Signalized Corner Shopping
For Sale
$4,450,000
12439 Oxnard St, North Hollywood, CA 91606
Fully occupied neighborhood retail center with dual-arterial exposure and established daily-needs tenancy.
Property Size11,696 SF
Price / SF$380.47
Days on Market54
Property Features for 12439 Oxnard St
General Information
Standard status
Active
Size
11,696 SF
Property subtype
Shopping Strip
Amenities
Irreplaceable Corner Positioning
Dense Infill Trade Area
Strategic Central Valley Location
A Low-Vacancy, Supply-Constrained Retail Market
Multiple Paths to Income Growth
Compelling Basis Relative to Replacement Cost
Building Details
Building Size
11,696 SF
Year Built
1959
Listing Agency:
Encino Office
(818) 212-2794
Listed By:
Brandon Michaels · License #License(s): CA: 01434685
(818) 212-2794
Source:
Marcusmillichap
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 1:46PM
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 Encino Office
Investment Insights
Based on property information with market context.
Monteleone Plaza is a fully leased neighborhood shopping center comprising approximately 11,696 SF on a 27,068 SF parcel. The center occupies a signalized corner with frontage along both Oxnard Street and Whitsett Avenue, supporting visibility within an established commercial corridor. Built in 1959, the property is configured for neighborhood retail occupancy and includes tenants operating under gross and modified gross lease structures.
The property is located at 12439 Oxnard St in North Hollywood, California, within the San Fernando Valley. Existing leases are supported by long-term agreements, while lease provisions and expense recoveries provide areas for future operational review as leases mature. The asset offers a stabilized, fully occupied rent roll with multiple occupied retail spaces serving everyday customer needs.
The property is located at 12439 Oxnard St in North Hollywood, California, within the San Fernando Valley. Existing leases are supported by long-term agreements, while lease provisions and expense recoveries provide areas for future operational review as leases mature. The asset offers a stabilized, fully occupied rent roll with multiple occupied retail spaces serving everyday customer needs.
Key Highlights
- Fully leased 11,696 SF neighborhood shopping center
- 27,068 SF parcel at 12439 Oxnard St, North Hollywood, CA 91606
- Signalized corner at Oxnard Street and Whitsett Avenue
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
$258,769
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
5.82%
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%
$5,175,380
$5.2M
Cap Rate 7%
$3,696,700
$3.7M
Cap Rate 9%
$2,875,211
$2.9M
Market Conditions
NOI Build-Up for 11,696 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
$395.8K $33.84/SF
− Vacancy
−$26.1K −$2.23/SF
EGI
$369.7K $31.61/SF
− OpEx
−$110.9K −$9.48/SF
NOI
$258.8K $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%
$5,175,380
Cap Rate 7%
$3,696,700
Cap Rate 9%
$2,875,211
Alternative Uses
Best Use
Retail
$3.70M
$3.23M – $4.31M
NOI $258,769 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.31M
NOI $438,340 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,739
Businesses Nearby
22k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 40%
7-Eleven
Shops & Services
8,800 visits/mo
0.4 miles
El Pollo Loco
Dining
6,719 visits/mo
0.4 miles
SUBWAY
Dining
2,778 visits/mo
0.5 miles
Domino's Pizza
Dining
2,034 visits/mo
0.4 miles
Ameci Pizza & Pasta
Dining
1,758 visits/mo
0.5 miles
Demographics for 91606, CA
43,955
Population
16,563
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
78%
High-School Grad
3.3 sq mi
ZIP Area
13,320
Density / Sq Mi
$66,884
Median Household Income
$36,497
Median Earnings
$1,744
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 5406 Whitsett Ave, Los Angeles, CA 91607
- Burbank Kafco Plaza — 12474 Burbank Blvd, Valley Village, CA 91607
- Monteleone Plaza — 12439 Oxnard St, Valley Glen, CA 91606
- Coin Cloud Bitcoin ATM — 12515 Oxnard St, Valley Glen, CA 91606
- Laurel Canyon Oxnard Plaza — 6000 Laurel Canyon Blvd, Valley Glen, CA 91606
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied neighborhood retail center with dual-arterial exposure and established daily-needs tenancy.
Where is this shopping center located?
The property is located at 12439 Oxnard St North Hollywood, CA.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: Fully leased 11,696 SF neighborhood shopping center; 27,068 SF parcel at 12439 Oxnard St, North Hollywood, CA 91606; Signalized corner at Oxnard Street and Whitsett Avenue
