Vacant Medical Office in San
For Sale
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209 N Pacific Ave, Los Angeles, CA 90731
Vacant medical office building with on-site parking for sale.
Property Size4,642 SF
Lot Size0.21 Acres
Price / SF$343.60
Days on Market515
Property Features for 209 N Pacific Ave
General Information
Standard status
Active
Size
4,642 SF
Class
C
Lot size
0.21 Acres
Property subtype
Retail, Office
Zoning
LAC2
Building Details
Year Built
2003
Listing Agency:
NAI Capital Commercial, Inc
(213) 453-1770
Listed By:
David Maling · License #CA 01139115
Source:
Crexi
Added: Mar 21, 2025
Changed: Aug 10
Last Checked: Aug 17 at 5:00AM
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 Commercial, Inc
Investment Insights
Based on property information with market context.
The property at 209 North Pacific Avenue in San Pedro, California, is a vacant medical office building available for purchase. The building has a size of approximately 4,642 square feet and is situated on a lot of approximately 9,000 square feet. The property includes a few gated, on-site parking spaces. The location provides convenient access to N Gaffey Street and Seaside Freeway, presenting an opportunity for a buyer.
Key Highlights
- Vacant medical office property, ideal for immediate use or redevelopment.
- Lender‑owned (REO), presenting a potential value opportunity.
- Located in San Pedro, California.
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
$110,184
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
6.91%
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%
$2,203,680
$2.2M
Cap Rate 7%
$1,574,057
$1.6M
Cap Rate 9%
$1,224,267
$1.2M
Market Conditions
NOI Build-Up for 4,642 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
$180.5K $38.88/SF
− Vacancy
−$33.6K −$7.23/SF
EGI
$146.9K $31.65/SF
− OpEx
−$36.7K −$7.91/SF
NOI
$110.2K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,203,680
Cap Rate 7%
$1,574,057
Cap Rate 9%
$1,224,267
Alternative Uses
Best Use
Office B
$1.57M
$1.38M – $1.84M
NOI $110,184 @ 7.0% cap · market cap 6.91%
Second Best
Healthcare Medical
$1.23M
$1.08M – $1.43M
NOI $86,096 @ 7.0% cap · market cap 5.40%
Theoretical Best
Multifamily LT 5
$94.04M
$82.29M – $109.72M
NOI $6,583,089 @ 7.0% cap · market cap 412.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,905
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90731, CA
61,270
Population
24,477
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
6,588
Density / Sq Mi
$71,936
Median Household Income
$41,324
Median Earnings
$1,645
Median Rent
$808,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant medical office building with on-site parking for sale.
Where is this medical office space located?
The property is located at 209 N Pacific Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Vacant medical office property, ideal for immediate use or redevelopment.; Lender‑owned (REO), presenting a potential value opportunity.; Located in San Pedro, California.
