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

    7661 Melrose Ave Los Angeles, CA 90046

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,250,000

    Prime location with immediate cash flow and value-add potential.

    Property size:
    7,316 SF

    Property Features for 7661 Melrose Ave

    General Information

    Standard status
    Active
    Size
    7,316 SF

    We can help!

    Listing Contact
    Ryan Gurman
    Source: Cbre

    Listing Agent: Ryan Gurman

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

    Learn more

    Overview

    Melrose Avenue Retail/Office Opportunity

    Located at 7661-7663 Melrose Avenue, this property offers an investment or owner-user opportunity. The property, totaling approximately 7,316 square feet, is situated near the intersection of Melrose and Fairfax, in a shopping district. The property provides immediate stability from a ground-floor tenant and value-add potential on the second floor. The ground floor features THEIA Mediterranean Restaurant & Bar, a newly renovated, long-term tenant providing immediate cash flow. The vacant second floor is suitable for an owner-user or a secondary lease. Secured on-site parking is available at the rear. The location benefits from high foot traffic near Fairfax High School, Blu Jam Cafe, and Urban Outfitters.
    Location Intelligence

    Current Use by Public Records

    The Comedy Office Nightclub Maya Hair Salon Manicures & Pedicures Losa Nail Salon Melrose Beauty Bar Hair Salon Durango Cantina Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    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
    -118.3567338
    Latitude
    34.0838479

    Nearby Similar for Sale

    • New
      $549,999
      Pending

      Vermont Square Commercial Building

      Commercial building in Vermont Square, Los Angeles, offering mixed-use possibilities.
      4518 S Western Ave, Los Angeles, CA 90062
      View Details
    • $1,275,000
      8,500 SF

      San Pedro Retail Investment Opportunity

      Three-unit retail building in San Pedro's revitalization area.
      705 S Pacific Ave, San Pedro, CA 90731
      View Details
    • $948,800
      1,500 SF

      Retail Storefront in Sherman Corridor

      1,500 SF retail storefront in Canoga Park for sale.
      21627 Sherman Way, Canoga Park, CA 91303
      View Details
    • $1,450,000
      3,040 SF

      East LA Commercial Investment Opportunity

      Fully leased 2-unit commercial building on high-traffic Whittier Blvd.
      5110 Whittier Blvd, Los Angeles, CA 90022
      View Details
    • $4,150,000
      5,356 SF

      Retail Property in Mar Vista

      Two attached commercial buildings in a high-traffic Los Angeles location.
      12513 Venice Blvd, Los Angeles, CA 90066
      View Details
    • New
      $1,750,000
      1,560 SF

      Waterfront Restaurant with Dock Access

      Profitable restaurant on bayfront property with dock access for sale.
      1901 Buhne Dr, South, CA 95503
      View Details
    • $350,000

      Established Subway Franchise Opportunity

      Turnkey Subway franchise in a prime North Hollywood location.
      8027 Lankershim Blvd, Sun Valley, CA 91605
      View Details
    • New
      $1,199,000
      2,717 SF

      Mixed-Use Building in Los Angeles

      LAC2 Zoned mixed-use building suitable for various commercial purposes.
      220 N Oxford Ave, Los Angeles, CA 90004
      View Details
    • $1,995,000
      4,900 SF

      Turnkey Banquet & Event Facility

      Banquet and event facility with exceptional capacity and infrastructure.
      18407 Sherman Way, Reseda, CA 91335
      View Details
    • $475,000
      655 SF

      Freestanding Retail Building in Los Angeles

      655 SF retail building on 1,650 SF lot for sale.
      4834 Huntington Dr S, Los Angeles, CA 90032
      View Details
    • New
      $795,000
      2,753 SF

      Historic Boyle Heights Triplex Opportunity

      Value-add triplex in vibrant Los Angeles neighborhood, delivered fully vacant.
      500 St Louis St N, Los Angeles, CA 90033
      View Details
    • New
      $1,490,000
      3,250 SF

      Versatile Commercial Building in Northridge

      Functional warehouse and upgraded office space in central Northridge.
      18522 Gresham St, Northridge, CA 91324
      View Details

    FAQs

    What type of property is this?
    Retail space - Prime location with immediate cash flow and value-add potential.
    Where is this retail space located?
    The property is located at 7661 Melrose Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - Prime location in a high-foot-traffic area near Melrose and Fairfax.; - Immediate cash flow from a newly renovated, long-term anchor tenant (THEIA Mediterranean Restaurant & Bar).; - Significant value-add potential with a vacant 2nd floor.
    (310) 650-7545
    Request Owner's contact information
    7661 Melrose Ave Los Angeles, CA 90046
    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.
    7661 Melrose Ave
    Los Angeles, CA 90046
    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
    7661 Melrose Ave Los Angeles, CA 90046
    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
    Ryan Gurman
    Real Estate License ID: 01972081
    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!