set against a backdrop of history and character, illuminated by abundant natural lighting. It is situated minutes away from Paramount Studios and Universal Studios, between Thai Town, Little Armenia, and Melrose Hills. The property features 18 creative work studios of various sizes across two floors, connected by an arcade corridor. The building benefits from natural light shining through original massive skylights, exposed brick walls, and high wood beam ceilings. The location offers creative synergy from the Los Angeles Observatory to the Hollywood sign, providing an opportunity to work in a modernized space with original charm.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Precise Barber College Vocational School Capitol Blue Print ... Construction Company Jem Dynamics Laboratory Saja Wedding Clothing & Fashion Store Joseph V. Canul ... Alternative Medicine Practice

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Thrive Kitchen — 615 N Western Ave, Los Angeles, CA 90004
    • Los Angeles bartender and wait staffing service — 737 n harvard blvd st, los angeles, ca 90029
    • Annie's Soul Delicious — 615 N Western Ave, Los Angeles, CA 90004
    • Mise en place — 5022 clinton st, los angeles, ca 90004
    • Firehouse Subs Delivery Restaurant (DFL) — 615 N Western Ave, Los Angeles, CA 90004

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.303
    Latitude
    34.0906

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    FAQs

    What type of property is this?
    Flex space - Reimagined creative flex space on historic Route 66.
    Where is this flex space located?
    The property is located at 5176 Santa Monica Blvd Los Angeles, CA.
    What are key features of this property?
    This property features: Historic Route 66 location in Hollywood's Chaplin Studios, offering a unique blend of history and modern creative space.; Abundant natural light throughout the building via original massive skylights.; 18 Creative Work Studios of various sizes across two floors.
    (310) 667-1469
    We can help!
    Listing Contact
    Farshad Tehrani
    Real Estate License ID: 02104400
    Learn More
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    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
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